Northwestern Mutual Wealth Management Co. Raises Stock Position in Cal-Maine Foods, Inc. $CALM

Northwestern Mutual Wealth Management Co. lifted its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 3,014.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 623,571 shares of the basic materials company’s stock after buying an additional 603,551 shares during the period. Northwestern Mutual Wealth Management Co. owned approximately 1.31% of Cal-Maine Foods worth $49,618,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CALM. WealthCollab LLC grew its position in shares of Cal-Maine Foods by 105.2% in the 4th quarter. WealthCollab LLC now owns 431 shares of the basic materials company’s stock worth $34,000 after buying an additional 221 shares during the last quarter. IFP Advisors Inc grew its position in shares of Cal-Maine Foods by 58.2% in the 3rd quarter. IFP Advisors Inc now owns 378 shares of the basic materials company’s stock worth $37,000 after buying an additional 139 shares during the last quarter. Signaturefd LLC grew its position in shares of Cal-Maine Foods by 46.5% in the 4th quarter. Signaturefd LLC now owns 488 shares of the basic materials company’s stock worth $39,000 after buying an additional 155 shares during the last quarter. National Bank of Canada FI purchased a new position in shares of Cal-Maine Foods in the 3rd quarter worth approximately $42,000. Finally, Quarry LP grew its position in shares of Cal-Maine Foods by 146.6% in the 3rd quarter. Quarry LP now owns 587 shares of the basic materials company’s stock worth $55,000 after buying an additional 349 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cal-Maine Foods in a research report on Friday, March 27th. Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a report on Tuesday, March 3rd. Stephens raised their price target on shares of Cal-Maine Foods from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 18th. Finally, BMO Capital Markets decreased their price target on shares of Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating for the company in a report on Wednesday, March 25th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Cal-Maine Foods currently has a consensus rating of “Hold” and an average target price of $93.00.

Cal-Maine Foods Trading Up 0.9%

NASDAQ CALM opened at $77.61 on Tuesday. The company has a fifty day simple moving average of $79.22 and a two-hundred day simple moving average of $82.16. The stock has a market cap of $3.68 billion, a P/E ratio of 5.41 and a beta of 0.28. Cal-Maine Foods, Inc. has a 12-month low of $71.92 and a 12-month high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Wednesday, April 1st. The basic materials company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.17. The business had revenue of $666.95 million during the quarter, compared to analysts’ expectations of $655.82 million. Cal-Maine Foods had a net margin of 20.07% and a return on equity of 26.05%. The business’s quarterly revenue was down 53.0% on a year-over-year basis. During the same quarter last year, the company posted $10.39 earnings per share.

Cal-Maine Foods Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, April 29th. Cal-Maine Foods’s dividend payout ratio is 9.97%.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc, together with its subsidiaries, produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, free-range, pasture-raised, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4Grain brand names. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.