Cambria Investment Management L.P. Has $9.76 Million Stock Holdings in Cal-Maine Foods, Inc. $CALM

Cambria Investment Management L.P. lowered its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 6.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 103,725 shares of the basic materials company’s stock after selling 7,125 shares during the period. Cambria Investment Management L.P.’s holdings in Cal-Maine Foods were worth $9,761,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in CALM. Sound Income Strategies LLC bought a new stake in shares of Cal-Maine Foods in the third quarter valued at approximately $32,000. National Bank of Canada FI bought a new position in Cal-Maine Foods during the third quarter worth $42,000. Carolina Wealth Advisors LLC bought a new position in Cal-Maine Foods during the third quarter worth $47,000. Quarry LP raised its stake in Cal-Maine Foods by 146.6% during the 3rd quarter. Quarry LP now owns 587 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 349 shares during the last quarter. Finally, Financial Consulate Inc. acquired a new position in Cal-Maine Foods during the 3rd quarter valued at $56,000. 84.67% of the stock is owned by institutional investors.

Cal-Maine Foods Stock Performance

NASDAQ:CALM opened at $83.71 on Thursday. The company has a 50-day moving average of $83.02 and a 200-day moving average of $88.47. Cal-Maine Foods, Inc. has a 52 week low of $71.92 and a 52 week high of $126.40. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 3.54 and a beta of 0.26.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). The business had revenue of $769.50 million during the quarter, compared to analyst estimates of $828.46 million. Cal-Maine Foods had a return on equity of 44.55% and a net margin of 27.37%.The business’s revenue for the quarter was down 19.4% on a year-over-year basis. During the same period last year, the company earned $4.47 EPS. Sell-side analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Cal-Maine Foods Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Wednesday, January 28th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Wednesday, January 28th. Cal-Maine Foods’s dividend payout ratio is currently 12.21%.

Analyst Upgrades and Downgrades

CALM has been the topic of several research analyst reports. 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 research report on Wednesday. BMO Capital Markets reduced their target price on shares of Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating for the company in a research note on Thursday, January 8th. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a research report on Tuesday, March 3rd. Finally, Weiss Ratings lowered Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $94.00.

Cal-Maine Foods 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.