Hennion & Walsh Asset Management Inc. Buys 8,005 Shares of Cal-Maine Foods, Inc. $CALM

Hennion & Walsh Asset Management Inc. boosted its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 22.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,994 shares of the basic materials company’s stock after acquiring an additional 8,005 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.09% of Cal-Maine Foods worth $3,421,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CALM. Sound Income Strategies LLC bought a new position in Cal-Maine Foods during the 3rd quarter worth approximately $32,000. IFP Advisors Inc boosted its stake 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 valued at $37,000 after purchasing an additional 139 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of Cal-Maine Foods during the third quarter worth $42,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Cal-Maine Foods during the third quarter worth $47,000. Finally, Quarry LP raised its stake in Cal-Maine Foods by 146.6% during the third 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. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Stock Up 2.0%

Cal-Maine Foods stock opened at $78.66 on Tuesday. The company has a market capitalization of $3.75 billion, a PE ratio of 3.32 and a beta of 0.26. Cal-Maine Foods, Inc. has a 12-month low of $71.92 and a 12-month high of $126.40. The firm’s fifty day moving average is $83.54 and its 200 day moving average is $86.40.

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

Cal-Maine Foods Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Wednesday, January 28th were paid a $0.72 dividend. The ex-dividend date was Wednesday, January 28th. This represents a $2.88 annualized dividend and a dividend yield of 3.7%. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 12.21%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Stephens boosted their target price on shares of Cal-Maine Foods from $85.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, March 18th. BMO Capital Markets decreased their price target on 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. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a research note on Tuesday, March 3rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cal-Maine Foods in a research report on Friday. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $93.00.

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.