Intech Investment Management LLC Has $4.55 Million Holdings in Cal-Maine Foods, Inc. $CALM

Intech Investment Management LLC cut its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 70.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,195 shares of the basic materials company’s stock after selling 134,028 shares during the period. Intech Investment Management LLC’s holdings in Cal-Maine Foods were worth $4,551,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc raised its holdings in shares of Cal-Maine Foods by 58.2% in the third 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. WealthCollab LLC raised its holdings in shares of Cal-Maine Foods by 105.2% in the fourth quarter. WealthCollab LLC now owns 431 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 221 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of Cal-Maine Foods in the third quarter valued at approximately $42,000. Signaturefd LLC raised its holdings in shares of Cal-Maine Foods by 46.5% in the fourth quarter. Signaturefd LLC now owns 488 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 155 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of Cal-Maine Foods by 146.6% in the third 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. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Stock Performance

Shares of CALM opened at $74.72 on Monday. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 5.21 and a beta of 0.26. Cal-Maine Foods, Inc. has a 1-year low of $71.92 and a 1-year high of $126.40. The company’s fifty day simple moving average is $77.28 and its 200 day simple moving average is $81.44.

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

Cal-Maine Foods Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Wednesday, April 29th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Wednesday, April 29th. Cal-Maine Foods’s payout ratio is presently 9.97%.

Wall Street Analysts Forecast Growth

CALM has been the topic of a number of recent research reports. Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a report on Tuesday, May 26th. Royal Bank Of Canada set a $100.00 target price on shares of Cal-Maine Foods in a report on Tuesday, May 26th. Stephens boosted their target price 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. BMO Capital Markets lowered their target price on shares of Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating on the stock in a report on Wednesday, March 25th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cal-Maine Foods in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $94.17.

About Cal-Maine Foods

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.