Intech Investment Management LLC Has $17.99 Million Position in Cal-Maine Foods, Inc. $CALM

Intech Investment Management LLC boosted its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 41.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 191,223 shares of the basic materials company’s stock after buying an additional 55,836 shares during the quarter. Intech Investment Management LLC owned about 0.39% of Cal-Maine Foods worth $17,994,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. State Street Corp grew its holdings in shares of Cal-Maine Foods by 6.8% during the 2nd quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock worth $171,038,000 after purchasing an additional 108,578 shares in the last quarter. American Century Companies Inc. increased its position in Cal-Maine Foods by 8.8% in the 2nd quarter. American Century Companies Inc. now owns 1,563,734 shares of the basic materials company’s stock valued at $155,795,000 after acquiring an additional 126,791 shares in the last quarter. Geode Capital Management LLC raised its position in Cal-Maine Foods by 7.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,095,246 shares of the basic materials company’s stock worth $109,132,000 after purchasing an additional 76,102 shares during the last quarter. Squarepoint Ops LLC lifted its stake in shares of Cal-Maine Foods by 60.1% during the second quarter. Squarepoint Ops LLC now owns 934,037 shares of the basic materials company’s stock valued at $93,058,000 after acquiring an additional 350,771 shares during the period. Finally, Bank of America Corp DE lifted its position in Cal-Maine Foods by 6.6% during the 2nd quarter. Bank of America Corp DE now owns 705,671 shares of the basic materials company’s stock valued at $70,306,000 after purchasing an additional 43,414 shares during the period. 84.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CALM shares. Stephens set a $85.00 price objective on shares of Cal-Maine Foods and gave the company an “equal weight” rating in a report on Thursday, January 8th. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a research report on Monday, January 5th. BMO Capital Markets cut their price target on shares of Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating on the stock in a research report on Thursday, January 8th. Finally, Weiss Ratings downgraded Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. 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 stock currently has an average rating of “Hold” and a consensus target price of $93.00.

Cal-Maine Foods Stock Down 0.5%

Shares of CALM stock opened at $84.43 on Thursday. The stock’s fifty day simple moving average is $81.20 and its 200 day simple moving average is $91.07. Cal-Maine Foods, Inc. has a twelve month low of $71.92 and a twelve month high of $126.40. The firm has a market capitalization of $4.02 billion, a P/E ratio of 3.57 and a beta of 0.26.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Cal-Maine Foods had a net margin of 27.37% and a return on equity of 44.55%. 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 company earned $4.47 earnings per share. The business’s revenue for the quarter was down 19.4% on a year-over-year basis. As a group, equities research analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

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

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.