Vestcor Inc Buys 14,445 Shares of Cal-Maine Foods, Inc. $CALM

Vestcor Inc raised its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 17.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,185 shares of the basic materials company’s stock after purchasing an additional 14,445 shares during the period. Vestcor Inc owned 0.20% of Cal-Maine Foods worth $9,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Wedge Capital Management L L P NC raised its holdings in Cal-Maine Foods by 1,085.8% during the 3rd quarter. Wedge Capital Management L L P NC now owns 259,445 shares of the basic materials company’s stock valued at $24,414,000 after buying an additional 237,566 shares during the period. Principal Financial Group Inc. lifted its position in Cal-Maine Foods by 6.5% in the third quarter. Principal Financial Group Inc. now owns 268,026 shares of the basic materials company’s stock worth $25,221,000 after buying an additional 16,251 shares during the last quarter. Range Financial Group LLC boosted its stake in Cal-Maine Foods by 1,274.2% during the third quarter. Range Financial Group LLC now owns 30,122 shares of the basic materials company’s stock worth $2,834,000 after buying an additional 27,930 shares during the period. CX Institutional bought a new position in Cal-Maine Foods during the third quarter valued at $6,488,000. Finally, New York State Common Retirement Fund increased its position in Cal-Maine Foods by 42.2% during the third quarter. New York State Common Retirement Fund now owns 33,051 shares of the basic materials company’s stock valued at $3,110,000 after acquiring an additional 9,805 shares during the last quarter. 84.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CALM shares. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a research note on Tuesday, March 3rd. Stephens set a $85.00 price target on shares of Cal-Maine Foods and gave the company an “equal weight” rating in a report on Thursday, January 8th. BMO Capital Markets reduced their price objective 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 shares of Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $93.00.

Cal-Maine Foods Stock Down 2.3%

Shares of Cal-Maine Foods stock opened at $87.80 on Tuesday. The stock’s fifty day moving average is $81.89 and its two-hundred day moving average is $89.68. 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 $4.18 billion, a PE ratio of 3.71 and a beta of 0.26.

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

Cal-Maine Foods Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Wednesday, January 28th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, January 28th. Cal-Maine Foods’s payout ratio is 12.21%.

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.