Pacer Advisors Inc. Sells 14,314 Shares of Cal-Maine Foods, Inc. $CALM

Pacer Advisors Inc. lowered its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 418,786 shares of the basic materials company’s stock after selling 14,314 shares during the period. Pacer Advisors Inc.’s holdings in Cal-Maine Foods were worth $33,323,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pinnacle Holdings LLC bought a new position in shares of Cal-Maine Foods in the 4th quarter valued at $30,000. WealthCollab LLC increased its holdings in Cal-Maine Foods by 105.2% in the 4th quarter. WealthCollab LLC now owns 431 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 221 shares in the last quarter. IFP Advisors Inc increased its holdings in Cal-Maine Foods by 58.2% in the 3rd quarter. IFP Advisors Inc now owns 378 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 139 shares in the last quarter. Signaturefd LLC raised its position in 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, National Bank of Canada FI bought a new position in Cal-Maine Foods in the third quarter valued at about $42,000. Institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Stock Performance

Shares of CALM stock opened at $77.73 on Friday. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 5.42 and a beta of 0.26. The stock has a 50-day moving average of $76.85 and a 200-day moving average of $80.46. Cal-Maine Foods, Inc. has a 1-year low of $71.92 and a 1-year high of $126.40.

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

Cal-Maine Foods Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CALM shares. Royal Bank Of Canada set a $100.00 price target on Cal-Maine Foods in a report on Tuesday, May 26th. Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a report on Tuesday, May 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cal-Maine Foods in a research report on Friday, March 27th. 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. Finally, BMO Capital Markets decreased their price target on shares of Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating for the company in a research report on Wednesday, March 25th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $94.17.

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.