Neo Ivy Capital Management Purchases New Shares in Cal-Maine Foods, Inc. $CALM

Neo Ivy Capital Management acquired a new stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 13,856 shares of the basic materials company’s stock, valued at approximately $1,304,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in shares of Cal-Maine Foods by 2.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,052,171 shares of the basic materials company’s stock worth $193,118,000 after purchasing an additional 39,669 shares during the period. State Street Corp increased its position in shares of Cal-Maine Foods by 6.8% during the second quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock valued at $171,038,000 after buying an additional 108,578 shares during the period. American Century Companies Inc. raised its stake in Cal-Maine Foods by 3.5% in the third quarter. American Century Companies Inc. now owns 1,618,491 shares of the basic materials company’s stock worth $152,300,000 after buying an additional 54,757 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Cal-Maine Foods by 7.5% in the second quarter. Geode Capital Management LLC now owns 1,095,246 shares of the basic materials company’s stock worth $109,132,000 after buying an additional 76,102 shares during the period. Finally, Squarepoint Ops LLC lifted its holdings in Cal-Maine Foods by 60.1% in the second quarter. Squarepoint Ops LLC now owns 934,037 shares of the basic materials company’s stock worth $93,058,000 after buying an additional 350,771 shares during the period. 84.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a research report on Tuesday. BMO Capital Markets lowered their target price on Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating for the company in a research note on Thursday, January 8th. Stephens set a $85.00 price target on Cal-Maine Foods and gave the company an “equal weight” rating in a research report on Thursday, January 8th. Finally, Weiss Ratings cut Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $93.00.

Cal-Maine Foods Price Performance

Shares of NASDAQ CALM opened at $89.84 on Friday. Cal-Maine Foods, Inc. has a 1 year low of $71.92 and a 1 year high of $126.40. The firm has a 50-day moving average of $81.78 and a 200 day moving average of $90.03. The stock has a market cap of $4.28 billion, a P/E ratio of 3.80 and a beta of 0.26.

Cal-Maine Foods (NASDAQ:CALM) last announced 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 return on equity of 44.55% and a net margin of 27.37%.The business had revenue of $769.50 million during the quarter, compared to analysts’ expectations of $828.46 million. During the same quarter last year, the company posted $4.47 EPS. Cal-Maine Foods’s revenue for the quarter was down 19.4% compared to the same quarter last year. Research analysts expect that Cal-Maine Foods, Inc. will post 15.59 earnings per share 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. Investors 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 3.2%. Cal-Maine Foods’s dividend payout ratio is presently 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.