Picton Mahoney Asset Management Purchases 12,652 Shares of Cal-Maine Foods, Inc. $CALM

Picton Mahoney Asset Management boosted its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 263.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,450 shares of the basic materials company’s stock after purchasing an additional 12,652 shares during the quarter. Picton Mahoney Asset Management’s holdings in Cal-Maine Foods were worth $1,642,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hennessy Advisors Inc. bought a new stake in shares of Cal-Maine Foods during the 3rd quarter valued at $38,063,000. Squarepoint Ops LLC lifted its position in Cal-Maine Foods by 60.1% during the 2nd 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. Wedge Capital Management L L P NC lifted its position 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 acquiring an additional 237,566 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Cal-Maine Foods by 165.6% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 291,434 shares of the basic materials company’s stock worth $29,036,000 after acquiring an additional 181,715 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in Cal-Maine Foods by 66.9% during the second quarter. Qube Research & Technologies Ltd now owns 435,376 shares of the basic materials company’s stock worth $43,377,000 after acquiring an additional 174,576 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Wall Street Analyst Weigh In

CALM has been the subject of a number of analyst reports. BMO Capital Markets decreased their target price on shares of 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 stock an “equal weight” rating in a research note on Thursday, January 8th. Weiss Ratings lowered Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. Finally, Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a research note on Tuesday. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $93.00.

Cal-Maine Foods Stock Performance

Shares of Cal-Maine Foods stock opened at $89.35 on Friday. The company has a 50-day simple moving average of $81.62 and a two-hundred day simple moving average of $90.30. The stock has a market capitalization of $4.26 billion, a PE ratio of 3.77 and a beta of 0.26. Cal-Maine Foods, Inc. has a 52-week low of $71.92 and a 52-week high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Wednesday, January 7th. The basic materials company reported $2.13 EPS 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 firm had revenue of $769.50 million for the quarter, compared to analysts’ expectations of $828.46 million. During the same quarter in the previous year, the company earned $4.47 EPS. The company’s quarterly revenue was down 19.4% compared to the same quarter last year. As a group, equities research analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Wednesday, January 28th were issued a $0.72 dividend. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.2%. Cal-Maine Foods’s dividend payout ratio (DPR) 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.