Nutshell Asset Management Ltd Acquires Shares of 36,300 Cal-Maine Foods, Inc. $CALM

Nutshell Asset Management Ltd bought a new position in Cal-Maine Foods, Inc. (NASDAQ:CALM) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 36,300 shares of the basic materials company’s stock, valued at approximately $3,416,000. Cal-Maine Foods makes up 1.6% of Nutshell Asset Management Ltd’s investment portfolio, making the stock its 18th largest position.

Other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Cal-Maine Foods by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,401 shares of the basic materials company’s stock valued at $2,218,000 after acquiring an additional 1,057 shares during the period. NewEdge Advisors LLC boosted its stake in Cal-Maine Foods by 100.8% in the 1st quarter. NewEdge Advisors LLC now owns 7,985 shares of the basic materials company’s stock worth $726,000 after purchasing an additional 4,009 shares during the period. United Services Automobile Association purchased a new position in Cal-Maine Foods during the 1st quarter worth approximately $245,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cal-Maine Foods by 10.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,422 shares of the basic materials company’s stock worth $7,765,000 after purchasing an additional 7,736 shares in the last quarter. Finally, Atria Investments Inc acquired a new stake in Cal-Maine Foods during the 2nd quarter valued at $603,000. 84.67% of the stock is owned by hedge funds and other institutional investors.

Cal-Maine Foods Stock Performance

Cal-Maine Foods stock opened at $89.84 on Monday. 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 cap of $4.28 billion, a PE ratio of 3.80 and a beta of 0.26. The firm’s 50 day moving average price is $81.78 and its two-hundred day moving average price is $89.86.

Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share (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 company had revenue of $769.50 million for the quarter, compared to analyst estimates of $828.46 million. During the same period last year, the business earned $4.47 EPS. The company’s quarterly revenue was down 19.4% on a year-over-year basis. Equities analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Wednesday, January 28th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $2.88 dividend on an annualized basis and a yield of 3.2%. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 12.21%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. BMO Capital Markets reduced their target price on Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating for the company in a report 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. Weiss Ratings downgraded Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. Finally, Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Cal-Maine Foods currently has an average rating of “Hold” and a consensus price target of $93.00.

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.