Navellier & Associates Inc. Has $2.72 Million Stock Position in Cal-Maine Foods, Inc. $CALM

Navellier & Associates Inc. lowered its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 47.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,216 shares of the basic materials company’s stock after selling 30,359 shares during the period. Navellier & Associates Inc.’s holdings in Cal-Maine Foods were worth $2,723,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CALM. Qube Research & Technologies Ltd grew 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 purchasing an additional 174,576 shares during the period. UBS Group AG grew its stake in Cal-Maine Foods by 82.4% during the third quarter. UBS Group AG now owns 345,800 shares of the basic materials company’s stock worth $32,540,000 after purchasing an additional 156,256 shares during the period. State Street Corp grew its stake in 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 worth $171,038,000 after purchasing an additional 108,578 shares during the period. Mackenzie Financial Corp grew its stake in Cal-Maine Foods by 397.7% during the third quarter. Mackenzie Financial Corp now owns 130,269 shares of the basic materials company’s stock worth $12,258,000 after purchasing an additional 104,095 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in Cal-Maine Foods by 34.6% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 392,347 shares of the basic materials company’s stock worth $36,920,000 after purchasing an additional 100,913 shares during the period. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Stock Performance

Shares of Cal-Maine Foods stock opened at $76.87 on Wednesday. Cal-Maine Foods, Inc. has a 52 week low of $71.92 and a 52 week high of $126.40. The stock has a 50 day moving average price of $80.89 and a two-hundred day moving average price of $83.02. The stock has a market capitalization of $3.64 billion, a PE ratio of 5.36 and a beta of 0.28.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Wednesday, April 1st. The basic materials company reported $1.06 EPS for the quarter, beating 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 firm had revenue of $666.95 million during the quarter, compared to analysts’ expectations of $655.82 million. During the same quarter last year, the firm posted $10.39 earnings per share. The company’s revenue for the quarter was down 53.0% compared to the same quarter last year.

Cal-Maine Foods Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, April 29th. Cal-Maine Foods’s dividend payout ratio (DPR) is 9.97%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CALM. Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a research note on Tuesday, March 3rd. Stephens raised their target price on Cal-Maine Foods from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 18th. BMO Capital Markets decreased their target price on Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating for the company in a research note on Wednesday, March 25th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cal-Maine Foods in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cal-Maine Foods currently has a consensus rating of “Hold” and an average target price of $93.00.

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.