RM Financial Services LLC Takes $1.50 Million Position in Cal-Maine Foods, Inc. $CALM

RM Financial Services LLC acquired a new stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 18,886 shares of the basic materials company’s stock, valued at approximately $1,503,000. Cal-Maine Foods accounts for 1.3% of RM Financial Services LLC’s portfolio, making the stock its 16th biggest position.

Several other large investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake 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 valued at $193,118,000 after purchasing an additional 39,669 shares during the period. State Street Corp grew its stake in shares of Cal-Maine Foods by 6.8% in the 2nd quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock valued at $171,038,000 after purchasing an additional 108,578 shares during the period. American Century Companies Inc. grew its stake in shares of Cal-Maine Foods by 3.5% in the 3rd quarter. American Century Companies Inc. now owns 1,618,491 shares of the basic materials company’s stock valued at $152,300,000 after purchasing an additional 54,757 shares during the period. Northern Trust Corp grew its stake in shares of Cal-Maine Foods by 8.4% in the 3rd quarter. Northern Trust Corp now owns 900,466 shares of the basic materials company’s stock valued at $84,734,000 after purchasing an additional 70,063 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Cal-Maine Foods by 32.2% in the 4th quarter. Bank of New York Mellon Corp now owns 759,310 shares of the basic materials company’s stock valued at $60,418,000 after purchasing an additional 184,843 shares during the period. 84.67% of the stock is currently owned by institutional investors.

Cal-Maine Foods Trading Up 1.8%

NASDAQ:CALM opened at $79.07 on Thursday. 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 $76.88 and a 200-day moving average of $80.71. The stock has a market capitalization of $3.75 billion, a P/E ratio of 5.51 and a beta of 0.26.

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

Cal-Maine Foods Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.8%. The ex-dividend date was Wednesday, April 29th. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 9.97%.

Analyst Ratings Changes

CALM has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cal-Maine Foods in a research note on Friday, March 27th. BMO Capital Markets lowered their price objective on Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 25th. Royal Bank Of Canada set a $100.00 price objective on Cal-Maine Foods in a research note on Tuesday, May 26th. Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a research note on Tuesday, May 26th. Finally, Stephens lifted their target price on shares of Cal-Maine Foods from $85.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 18th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $94.17.

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.