Martingale Asset Management L P Decreases Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Martingale Asset Management L P cut its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 18.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,046 shares of the basic materials company’s stock after selling 7,275 shares during the quarter. Martingale Asset Management L P owned approximately 0.07% of Cal-Maine Foods worth $3,298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its stake in Cal-Maine Foods by 716.8% in the 3rd quarter. FMR LLC now owns 29,226 shares of the basic materials company’s stock worth $2,187,000 after purchasing an additional 25,648 shares in the last quarter. Stifel Financial Corp lifted its stake in Cal-Maine Foods by 1.3% in the 3rd quarter. Stifel Financial Corp now owns 15,049 shares of the basic materials company’s stock worth $1,126,000 after purchasing an additional 188 shares in the last quarter. State Street Corp lifted its stake in Cal-Maine Foods by 3.0% in the 3rd quarter. State Street Corp now owns 1,609,388 shares of the basic materials company’s stock worth $120,447,000 after purchasing an additional 46,187 shares in the last quarter. XTX Topco Ltd lifted its stake in Cal-Maine Foods by 6.6% in the 3rd quarter. XTX Topco Ltd now owns 11,341 shares of the basic materials company’s stock worth $849,000 after purchasing an additional 703 shares in the last quarter. Finally, MML Investors Services LLC lifted its stake in Cal-Maine Foods by 9.6% in the 3rd quarter. MML Investors Services LLC now owns 4,464 shares of the basic materials company’s stock worth $334,000 after purchasing an additional 392 shares in the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on CALM shares. Stephens reissued an “equal weight” rating and issued a $97.00 target price on shares of Cal-Maine Foods in a research note on Thursday, March 6th. StockNews.com lowered shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Thursday.

Cal-Maine Foods Stock Performance

CALM stock opened at $92.58 on Thursday. The firm has a market cap of $4.54 billion, a PE ratio of 7.20 and a beta of 0.11. The firm’s 50 day moving average price is $93.27 and its 200-day moving average price is $95.69. Cal-Maine Foods, Inc. has a one year low of $55.15 and a one year high of $116.41.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Tuesday, April 8th. The basic materials company reported $10.38 EPS for the quarter, beating the consensus estimate of $5.79 by $4.59. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $953.76 million. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The business’s revenue for the quarter was up 101.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.00 EPS. Equities research analysts predict that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be issued a $3.46 dividend. This represents a $13.84 annualized dividend and a yield of 14.95%. This is an increase from Cal-Maine Foods’s previous quarterly dividend of $1.49. Cal-Maine Foods’s dividend payout ratio (DPR) is 46.30%.

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $109.97, for a total value of $88,965.73. Following the completion of the transaction, the director now owns 42,761 shares in the company, valued at $4,702,427.17. The trade was a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 13.45% of the stock is owned by insiders.

Cal-Maine Foods Company 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.