Millennium Management LLC Trims Position in Cal-Maine Foods, Inc. $CALM

Millennium Management LLC trimmed its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 19.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 384,012 shares of the basic materials company’s stock after selling 93,465 shares during the period. Millennium Management LLC owned 0.78% of Cal-Maine Foods worth $34,907,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Cal-Maine Foods in the first quarter valued at about $527,000. Bank of New York Mellon Corp raised its holdings in shares of Cal-Maine Foods by 8.7% in the first quarter. Bank of New York Mellon Corp now owns 562,810 shares of the basic materials company’s stock valued at $51,159,000 after buying an additional 45,201 shares during the last quarter. KBC Group NV raised its holdings in shares of Cal-Maine Foods by 23.2% in the first quarter. KBC Group NV now owns 2,071 shares of the basic materials company’s stock valued at $188,000 after buying an additional 390 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Cal-Maine Foods by 25.7% in the first quarter. GAMMA Investing LLC now owns 1,720 shares of the basic materials company’s stock valued at $156,000 after buying an additional 352 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Cal-Maine Foods by 8.2% in the first quarter. Sequoia Financial Advisors LLC now owns 2,511 shares of the basic materials company’s stock valued at $228,000 after buying an additional 191 shares during the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

Cal-Maine Foods Trading Up 0.8%

Shares of CALM opened at $109.50 on Thursday. The firm’s 50-day moving average is $108.51 and its two-hundred day moving average is $98.85. Cal-Maine Foods, Inc. has a twelve month low of $68.55 and a twelve month high of $126.40. The firm has a market capitalization of $5.37 billion, a P/E ratio of 4.39 and a beta of 0.27.

Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share for the quarter, topping the consensus estimate of $5.29 by $1.75. Cal-Maine Foods had a net margin of 28.63% and a return on equity of 54.81%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $877.03 million. During the same period in the prior year, the business posted $2.32 earnings per share. The firm’s revenue for the quarter was up 72.1% compared to the same quarter last year. Analysts predict that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Cal-Maine Foods Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Monday, August 4th were given a $3.46 dividend. This is a boost from Cal-Maine Foods’s previous quarterly dividend of $1.49. This represents a $13.84 annualized dividend and a dividend yield of 12.6%. The ex-dividend date was Monday, August 4th. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 37.76%.

Analyst Upgrades and Downgrades

CALM has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their price target on shares of Cal-Maine Foods from $100.00 to $105.00 and gave the stock a “market perform” rating in a research note on Thursday, July 24th. Stephens raised their price target on Cal-Maine Foods from $108.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, July 24th. Wall Street Zen cut Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Saturday, August 23rd. Finally, The Goldman Sachs Group initiated coverage on Cal-Maine Foods in a report on Thursday, August 14th. They issued a “neutral” rating and a $110.00 price target for the company. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $110.00.

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.