Cal-Maine Foods, Inc. $CALM Shares Acquired by Assetmark Inc.

Key Points

• Assetmark Inc. raised its stake in Cal‑Maine by 36.6% in Q4, buying 31,826 shares to hold 118,773 shares (about 0.25% of the company) valued at roughly $9.45 million.
• Cal‑Maine reported quarterly EPS of $1.06 (beating estimates by $0.17) and revenue of $666.95 million (also above expectations), but revenue plunged 53% year‑over‑year and prior‑year EPS was $10.39, highlighting a sharp decline in profitability.
• Sell‑side consensus is an overall Hold with an average price target of $93.00, and the company declared a quarterly dividend of $0.36 (annualized $1.44, ~1.9% yield).

Assetmark Inc. lifted its position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 36.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 118,773 shares of the basic materials company's stock after purchasing an additional 31,826 shares during the quarter. Assetmark Inc. owned approximately 0.25% of Cal-Maine Foods worth $9,451,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CALM. Dimensional Fund Advisors LP raised its stake in Cal-Maine Foods by 2.0% during 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 acquiring an additional 39,669 shares during the last quarter. State Street Corp grew its holdings in Cal-Maine Foods by 6.8% during 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 buying an additional 108,578 shares during the last quarter. American Century Companies Inc. grew its holdings in Cal-Maine Foods by 3.5% during 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 buying an additional 54,757 shares during the last quarter. Northern Trust Corp grew its holdings in Cal-Maine Foods by 8.4% during the 3rd quarter. Northern Trust Corp now owns 900,466 shares of the basic materials company's stock valued at $84,734,000 after buying an additional 70,063 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Cal-Maine Foods by 6.6% during the 2nd quarter. Bank of America Corp DE now owns 705,671 shares of the basic materials company's stock valued at $70,306,000 after buying an additional 43,414 shares during the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on CALM. BMO Capital Markets reduced their target price on Cal-Maine Foods from $85.00 to $80.00 and set a "market perform" rating on the stock in a research report on Wednesday, March 25th. Stephens raised their price objective on Cal-Maine Foods from $85.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 18th. Benchmark reissued a "buy" rating on shares of Cal-Maine Foods in a research report on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Cal-Maine Foods in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $93.00.

Cal-Maine Foods Trading Up 0.4%

Shares of NASDAQ CALM opened at $76.60 on Friday. The stock has a 50 day simple moving average of $82.14 and a 200-day simple moving average of $84.29. The company has a market cap of $3.63 billion, a PE ratio of 5.34 and a beta of 0.32. Cal-Maine Foods, Inc. has a 12-month low of $71.92 and a 12-month high of $126.40.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its earnings results on Wednesday, April 1st. The basic materials company reported $1.06 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $655.82 million. During the same quarter in the previous year, the company earned $10.39 earnings per share. The firm's quarterly revenue was down 53.0% compared to the same quarter last year. Sell-side analysts forecast that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, April 29th. This represents a $1.44 annualized dividend and a dividend yield of 1.9%. Cal-Maine Foods's dividend payout ratio is currently 20.14%.

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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.