Cal-Maine Foods, Inc. $CALM Shares Sold by Citigroup Inc.

Key Points

• Citigroup cut its stake by 46.2%, selling 26,405 shares in the third quarter and now holds 30,798 shares of Cal‑Maine Foods worth about $2.9 million (≈0.06% of the company).
• Cal‑Maine missed quarterly results, reporting $2.13 EPS vs. $2.17 expected and revenue of $769.5M vs. $828.5M expected, with revenue down 19.4% year‑over‑year; the stock trades at a P/E of 3.8 and a market cap of roughly $4.28B.
• The company paid a quarterly dividend of $0.72 ($2.88 annualized, yield 3.2%), and analysts’ consensus rating is a Hold with an average target price of $93.

Citigroup Inc. cut its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 46.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,798 shares of the basic materials company's stock after selling 26,405 shares during the period. Citigroup Inc. owned approximately 0.06% of Cal-Maine Foods worth $2,898,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sound Income Strategies LLC purchased a new stake in shares of Cal-Maine Foods in the third quarter valued at approximately $32,000. Carolina Wealth Advisors LLC purchased a new position in shares of Cal-Maine Foods during the 3rd quarter valued at approximately $47,000. Financial Consulate Inc. purchased a new position in shares of Cal-Maine Foods during the 3rd quarter valued at approximately $56,000. Byrne Asset Management LLC acquired a new stake in Cal-Maine Foods in the 3rd quarter valued at $66,000. Finally, Geneos Wealth Management Inc. grew its stake in Cal-Maine Foods by 80.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company's stock valued at $67,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 84.67% of the company's stock.

Cal-Maine Foods Trading Up 0.5%

Shares of CALM opened at $89.84 on Friday. Cal-Maine Foods, Inc. has a 12-month low of $71.92 and a 12-month high of $126.40. The firm has a market capitalization of $4.28 billion, a P/E ratio of 3.80 and a beta of 0.26. The firm has a 50-day moving average price of $81.78 and a 200 day moving average price of $90.17.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its earnings results on Wednesday, January 7th. The basic materials company reported $2.13 EPS for the quarter, missing analysts' consensus estimates of $2.17 by ($0.04). Cal-Maine Foods had a return on equity of 44.55% and a net margin of 27.37%.The firm had revenue of $769.50 million for the quarter, compared to analysts' expectations of $828.46 million. During the same period last year, the firm earned $4.47 earnings per share. Cal-Maine Foods's revenue for the quarter was down 19.4% on a year-over-year basis. Equities research analysts predict 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 announced a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Wednesday, January 28th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, January 28th. Cal-Maine Foods's dividend payout ratio (DPR) is 12.21%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CALM shares. Stephens set a $85.00 price objective on shares of Cal-Maine Foods and gave the stock an "equal weight" rating in a research report on Thursday, January 8th. Weiss Ratings lowered shares of Cal-Maine Foods from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, December 29th. Benchmark reissued a "buy" rating on shares of Cal-Maine Foods in a research note on Tuesday. Finally, BMO Capital Markets decreased their price target on shares of Cal-Maine Foods from $97.00 to $85.00 and set a "market perform" rating on the stock in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $93.00.

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. 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.

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