Navellier & Associates Inc. Sells 30,359 Shares of Cal-Maine Foods, Inc. $CALM

Key Points

• Navellier & Associates cut its stake in Cal‑Maine by 47%, selling 30,359 shares and now holding 34,216 shares valued at about $2.72 million.
• Cal‑Maine beat Q earnings estimates with EPS of $1.06 versus $0.89, but revenue plunged 53% year‑over‑year; the company declared a quarterly dividend of $0.36 ($1.44 annualized, yield 1.9%).
• Institutional ownership is high at 84.67%, with several large funds increasing positions, while analyst consensus is a Hold rating and an average target price of $93.

Navellier & Associates Inc. cut its position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 47.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,216 shares of the basic materials company's stock after selling 30,359 shares during the quarter. Navellier & Associates Inc. owned 0.07% of Cal-Maine Foods worth $2,723,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Cal-Maine Foods by 2.0% in the third 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 last quarter. State Street Corp raised its position in Cal-Maine Foods by 6.8% in the second 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 last quarter. American Century Companies Inc. raised its position in Cal-Maine Foods by 3.5% in the third 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 last quarter. Northern Trust Corp raised its position in Cal-Maine Foods by 8.4% in the third 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 last quarter. Finally, Bank of America Corp DE raised its position in Cal-Maine Foods by 6.6% in the second quarter. Bank of America Corp DE now owns 705,671 shares of the basic materials company's stock valued at $70,306,000 after purchasing an additional 43,414 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CALM has been the subject of several research reports. Benchmark reiterated a "buy" rating on shares of Cal-Maine Foods in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Cal-Maine Foods in a research report on Friday, March 27th. Stephens increased their target price 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. Finally, BMO Capital Markets dropped their target price on Cal-Maine Foods from $85.00 to $80.00 and set a "market perform" rating for the company in a research report on Wednesday, March 25th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $93.00.

Cal-Maine Foods Trading Up 2.8%

Shares of CALM stock opened at $76.87 on Wednesday. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 5.36 and a beta of 0.28. The stock has a 50-day moving average of $80.89 and a 200-day moving average of $83.02. Cal-Maine Foods, Inc. has a 1-year low of $71.92 and a 1-year high of $126.40.

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

Cal-Maine Foods Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th will be paid 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 presently 9.97%.

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.

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