Victory Capital Management Inc. Sells 30,101 Shares of Cal-Maine Foods, Inc. $CALM

Key Points

• Victory Capital cut its stake in Cal‑Maine by 12.7%, selling 30,101 shares and ending the quarter with 206,201 shares (about $19.4M, or 0.43% of the company).
• Several other institutions reshuffled positions—most notably Wedge Capital added 237,566 shares to hold 259,445—leaving institutional ownership at 84.67%.
• Cal‑Maine reported Q EPS of $2.13 (missed by $0.04) with revenue down 19.4% YoY; the company pays a $0.72 quarterly dividend (annual $2.88, 3.3% yield) and has a consensus analyst rating of "Hold" with an average target of $93.

Victory Capital Management Inc. cut its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 12.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 206,201 shares of the basic materials company's stock after selling 30,101 shares during the quarter. Victory Capital Management Inc. owned 0.43% of Cal-Maine Foods worth $19,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Wedge Capital Management L L P NC increased its stake in Cal-Maine Foods by 1,085.8% in the third quarter. Wedge Capital Management L L P NC now owns 259,445 shares of the basic materials company's stock valued at $24,414,000 after acquiring an additional 237,566 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Cal-Maine Foods by 6.5% in the 3rd quarter. Principal Financial Group Inc. now owns 268,026 shares of the basic materials company's stock worth $25,221,000 after purchasing an additional 16,251 shares in the last quarter. Range Financial Group LLC increased its position in shares of Cal-Maine Foods by 1,274.2% during the 3rd quarter. Range Financial Group LLC now owns 30,122 shares of the basic materials company's stock valued at $2,834,000 after purchasing an additional 27,930 shares during the last quarter. CX Institutional bought a new position in shares of Cal-Maine Foods during the 3rd quarter valued at about $6,488,000. Finally, New York State Common Retirement Fund raised its holdings in shares of Cal-Maine Foods by 42.2% during the 3rd quarter. New York State Common Retirement Fund now owns 33,051 shares of the basic materials company's stock valued at $3,110,000 after buying an additional 9,805 shares in the last quarter. Institutional investors own 84.67% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CALM shares. Benchmark restated a "buy" rating on shares of Cal-Maine Foods in a research report on Tuesday, March 3rd. BMO Capital Markets lowered their price objective on shares of Cal-Maine Foods from $97.00 to $85.00 and set a "market perform" rating for the company in a report on Thursday, January 8th. Stephens set a $85.00 price objective on shares of Cal-Maine Foods and gave the company an "equal weight" rating in a research note on Thursday, January 8th. Finally, Weiss Ratings lowered shares of Cal-Maine Foods from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $93.00.

Cal-Maine Foods Stock Down 0.8%

Shares of Cal-Maine Foods stock opened at $87.12 on Wednesday. The company's fifty day simple moving average is $82.03 and its two-hundred day simple moving average is $89.48. 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 cap of $4.15 billion, a PE ratio of 3.68 and a beta of 0.26.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its earnings results on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share for the quarter, missing analysts' consensus estimates of $2.17 by ($0.04). The firm had revenue of $769.50 million for the quarter, compared to analysts' expectations of $828.46 million. Cal-Maine Foods had a return on equity of 44.55% and a net margin of 27.37%.The business's revenue for the quarter was down 19.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.47 earnings per share. As a group, sell-side analysts expect that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Wednesday, January 28th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Wednesday, January 28th. Cal-Maine Foods's dividend payout ratio (DPR) is currently 12.21%.

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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