Woodmont Investment Counsel LLC Buys 22,703 Shares of Cal-Maine Foods, Inc. $CALM

Key Points

• Woodmont Investment Counsel increased its stake in Cal‑Maine Foods by 454.1%, acquiring 22,703 shares to own 27,703 shares worth about $2.20 million (≈0.06% of the company).
• Cal‑Maine reported Q results with EPS of $1.06 beating the $0.89 estimate and revenue of $666.95M (above expectations) but revenue was down ~53% year‑over‑year; the company has a market cap of $3.67B and a P/E of 5.37.
• The company declared a reduced quarterly dividend of $0.36 per share (annualized $1.44, yield 1.9.), ex‑dividend April 29/payable May 14, and analysts have a consensus rating of “Hold” with a $93 target price.

Woodmont Investment Counsel LLC lifted its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 454.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 27,703 shares of the basic materials company's stock after acquiring an additional 22,703 shares during the period. Woodmont Investment Counsel LLC owned approximately 0.06% of Cal-Maine Foods worth $2,204,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Wedge Capital Management L L P NC lifted its holdings in shares of Cal-Maine Foods by 1,085.8% during the 3rd quarter. Wedge Capital Management L L P NC now owns 259,445 shares of the basic materials company's stock worth $24,414,000 after acquiring an additional 237,566 shares during the last quarter. Principal Financial Group Inc. raised its position in 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 during the period. Range Financial Group LLC raised its position in Cal-Maine Foods by 1,274.2% in the 3rd quarter. Range Financial Group LLC now owns 30,122 shares of the basic materials company's stock worth $2,834,000 after purchasing an additional 27,930 shares during the period. CX Institutional purchased a new position in Cal-Maine Foods in the 3rd quarter worth $6,488,000. Finally, New York State Common Retirement Fund raised its position in Cal-Maine Foods by 42.2% in the 3rd quarter. New York State Common Retirement Fund now owns 33,051 shares of the basic materials company's stock worth $3,110,000 after purchasing an additional 9,805 shares during the period. 84.67% of the stock is owned by institutional investors.

Cal-Maine Foods Trading Down 0.2%

Shares of NASDAQ:CALM opened at $77.07 on Thursday. Cal-Maine Foods, Inc. has a 12 month low of $71.92 and a 12 month high of $126.40. The company has a 50-day moving average price of $83.25 and a 200-day moving average price of $85.25. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 5.37 and a beta of 0.32.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 1st. The basic materials company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.17. Cal-Maine Foods had a net margin of 20.07% and a return on equity of 26.05%. The company 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. Cal-Maine Foods's quarterly revenue was down 53.0% on a year-over-year basis. As a group, research analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS 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. Investors of record on Wednesday, April 29th will be given a dividend of $0.36 per share. The ex-dividend date is Wednesday, April 29th. This represents a $1.44 annualized dividend and a dividend yield of 1.9%. Cal-Maine Foods's payout ratio is currently 20.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CALM shares. Benchmark restated a "buy" rating on shares of Cal-Maine Foods in a report on Tuesday, March 3rd. 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 report on Wednesday, March 18th. Weiss Ratings restated a "hold (c+)" rating on shares of Cal-Maine Foods in a report on Friday, March 27th. Finally, BMO Capital Markets lowered their price objective on shares of Cal-Maine Foods from $85.00 to $80.00 and set a "market perform" rating for the company in a research note on Wednesday, March 25th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Cal-Maine Foods currently has a consensus rating of "Hold" and a consensus 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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