Massachusetts Financial Services Co. MA increased its stake in Cal-Maine Foods Inc (NASDAQ:CALM) by 17.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 252,481 shares of the basic materials company’s stock after purchasing an additional 37,773 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.52% of Cal-Maine Foods worth $12,195,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Legal & General Group Plc increased its position in shares of Cal-Maine Foods by 1.9% in the first quarter. Legal & General Group Plc now owns 61,015 shares of the basic materials company’s stock worth $2,706,000 after purchasing an additional 1,114 shares during the period. Juncture Wealth Strategies LLC increased its position in shares of Cal-Maine Foods by 28.6% in the second quarter. Juncture Wealth Strategies LLC now owns 7,200 shares of the basic materials company’s stock worth $330,000 after purchasing an additional 1,600 shares during the period. MetLife Investment Advisors LLC increased its position in shares of Cal-Maine Foods by 13.8% in the second quarter. MetLife Investment Advisors LLC now owns 14,364 shares of the basic materials company’s stock worth $659,000 after purchasing an additional 1,738 shares during the period. Rhumbline Advisers increased its position in shares of Cal-Maine Foods by 2.7% in the second quarter. Rhumbline Advisers now owns 75,306 shares of the basic materials company’s stock worth $3,453,000 after purchasing an additional 1,999 shares during the period. Finally, NEXT Financial Group Inc bought a new position in shares of Cal-Maine Foods in the third quarter worth $133,000. Institutional investors own 59.30% of the company’s stock.
A number of research analysts recently commented on the company. ValuEngine upgraded Cal-Maine Foods from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. BidaskClub upgraded Cal-Maine Foods from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 24th. Stephens cut Cal-Maine Foods from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 1st. Finally, Zacks Investment Research cut Cal-Maine Foods from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 10th. Three investment analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $54.50.
Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Monday, October 1st. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.23). Cal-Maine Foods had a net margin of 9.76% and a return on equity of 18.99%. The business had revenue of $340.60 million during the quarter, compared to the consensus estimate of $346.76 million. During the same quarter in the prior year, the firm earned ($0.33) EPS. The business’s revenue was up 29.6% on a year-over-year basis. On average, equities research analysts forecast that Cal-Maine Foods Inc will post 3.35 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be given a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, October 30th. Cal-Maine Foods’s dividend payout ratio is presently 11.97%.
In other Cal-Maine Foods news, CFO Max P. Bowman bought 2,000 shares of the firm’s stock in a transaction on Thursday, October 11th. The shares were purchased at an average price of $45.51 per share, for a total transaction of $91,020.00. Following the completion of the transaction, the chief financial officer now directly owns 2,000 shares in the company, valued at approximately $91,020. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 33.03% of the company’s stock.
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Cal-Maine Foods Company Profile
Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.
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