Bastion Asset Management Inc. Buys New Holdings in Cal-Maine Foods, Inc. $CALM

Bastion Asset Management Inc. purchased a new stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 17,264 shares of the basic materials company’s stock, valued at approximately $1,473,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CALM. Covestor Ltd lifted its stake in shares of Cal-Maine Foods by 244.2% in the 4th quarter. Covestor Ltd now owns 5,625 shares of the basic materials company’s stock valued at $448,000 after purchasing an additional 3,991 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Cal-Maine Foods by 15.6% in the 4th quarter. Handelsbanken Fonder AB now owns 11,837 shares of the basic materials company’s stock valued at $942,000 after purchasing an additional 1,600 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Cal-Maine Foods by 36.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,749 shares of the basic materials company’s stock valued at $617,000 after purchasing an additional 2,064 shares during the last quarter. Everstar Asset Management LLC lifted its stake in shares of Cal-Maine Foods by 27.2% in the 4th quarter. Everstar Asset Management LLC now owns 11,291 shares of the basic materials company’s stock valued at $898,000 after purchasing an additional 2,413 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Cal-Maine Foods by 3,014.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 623,571 shares of the basic materials company’s stock valued at $49,618,000 after purchasing an additional 603,551 shares during the last quarter. 84.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CALM shares. BMO Capital Markets decreased their price target on 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. Stephens raised their price target on Cal-Maine Foods from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 18th. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Cal-Maine Foods in a research note on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $93.00.

Cal-Maine Foods Stock Up 1.2%

CALM opened at $78.57 on Wednesday. The stock’s fifty day moving average is $78.99 and its two-hundred day moving average is $82.10. The company has a market capitalization of $3.72 billion, a P/E ratio of 5.48 and a beta of 0.28. Cal-Maine Foods, Inc. has a 52 week low of $71.92 and a 52 week high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) 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 analysts’ consensus estimates of $0.89 by $0.17. Cal-Maine Foods had a return on equity of 26.05% and a net margin of 20.07%.The business had revenue of $666.95 million for the quarter, compared to the consensus estimate of $655.82 million. During the same period last year, the business posted $10.39 EPS. The business’s revenue was down 53.0% compared to the same quarter last year.

Cal-Maine Foods Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were issued a $0.36 dividend. The ex-dividend date was Wednesday, April 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.8%. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 9.97%.

Cal-Maine Foods 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.