Kendall Capital Management Takes $402,000 Position in Cal-Maine Foods Inc (CALM)

Kendall Capital Management bought a new position in shares of Cal-Maine Foods Inc (NASDAQ:CALM) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 9,000 shares of the basic materials company’s stock, valued at approximately $402,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. increased its holdings in Cal-Maine Foods by 82.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 18,130 shares of the basic materials company’s stock worth $767,000 after purchasing an additional 8,179 shares in the last quarter. Morgan Stanley increased its holdings in Cal-Maine Foods by 57.0% during the 3rd quarter. Morgan Stanley now owns 185,463 shares of the basic materials company’s stock worth $8,958,000 after purchasing an additional 67,321 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Cal-Maine Foods by 3.0% during the 4th quarter. State of Alaska Department of Revenue now owns 10,118 shares of the basic materials company’s stock worth $427,000 after purchasing an additional 295 shares in the last quarter. Vanguard Group Inc. increased its holdings in Cal-Maine Foods by 15.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,621,819 shares of the basic materials company’s stock worth $174,934,000 after purchasing an additional 478,452 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Cal-Maine Foods by 6.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 345,666 shares of the basic materials company’s stock worth $16,696,000 after purchasing an additional 21,113 shares in the last quarter. Hedge funds and other institutional investors own 64.91% of the company’s stock.

A number of equities analysts have issued reports on CALM shares. ValuEngine upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Stephens started coverage on Cal-Maine Foods in a report on Monday, March 4th. They set an “equal weight” rating for the company. Finally, BidaskClub cut Cal-Maine Foods from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $47.00.

Shares of NASDAQ CALM opened at $42.44 on Tuesday. The stock has a market capitalization of $2.07 billion, a PE ratio of 14.94 and a beta of 0.28. Cal-Maine Foods Inc has a fifty-two week low of $40.37 and a fifty-two week high of $52.30.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Monday, April 1st. The basic materials company reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.32. The company had revenue of $383.99 million during the quarter, compared to analysts’ expectations of $385.49 million. Cal-Maine Foods had a return on equity of 15.09% and a net margin of 9.57%. Cal-Maine Foods’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.99 EPS. On average, sell-side analysts expect that Cal-Maine Foods Inc will post 1.45 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Wednesday, May 1st were issued a $0.272 dividend. This is a boost from Cal-Maine Foods’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, April 30th. This represents a $1.09 annualized dividend and a dividend yield of 2.56%. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 38.38%.

In other news, Director James E. Poole sold 2,500 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $42.76, for a total value of $106,900.00. Following the completion of the transaction, the director now owns 8,222 shares in the company, valued at approximately $351,572.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert L. Holladay, Jr. sold 1,200 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $41.61, for a total value of $49,932.00. Following the completion of the transaction, the vice president now owns 10,690 shares of the company’s stock, valued at approximately $444,810.90. The disclosure for this sale can be found here. 33.03% of the stock is owned by company insiders.

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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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Institutional Ownership by Quarter for Cal-Maine Foods (NASDAQ:CALM)

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