New York State Teachers Retirement System Increases Holdings in Cal-Maine Foods, Inc. $CALM

New York State Teachers Retirement System raised its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,712 shares of the basic materials company’s stock after buying an additional 692 shares during the quarter. New York State Teachers Retirement System owned about 0.11% of Cal-Maine Foods worth $5,152,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Cal-Maine Foods by 0.8% during the first quarter. Vanguard Group Inc. now owns 4,945,681 shares of the basic materials company’s stock valued at $449,562,000 after buying an additional 40,075 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Cal-Maine Foods by 13.4% in the first quarter. American Century Companies Inc. now owns 1,436,943 shares of the basic materials company’s stock worth $130,618,000 after purchasing an additional 170,322 shares during the last quarter. Northern Trust Corp raised its stake in shares of Cal-Maine Foods by 23.5% in the first quarter. Northern Trust Corp now owns 833,054 shares of the basic materials company’s stock worth $75,725,000 after purchasing an additional 158,719 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Cal-Maine Foods by 3.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 664,304 shares of the basic materials company’s stock worth $60,385,000 after purchasing an additional 20,174 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Cal-Maine Foods by 8.7% in the first quarter. Bank of New York Mellon Corp now owns 562,810 shares of the basic materials company’s stock worth $51,159,000 after purchasing an additional 45,201 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Insider Activity at Cal-Maine Foods

In related news, insider Keira L. Lombardo acquired 2,800 shares of the stock in a transaction dated Thursday, October 2nd. The shares were purchased at an average cost of $92.36 per share, with a total value of $258,608.00. Following the transaction, the insider directly owned 3,738 shares in the company, valued at approximately $345,241.68. This represents a 298.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on CALM shares. Weiss Ratings restated a “buy (b)” rating on shares of Cal-Maine Foods in a research note on Saturday, September 27th. Stephens boosted their price target on Cal-Maine Foods from $108.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. Lake Street Capital set a $97.00 price target on Cal-Maine Foods in a research note on Friday, October 3rd. BMO Capital Markets decreased their price target on Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating for the company in a research note on Friday, October 3rd. Finally, Wall Street Zen cut Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Saturday, August 23rd. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $101.75.

Cal-Maine Foods Price Performance

Shares of CALM opened at $91.25 on Tuesday. Cal-Maine Foods, Inc. has a one year low of $79.55 and a one year high of $126.40. The firm has a market capitalization of $4.43 billion, a P/E ratio of 3.51 and a beta of 0.22. The business has a fifty day moving average of $103.89 and a 200 day moving average of $100.54.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings data on Wednesday, October 1st. The basic materials company reported $4.12 EPS for the quarter, missing the consensus estimate of $4.55 by ($0.43). Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The firm had revenue of $922.60 million during the quarter, compared to the consensus estimate of $931.62 million. During the same period in the previous year, the firm earned $3.06 EPS. The business’s revenue was up 17.4% on a year-over-year basis. Analysts expect 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, November 13th. Shareholders of record on Wednesday, October 29th will be given a $1.37 dividend. The ex-dividend date is Wednesday, October 29th. This represents a $5.48 dividend on an annualized basis and a yield of 6.0%. Cal-Maine Foods’s dividend payout ratio is presently 36.22%.

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.