Kestra Investment Management LLC Decreases Holdings in Cal-Maine Foods, Inc. $CALM

Kestra Investment Management LLC cut its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 29.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,336 shares of the basic materials company’s stock after selling 9,236 shares during the period. Kestra Investment Management LLC’s holdings in Cal-Maine Foods were worth $1,777,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. New Age Alpha Advisors LLC raised its stake in Cal-Maine Foods by 15.0% during the 4th quarter. New Age Alpha Advisors LLC now owns 2,145 shares of the basic materials company’s stock valued at $171,000 after buying an additional 279 shares during the last quarter. MQS Management LLC raised its stake in Cal-Maine Foods by 20.1% during the 4th quarter. MQS Management LLC now owns 2,745 shares of the basic materials company’s stock valued at $218,000 after buying an additional 459 shares during the last quarter. Americana Partners LLC purchased a new stake in Cal-Maine Foods during the 4th quarter valued at $250,000. Cadence Wealth Management LLC raised its stake in Cal-Maine Foods by 8.1% during the 4th quarter. Cadence Wealth Management LLC now owns 3,692 shares of the basic materials company’s stock valued at $294,000 after buying an additional 276 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in Cal-Maine Foods by 285.3% during the 4th quarter. Global Retirement Partners LLC now owns 3,325 shares of the basic materials company’s stock valued at $265,000 after buying an additional 2,462 shares during the last quarter. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Cal-Maine Foods Stock Performance

Shares of CALM stock opened at $76.00 on Wednesday. Cal-Maine Foods, Inc. has a 52-week low of $71.92 and a 52-week high of $126.40. The firm has a market capitalization of $3.60 billion, a PE ratio of 5.30 and a beta of 0.28. The stock has a fifty day simple moving average of $77.89 and a two-hundred day simple moving average of $81.71.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Wednesday, April 1st. The basic materials company reported $1.06 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $655.82 million. During the same quarter in the prior year, the business posted $10.39 EPS. Cal-Maine Foods’s revenue for the quarter was down 53.0% compared to the same quarter last year.

Cal-Maine Foods Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Wednesday, April 29th. Cal-Maine Foods’s dividend payout ratio is presently 9.97%.

Analyst Ratings Changes

A number of brokerages have weighed in on CALM. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cal-Maine Foods in a research note on Friday, March 27th. Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a research note on Tuesday. Stephens upped their price objective 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. Royal Bank Of Canada set a $100.00 price objective on Cal-Maine Foods in a research note on Tuesday. Finally, BMO Capital Markets reduced their price objective 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. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $94.17.

About Cal-Maine Foods

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.