Meeder Asset Management Inc. Increases Stock Holdings in Cal-Maine Foods, Inc. $CALM

Meeder Asset Management Inc. grew its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 553.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,746 shares of the basic materials company’s stock after purchasing an additional 11,641 shares during the period. Meeder Asset Management Inc.’s holdings in Cal-Maine Foods were worth $1,293,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. New York State Teachers Retirement System grew its holdings in shares of Cal-Maine Foods by 0.5% in the third quarter. New York State Teachers Retirement System now owns 51,961 shares of the basic materials company’s stock valued at $4,890,000 after purchasing an additional 249 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in Cal-Maine Foods by 3.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 10,223 shares of the basic materials company’s stock valued at $962,000 after buying an additional 300 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Cal-Maine Foods by 36.4% in the third quarter. Nisa Investment Advisors LLC now owns 4,190 shares of the basic materials company’s stock worth $394,000 after acquiring an additional 1,118 shares in the last quarter. Foster & Motley Inc. grew its stake in shares of Cal-Maine Foods by 262.2% in the third quarter. Foster & Motley Inc. now owns 7,468 shares of the basic materials company’s stock worth $703,000 after acquiring an additional 5,406 shares in the last quarter. Finally, Cypress Capital LLC purchased a new stake in shares of Cal-Maine Foods during the third quarter worth $722,000. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Stock Performance

Shares of NASDAQ CALM opened at $73.69 on Monday. The stock’s 50-day simple moving average is $84.60 and its 200-day simple moving average is $96.32. The firm has a market capitalization of $3.57 billion, a PE ratio of 3.11 and a beta of 0.26. Cal-Maine Foods, Inc. has a fifty-two week low of $72.52 and a fifty-two week high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Cal-Maine Foods had a net margin of 27.37% and a return on equity of 44.55%. The business had revenue of $769.50 million during the quarter, compared to analyst estimates of $828.46 million. During the same period last year, the company earned $4.47 earnings per share. The business’s revenue for the quarter was down 19.4% compared to the same quarter last year. On average, sell-side analysts forecast that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 12th. Investors of record on Wednesday, January 28th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, January 28th. Cal-Maine Foods’s dividend payout ratio (DPR) is 23.28%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CALM shares. Weiss Ratings lowered Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a research note on Monday, January 5th. Stephens set a $85.00 target price on shares of Cal-Maine Foods and gave the stock an “equal weight” rating in a research note on Thursday. Lake Street Capital set a $97.00 target price on shares of Cal-Maine Foods in a report on Friday, October 3rd. Finally, The Goldman Sachs Group decreased their price target on shares of Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $93.00.

Cal-Maine Foods Company 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.