Bank of Montreal Can Has $11.71 Million Holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Bank of Montreal Can raised its stake in Cal-Maine Foods, Inc. (NASDAQ:CALMGet Rating) by 678.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 229,507 shares of the basic materials company’s stock after buying an additional 200,042 shares during the quarter. Bank of Montreal Can’s holdings in Cal-Maine Foods were worth $11,707,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CALM. Assenagon Asset Management S.A. increased its position in Cal-Maine Foods by 92.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 503,349 shares of the basic materials company’s stock valued at $24,870,000 after acquiring an additional 241,338 shares in the last quarter. Leeward Investments LLC MA acquired a new stake in Cal-Maine Foods in the 1st quarter valued at about $12,247,000. JPMorgan Chase & Co. grew its position in shares of Cal-Maine Foods by 110.1% during the 1st quarter. JPMorgan Chase & Co. now owns 156,722 shares of the basic materials company’s stock worth $8,654,000 after buying an additional 82,125 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Cal-Maine Foods during the 1st quarter worth approximately $3,555,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Cal-Maine Foods by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,553,571 shares of the basic materials company’s stock worth $85,783,000 after buying an additional 58,004 shares during the period. Institutional investors and hedge funds own 78.64% of the company’s stock.

Cal-Maine Foods Price Performance

Cal-Maine Foods stock opened at $56.88 on Thursday. The company’s 50 day simple moving average is $57.39 and its 200 day simple moving average is $53.30. Cal-Maine Foods, Inc. has a fifty-two week low of $35.10 and a fifty-two week high of $62.64. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 10.07 and a beta of -0.12.

Cal-Maine Foods (NASDAQ:CALMGet Rating) last released its quarterly earnings data on Tuesday, September 27th. The basic materials company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.59. Cal-Maine Foods had a net margin of 13.02% and a return on equity of 25.55%. The business had revenue of $658.34 million for the quarter, compared to analyst estimates of $617.40 million. During the same quarter last year, the firm earned ($0.37) EPS. Cal-Maine Foods’s quarterly revenue was up 102.6% compared to the same quarter last year. As a group, analysts predict that Cal-Maine Foods, Inc. will post 8.1 EPS for the current fiscal year.

Cal-Maine Foods Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Wednesday, October 26th were paid a dividend of $0.85 per share. This is a positive change from Cal-Maine Foods’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Tuesday, October 25th. This represents a $3.40 annualized dividend and a yield of 5.98%. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 60.35%.

Insider Buying and Selling

In other Cal-Maine Foods news, Director James E. Poole sold 5,000 shares of Cal-Maine Foods stock in a transaction that occurred on Wednesday, October 19th. The shares were sold at an average price of $59.45, for a total value of $297,250.00. Following the transaction, the director now owns 10,909 shares of the company’s stock, valued at $648,540.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 13.49% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on CALM shares. Stephens lifted their price target on shares of Cal-Maine Foods to $67.00 in a research report on Thursday, September 29th. StockNews.com started coverage on shares of Cal-Maine Foods in a research report on Wednesday, October 12th. They set a “buy” rating for the company. TheStreet upgraded shares of Cal-Maine Foods from a “c+” rating to an “a” rating in a research report on Monday, August 22nd. Finally, Bank of America lowered their price target on shares of Cal-Maine Foods from $55.00 to $50.00 in a research report on Wednesday, September 28th.

Cal-Maine Foods Company Profile

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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, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, 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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