Bank of Montreal Can Increases Stake in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Bank of Montreal Can increased its position 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 purchasing an additional 200,042 shares during the period. Bank of Montreal Can’s holdings in Cal-Maine Foods were worth $11,707,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. FDx Advisors Inc. purchased a new stake in Cal-Maine Foods in the 1st quarter worth about $209,000. Everence Capital Management Inc. purchased a new position in Cal-Maine Foods during the 2nd quarter valued at about $340,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Cal-Maine Foods during the 2nd quarter valued at about $839,000. Los Angeles Capital Management LLC purchased a new position in Cal-Maine Foods during the 2nd quarter valued at about $2,556,000. Finally, X Square Capital LLC purchased a new position in Cal-Maine Foods during the 1st quarter valued at about $236,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Cal-Maine Foods Trading Down 0.2 %

Shares of CALM opened at $56.88 on Thursday. The company has a market cap of $2.78 billion, a PE ratio of 10.07 and a beta of -0.12. The stock has a 50-day moving average price of $57.39 and a 200-day moving average price of $53.30. Cal-Maine Foods, Inc. has a 12-month low of $35.10 and a 12-month high of $62.64.

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

Cal-Maine Foods Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Wednesday, October 26th were given a $0.85 dividend. This is an increase from Cal-Maine Foods’s previous quarterly dividend of $0.75. The ex-dividend date was Tuesday, October 25th. This represents a $3.40 dividend on an annualized basis and a yield of 5.98%. Cal-Maine Foods’s payout ratio is presently 60.35%.

Insider Buying and Selling

In related news, Director James E. Poole sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 19th. The stock was sold at an average price of $59.45, for a total value of $297,250.00. Following the completion of the sale, the director now owns 10,909 shares in the company, valued at approximately $648,540.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 13.49% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CALM has been the subject of a number of recent analyst reports. TheStreet raised Cal-Maine Foods from a “c+” rating to an “a” rating in a report on Monday, August 22nd. Bank of America reduced their target price on Cal-Maine Foods from $55.00 to $50.00 in a report on Wednesday, September 28th. Stephens lifted their target price on Cal-Maine Foods to $67.00 in a report on Thursday, September 29th. Finally, started coverage on Cal-Maine Foods in a report on Wednesday, October 12th. They set a “buy” rating for the company.

Cal-Maine Foods 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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