Scotia Capital Inc. Sells 2,167 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Scotia Capital Inc. trimmed its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM – Get Rating) by 28.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,541 shares of the basic materials company’s stock after selling 2,167 shares during the quarter. Scotia Capital Inc.’s holdings in Cal-Maine Foods were worth $302,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CALM. Signaturefd LLC lifted its stake in shares of Cal-Maine Foods by 118.8% in the third quarter. Signaturefd LLC now owns 466 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 253 shares during the period. Quadrant Capital Group LLC raised its position in shares of Cal-Maine Foods by 795.2% during the third quarter. Quadrant Capital Group LLC now owns 564 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 501 shares during the period. Guardian Wealth Advisors LLC purchased a new position in Cal-Maine Foods in the third quarter valued at approximately $35,000. Strs Ohio purchased a new stake in Cal-Maine Foods in the fourth quarter worth $38,000. Finally, Parallel Advisors LLC raised its stake in Cal-Maine Foods by 41.0% in the 4th quarter. Parallel Advisors LLC now owns 839 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 244 shares during the period. 88.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on CALM shares. StockNews.com started coverage on Cal-Maine Foods in a research report on Thursday. They set a “buy” rating for the company. Stephens cut shares of Cal-Maine Foods from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $67.00 to $60.00 in a research note on Tuesday, April 25th.

Cal-Maine Foods Stock Up 0.3 %

NASDAQ CALM opened at $48.12 on Monday. The stock’s 50 day moving average is $52.91 and its 200 day moving average is $55.51. The firm has a market capitalization of $2.36 billion, a PE ratio of 3.10, a P/E/G ratio of 0.18 and a beta of -0.04. Cal-Maine Foods, Inc. has a twelve month low of $43.96 and a twelve month high of $65.32.

Cal-Maine Foods (NASDAQ:CALM – Get Rating) last released its earnings results on Tuesday, March 28th. The basic materials company reported $6.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.09 by $1.53. The firm had revenue of $997.49 million during the quarter, compared to analyst estimates of $898.93 million. Cal-Maine Foods had a net margin of 24.82% and a return on equity of 58.83%. The business’s revenue was up 108.9% on a year-over-year basis. During the same period last year, the business earned $0.81 earnings per share. On average, research analysts anticipate that Cal-Maine Foods, Inc. will post 16.25 earnings per share for the current year.

Cal-Maine Foods Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 11th. Shareholders of record on Wednesday, April 26th were given a $2.20 dividend. This is a positive change from Cal-Maine Foods’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Tuesday, April 25th. This represents a $8.80 dividend on an annualized basis and a yield of 18.29%. Cal-Maine Foods’s payout ratio is 56.74%.

Insiders Place Their Bets

In other Cal-Maine Foods news, EVP Charles Jeff Hardin sold 1,201 shares of the business’s stock in a transaction dated Friday, March 31st. The stock was sold at an average price of $60.15, for a total value of $72,240.15. Following the completion of the transaction, the executive vice president now owns 4,194 shares of the company’s stock, valued at approximately $252,269.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. 13.49% of the stock is owned by insiders.

About Cal-Maine Foods

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Cal-Maine Foods, Inc engages in the production, grading, packing, marketing, and distribution of fresh shell eggs. The firm operates farms, processing plants, hatcheries, feed mills, warehouses, offices and other properties. It markets shell eggs to national and regional grocery store chains, club stores, foodservice distributors, and egg product manufacturers.