BNP Paribas Arbitrage SA Grows Holdings in Cal-Maine Foods Inc (CALM)
BNP Paribas Arbitrage SA boosted its position in shares of Cal-Maine Foods Inc (NASDAQ:CALM) by 101.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 11,001 shares of the basic materials company’s stock after buying an additional 5,529 shares during the period. BNP Paribas Arbitrage SA’s holdings in Cal-Maine Foods were worth $491,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Piedmont Investment Advisors Inc. increased its holdings in Cal-Maine Foods by 3.4% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 7,213 shares of the basic materials company’s stock worth $305,000 after purchasing an additional 234 shares during the period. Mondrian Investment Partners LTD increased its holdings in shares of Cal-Maine Foods by 0.4% in the 4th quarter. Mondrian Investment Partners LTD now owns 76,544 shares of the basic materials company’s stock valued at $3,238,000 after acquiring an additional 275 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Cal-Maine Foods by 3.0% in the 4th quarter. State of Alaska Department of Revenue now owns 10,118 shares of the basic materials company’s stock valued at $427,000 after acquiring an additional 295 shares during the period. Hsbc Holdings PLC increased its holdings in shares of Cal-Maine Foods by 0.7% in the 4th quarter. Hsbc Holdings PLC now owns 50,384 shares of the basic materials company’s stock valued at $2,131,000 after acquiring an additional 371 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in shares of Cal-Maine Foods by 67.3% in the 4th quarter. Meeder Asset Management Inc. now owns 994 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 400 shares during the period. Institutional investors own 64.91% of the company’s stock.
In related news, VP Robert L. Holladay, Jr. sold 1,200 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $41.61, for a total transaction of $49,932.00. Following the transaction, the vice president now directly owns 10,690 shares in the company, valued at approximately $444,810.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James E. Poole sold 2,500 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $42.76, for a total value of $106,900.00. Following the transaction, the director now owns 8,222 shares in the company, valued at $351,572.72. The disclosure for this sale can be found here. Company insiders own 33.03% of the company’s stock.
Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results on Monday, April 1st. The basic materials company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.32. Cal-Maine Foods had a return on equity of 15.09% and a net margin of 9.57%. The business had revenue of $383.99 million for the quarter, compared to the consensus estimate of $385.49 million. During the same period last year, the business posted $1.99 EPS. The business’s revenue was down 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cal-Maine Foods Inc will post 1.09 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Wednesday, May 1st were issued a $0.272 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This is an increase from Cal-Maine Foods’s previous quarterly dividend of $0.15. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.52%. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 38.38%.
A number of brokerages have recently issued reports on CALM. BidaskClub upgraded Cal-Maine Foods from a “sell” rating to a “hold” rating in a report on Saturday, May 4th. ValuEngine upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Finally, Stephens set a $40.00 price target on Cal-Maine Foods and gave the company a “hold” rating in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Cal-Maine Foods currently has a consensus rating of “Hold” and an average target price of $47.00.
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Cal-Maine Foods Company Profile
Cal-Maine Foods, Inc 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, and 4-Grain brand names, as well as under private labels.
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