Advisors Asset Management Inc. raised its position in Cal-Maine Foods Inc (NASDAQ:CALM) by 65.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,706 shares of the basic materials company’s stock after purchasing an additional 8,190 shares during the period. Advisors Asset Management Inc.’s holdings in Cal-Maine Foods were worth $254,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Cal-Maine Foods in the 1st quarter valued at about $140,000. NumerixS Investment Technologies Inc purchased a new position in Cal-Maine Foods in the 2nd quarter valued at about $190,000. Sciencast Management LP purchased a new position in Cal-Maine Foods in the 1st quarter valued at about $222,000. Amalgamated Bank purchased a new position in Cal-Maine Foods in the 2nd quarter valued at about $219,000. Finally, Callahan Advisors LLC purchased a new position in shares of Cal-Maine Foods during the 2nd quarter worth about $231,000. Institutional investors own 59.30% of the company’s stock.
CALM has been the topic of several recent analyst reports. Stephens lowered shares of Cal-Maine Foods from an “overweight” rating to an “equal weight” rating in a report on Monday, October 1st. BidaskClub upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Tuesday, August 14th. Zacks Investment Research lowered shares of Cal-Maine Foods from a “strong-buy” rating to a “hold” rating in a report on Friday, August 10th. Finally, ValuEngine upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Cal-Maine Foods has an average rating of “Hold” and an average target price of $54.50.
In other Cal-Maine Foods news, CFO Max P. Bowman bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, October 11th. The stock was purchased at an average price of $45.51 per share, with a total value of $91,020.00. Following the transaction, the chief financial officer now owns 2,000 shares in the company, valued at $91,020. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Jean Morris Adams sold 40,149 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $44.95, for a total transaction of $1,804,697.55. Following the sale, the insider now directly owns 1,074,895 shares of the company’s stock, valued at approximately $48,316,530.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 225,000 shares of company stock worth $10,027,482. Insiders own 33.03% of the company’s stock.
Shares of CALM stock opened at $45.52 on Friday. The stock has a market cap of $2.35 billion, a PE ratio of 16.03 and a beta of 0.49. Cal-Maine Foods Inc has a 1-year low of $39.50 and a 1-year high of $52.30.
Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Monday, October 1st. The basic materials company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.23). The company had revenue of $340.60 million for the quarter, compared to analysts’ expectations of $346.76 million. Cal-Maine Foods had a return on equity of 16.48% and a net margin of 8.38%. The company’s revenue was up 29.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.33) earnings per share. As a group, research analysts anticipate that Cal-Maine Foods Inc will post 3.35 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be issued a dividend of $0.085 per share. The ex-dividend date is Tuesday, October 30th. This represents a $0.34 annualized dividend and a dividend yield of 0.75%. Cal-Maine Foods’s payout ratio is currently 49.30%.
About Cal-Maine Foods
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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