NEXT Financial Group Inc acquired a new stake in Cal-Maine Foods Inc (NASDAQ:CALM) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,750 shares of the basic materials company’s stock, valued at approximately $133,000.
Several other hedge funds also recently modified their holdings of CALM. SG Americas Securities LLC bought a new position in shares of Cal-Maine Foods in the 1st quarter valued at approximately $140,000. NumerixS Investment Technologies Inc bought a new position in shares of Cal-Maine Foods in the 2nd quarter valued at approximately $190,000. United Services Automobile Association bought a new position in shares of Cal-Maine Foods in the 2nd quarter valued at approximately $208,000. Amalgamated Bank bought a new position in shares of Cal-Maine Foods in the 2nd quarter valued at approximately $219,000. Finally, Sciencast Management LP bought a new position in shares of Cal-Maine Foods in the 1st quarter valued at approximately $222,000. 59.30% of the stock is currently owned by institutional investors and hedge funds.
CALM has been the topic of a number of recent analyst reports. Stephens downgraded Cal-Maine Foods from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 1st. BidaskClub raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. Zacks Investment Research lowered Cal-Maine Foods from a “strong-buy” rating to a “hold” rating in a report on Friday, August 10th. Finally, ValuEngine raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $54.50.
CALM opened at $45.52 on Friday. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 16.03 and a beta of 0.49. Cal-Maine Foods Inc has a 12-month low of $39.50 and a 12-month high of $52.30.
Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Monday, October 1st. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.23). The business had revenue of $340.60 million during the quarter, compared to analyst estimates of $346.76 million. Cal-Maine Foods had a net margin of 8.38% and a return on equity of 16.48%. The business’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same period last year, the business earned ($0.33) EPS. Equities research analysts forecast that Cal-Maine Foods Inc will post 3.35 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be issued a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Tuesday, October 30th. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 49.30%.
In other Cal-Maine Foods news, CFO Max P. Bowman bought 2,000 shares of the stock in a transaction on Thursday, October 11th. The shares were purchased at an average price of $45.51 per share, with a total value of $91,020.00. Following the acquisition, the chief financial officer now directly owns 2,000 shares of the company’s stock, valued at approximately $91,020. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Jean Morris Adams sold 40,149 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $44.95, for a total value of $1,804,697.55. Following the completion of the sale, the insider now directly owns 1,074,895 shares in the company, valued at approximately $48,316,530.25. The disclosure for this sale can be found here. Insiders sold a total of 225,000 shares of company stock worth $10,027,482 in the last ninety days. Insiders own 33.03% of the company’s stock.
Cal-Maine Foods 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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