Bayforest Capital Ltd Buys 4,600 Shares of Cal-Maine Foods, Inc. $CALM

Bayforest Capital Ltd lifted its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 79.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 10,380 shares of the basic materials company’s stock after acquiring an additional 4,600 shares during the period. Bayforest Capital Ltd’s holdings in Cal-Maine Foods were worth $1,034,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. IFP Advisors Inc boosted its stake in shares of Cal-Maine Foods by 195.1% during the 2nd quarter. IFP Advisors Inc now owns 239 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 158 shares in the last quarter. Investment Management Corp VA ADV boosted its stake in shares of Cal-Maine Foods by 172.2% during the 1st quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 248 shares in the last quarter. AdvisorNet Financial Inc bought a new stake in shares of Cal-Maine Foods during the 2nd quarter worth about $54,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Cal-Maine Foods during the 1st quarter worth about $52,000. Finally, Blue Trust Inc. boosted its stake in shares of Cal-Maine Foods by 388.2% during the 1st quarter. Blue Trust Inc. now owns 620 shares of the basic materials company’s stock worth $56,000 after acquiring an additional 493 shares in the last quarter. Institutional investors own 84.67% of the company’s stock.

Insider Activity

In related news, insider Keira L. Lombardo bought 2,800 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was acquired at an average cost of $92.36 per share, with a total value of $258,608.00. Following the acquisition, the insider owned 3,738 shares in the company, valued at approximately $345,241.68. This represents a 298.51% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.90% of the company’s stock.

Cal-Maine Foods Stock Down 2.5%

Cal-Maine Foods stock opened at $92.03 on Tuesday. Cal-Maine Foods, Inc. has a 12 month low of $79.55 and a 12 month high of $126.40. The business has a 50 day moving average price of $105.22 and a two-hundred day moving average price of $100.52. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of 3.54 and a beta of 0.22.

Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.55 by ($0.43). Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The company had revenue of $922.60 million during the quarter, compared to analyst estimates of $931.62 million. During the same period in the previous year, the company posted $3.06 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. On average, analysts expect that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Wednesday, October 29th will be issued a $1.37 dividend. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 6.0%. Cal-Maine Foods’s dividend payout ratio is presently 36.22%.

Analysts Set New Price Targets

Several research firms recently weighed in on CALM. The Goldman Sachs Group cut their price objective on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, October 3rd. BMO Capital Markets cut their price objective on Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating for the company in a research report on Friday, October 3rd. Stephens boosted their price objective on Cal-Maine Foods from $108.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. Lake Street Capital set a $97.00 price objective on Cal-Maine Foods in a research report on Friday, October 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cal-Maine Foods in a research report on Saturday, September 27th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $101.75.

Cal-Maine Foods Company Profile

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, free-range, pasture-raised, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4Grain brand names.