Twin Tree Management LP Invests $500,000 in Cal-Maine Foods, Inc. $CALM

Twin Tree Management LP purchased a new stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) in the second quarter, Holdings Channel reports. The firm purchased 5,015 shares of the basic materials company’s stock, valued at approximately $500,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Archford Capital Strategies LLC increased its position in shares of Cal-Maine Foods by 167.2% during the second quarter. Archford Capital Strategies LLC now owns 73,225 shares of the basic materials company’s stock valued at $7,295,000 after acquiring an additional 45,823 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Cal-Maine Foods during the first quarter valued at approximately $527,000. Bank of New York Mellon Corp increased its position in shares of Cal-Maine Foods by 8.7% during the first quarter. Bank of New York Mellon Corp now owns 562,810 shares of the basic materials company’s stock valued at $51,159,000 after acquiring an additional 45,201 shares during the last quarter. KBC Group NV increased its position in shares of Cal-Maine Foods by 23.2% during the first quarter. KBC Group NV now owns 2,071 shares of the basic materials company’s stock valued at $188,000 after acquiring an additional 390 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Cal-Maine Foods by 25.7% during the first quarter. GAMMA Investing LLC now owns 1,720 shares of the basic materials company’s stock valued at $156,000 after acquiring an additional 352 shares during the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cal-Maine Foods

In related news, insider Keira L. Lombardo purchased 2,800 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was purchased at an average cost of $92.36 per share, with a total value of $258,608.00. Following the completion of the acquisition, the insider directly owned 3,738 shares of the company’s stock, valued at approximately $345,241.68. The trade was a 298.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 3.90% of the stock is owned by insiders.

Cal-Maine Foods Price Performance

NASDAQ:CALM opened at $94.56 on Friday. The business has a fifty day simple moving average of $104.21 and a two-hundred day simple moving average of $100.45. Cal-Maine Foods, Inc. has a 1 year low of $79.55 and a 1 year high of $126.40. The company has a market capitalization of $4.59 billion, a P/E ratio of 3.64 and a beta of 0.22.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Wednesday, October 1st. The basic materials company reported $4.12 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 the consensus estimate of $931.62 million. During the same period in the previous year, the business earned $3.06 earnings per share. Cal-Maine Foods’s revenue was up 17.4% on a year-over-year basis. As a group, analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Cal-Maine Foods Cuts Dividend

The business also recently declared 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. This represents a $5.48 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 36.22%.

Analysts Set New Price Targets

CALM has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cal-Maine Foods in a research report on Saturday, September 27th. BMO Capital Markets decreased their price target 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. Lake Street Capital set a $97.00 target price on Cal-Maine Foods in a research report on Friday, October 3rd. Wall Street Zen downgraded Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Saturday, August 23rd. Finally, The Goldman Sachs Group decreased their target price 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. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $101.75.

About Cal-Maine Foods

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.