Cal-Maine Foods, Inc. $CALM Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 6.1% in the second quarter, Holdings Channel reports. The firm owned 2,933 shares of the basic materials company’s stock after selling 192 shares during the quarter. Ritholtz Wealth Management’s holdings in Cal-Maine Foods were worth $292,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. IFP Advisors Inc grew its stake in Cal-Maine Foods by 195.1% in the second quarter. IFP Advisors Inc now owns 239 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 158 shares in the last quarter. Investment Management Corp VA ADV boosted its stake in Cal-Maine Foods by 172.2% in the first quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 248 shares during the period. AdvisorNet Financial Inc acquired a new position in Cal-Maine Foods in the second quarter valued at approximately $54,000. Caitong International Asset Management Co. Ltd acquired a new position in Cal-Maine Foods in the first quarter valued at approximately $52,000. Finally, Blue Trust Inc. boosted its stake in Cal-Maine Foods by 388.2% in the first quarter. Blue Trust Inc. now owns 620 shares of the basic materials company’s stock valued at $56,000 after acquiring an additional 493 shares during the period. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Keira L. Lombardo bought 2,800 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were purchased at an average price 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 in the company, valued at approximately $345,241.68. This trade represents a 298.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Cal-Maine Foods in a research note on Saturday, September 27th. Stephens lifted their target price on Cal-Maine Foods from $108.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, July 24th. Wall Street Zen downgraded Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Saturday, August 23rd. Lake Street Capital set a $97.00 target price on Cal-Maine Foods in a research note on Friday, October 3rd. Finally, BMO Capital Markets decreased their target price on Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating for the company in a research note on Friday, October 3rd. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $101.75.

Cal-Maine Foods Price Performance

Shares of NASDAQ:CALM opened at $91.25 on Tuesday. Cal-Maine Foods, Inc. has a 12 month low of $79.55 and a 12 month high of $126.40. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of 3.51 and a beta of 0.22. The stock’s 50 day moving average price is $103.89 and its 200 day moving average price is $100.54.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Wednesday, October 1st. The basic materials company reported $4.12 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $922.60 million for the quarter, compared to the consensus estimate of $931.62 million. During the same period in the previous year, the firm earned $3.06 EPS. Cal-Maine Foods’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, sell-side analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Cal-Maine Foods Cuts Dividend

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

Cal-Maine Foods 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.