Envestnet Portfolio Solutions Inc. Takes $683,000 Position in Cal-Maine Foods, Inc. $CALM

Envestnet Portfolio Solutions Inc. bought a new stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,858 shares of the basic materials company’s stock, valued at approximately $683,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. IFP Advisors Inc raised its holdings in Cal-Maine Foods by 195.1% in the 2nd 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 increased its position in shares of Cal-Maine Foods by 172.2% during the first quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company’s stock valued at $36,000 after buying an additional 248 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Cal-Maine Foods in the first quarter worth about $52,000. AdvisorNet Financial Inc bought a new position in Cal-Maine Foods in the second quarter worth about $54,000. Finally, Blue Trust Inc. lifted its holdings 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 worth $56,000 after buying an additional 493 shares during the period. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Insiders Place Their Bets

In other Cal-Maine Foods news, insider Keira L. Lombardo acquired 2,800 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were acquired at an average cost of $92.36 per share, with a total value of $258,608.00. Following the transaction, the insider owned 3,738 shares of the company’s stock, valued at $345,241.68. The trade was a 298.51% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.90% of the stock is currently owned by insiders.

Cal-Maine Foods Trading Down 3.5%

Cal-Maine Foods stock 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 company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 3.51 and a beta of 0.22. The business’s fifty day simple moving average is $103.89 and its two-hundred day simple moving average is $100.54.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share (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 company had revenue of $922.60 million during the quarter, compared to analysts’ expectations of $931.62 million. During the same period in the prior year, the firm earned $3.06 EPS. Cal-Maine Foods’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, equities research analysts predict that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Cal-Maine Foods Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Wednesday, October 29th will be given 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 dividend yield of 6.0%. Cal-Maine Foods’s dividend payout ratio (DPR) is 36.22%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CALM shares. Stephens upped their target price on Cal-Maine Foods from $108.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday, July 24th. Lake Street Capital set a $97.00 price target on Cal-Maine Foods in a research note on Friday, October 3rd. The Goldman Sachs Group decreased their price objective on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, October 3rd. BMO Capital Markets dropped their target price on shares of Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating on the stock in a report on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cal-Maine Foods in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Cal-Maine Foods has a consensus rating of “Hold” and an average target price 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.