Axxcess Wealth Management LLC Buys New Stake in Cal-Maine Foods, Inc. $CALM

Axxcess Wealth Management LLC bought a new stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,309 shares of the basic materials company’s stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Cal-Maine Foods by 0.8% during the first quarter. Vanguard Group Inc. now owns 4,945,681 shares of the basic materials company’s stock valued at $449,562,000 after purchasing an additional 40,075 shares during the period. American Century Companies Inc. lifted its position in Cal-Maine Foods by 13.4% during the first quarter. American Century Companies Inc. now owns 1,436,943 shares of the basic materials company’s stock valued at $130,618,000 after purchasing an additional 170,322 shares during the period. Northern Trust Corp lifted its position in Cal-Maine Foods by 23.5% during the first quarter. Northern Trust Corp now owns 833,054 shares of the basic materials company’s stock valued at $75,725,000 after purchasing an additional 158,719 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Cal-Maine Foods by 3.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 664,304 shares of the basic materials company’s stock valued at $60,385,000 after purchasing an additional 20,174 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Cal-Maine Foods by 8.7% in the first quarter. Bank of New York Mellon Corp now owns 562,810 shares of the basic materials company’s stock worth $51,159,000 after acquiring an additional 45,201 shares during the period. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Price Performance

Cal-Maine Foods stock opened at $94.56 on Friday. The firm has a 50 day simple moving average of $104.21 and a 200-day simple moving average of $100.50. Cal-Maine Foods, Inc. has a 1-year low of $79.55 and a 1-year high of $126.40. The stock has a market cap of $4.59 billion, a price-to-earnings 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 earnings per share for the quarter, missing the consensus estimate of $4.55 by ($0.43). Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The firm had revenue of $922.60 million during the quarter, compared to analysts’ expectations of $931.62 million. During the same period last year, the company earned $3.06 EPS. The business’s quarterly revenue was up 17.4% on a year-over-year basis. Equities 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 disclosed 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 dividend on an annualized basis and a dividend yield of 5.8%. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 36.22%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Saturday, August 23rd. The Goldman Sachs Group decreased their price objective on shares of 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 decreased their price objective on shares of 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 price objective on shares of Cal-Maine Foods in a research report on Friday, October 3rd. Finally, Stephens upped their price target on shares of 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. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $101.75.

Insider Buying and Selling at Cal-Maine Foods

In related news, insider Keira L. Lombardo acquired 2,800 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was purchased at an average price 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 approximately $345,241.68. This trade represents a 298.51% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.90% of the company’s stock.

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.