Campbell & CO Investment Adviser LLC Has $1.60 Million Stock Holdings in Cal-Maine Foods, Inc. $CALM

Campbell & CO Investment Adviser LLC grew its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 54.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 16,073 shares of the basic materials company’s stock after buying an additional 5,647 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Cal-Maine Foods were worth $1,601,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CALM. Archford Capital Strategies LLC boosted its stake in Cal-Maine Foods by 167.2% during the 2nd quarter. Archford Capital Strategies LLC now owns 73,225 shares of the basic materials company’s stock worth $7,295,000 after acquiring an additional 45,823 shares during the last quarter. Strs Ohio bought a new stake in Cal-Maine Foods in the first quarter valued at approximately $1,154,000. Royal Bank of Canada raised its holdings in Cal-Maine Foods by 16.1% in the first quarter. Royal Bank of Canada now owns 156,322 shares of the basic materials company’s stock worth $14,210,000 after purchasing an additional 21,630 shares during the period. Acadian Asset Management LLC boosted its position in shares of Cal-Maine Foods by 22.2% during the first quarter. Acadian Asset Management LLC now owns 493,609 shares of the basic materials company’s stock worth $44,848,000 after purchasing an additional 89,823 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Cal-Maine Foods during the first quarter worth $548,000. Institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Price Performance

Shares of Cal-Maine Foods stock opened at $88.67 on Tuesday. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 3.41 and a beta of 0.21. The stock’s 50-day moving average is $96.69 and its 200-day moving average is $100.12. Cal-Maine Foods, Inc. has a one year low of $79.55 and a one year high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last announced 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). The firm had revenue of $922.60 million during the quarter, compared to analyst estimates of $931.62 million. Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.06 EPS. On average, equities analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Cal-Maine Foods Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Wednesday, October 29th will be given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend is Wednesday, October 29th. Cal-Maine Foods’s payout ratio is currently 21.18%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CALM. The Goldman Sachs Group lowered 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 lowered their price target on Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating for the company in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cal-Maine Foods in a research report on Saturday, September 27th. Lake Street Capital set a $97.00 price objective on Cal-Maine Foods in a report on Friday, October 3rd. Finally, Stephens increased their target price on Cal-Maine Foods from $108.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. 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, Cal-Maine Foods presently has an average rating of “Hold” and an average target price of $101.75.

Insider Buying and Selling

In related news, insider Keira L. Lombardo purchased 2,800 shares of Cal-Maine Foods stock in a transaction that occurred on 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 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.90% of the company’s stock.

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.