Cal-Maine Foods, Inc. $CALM Shares Sold by Assetmark Inc.

Assetmark Inc. reduced its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 9.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,568 shares of the basic materials company’s stock after selling 9,106 shares during the period. Assetmark Inc.’s holdings in Cal-Maine Foods were worth $8,326,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CALM. Nuveen LLC acquired a new position in shares of Cal-Maine Foods during the 1st quarter worth approximately $35,322,000. Jupiter Asset Management Ltd. raised its position in shares of Cal-Maine Foods by 336.5% during the 1st quarter. Jupiter Asset Management Ltd. now owns 487,214 shares of the basic materials company’s stock worth $44,288,000 after purchasing an additional 375,604 shares during the last quarter. Empowered Funds LLC raised its position in shares of Cal-Maine Foods by 315.2% during the 1st quarter. Empowered Funds LLC now owns 251,228 shares of the basic materials company’s stock worth $22,837,000 after purchasing an additional 190,715 shares during the last quarter. American Century Companies Inc. raised its position in shares of Cal-Maine Foods by 13.4% during the 1st quarter. American Century Companies Inc. now owns 1,436,943 shares of the basic materials company’s stock worth $130,618,000 after purchasing an additional 170,322 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Cal-Maine Foods by 23.5% during the 1st quarter. Northern Trust Corp now owns 833,054 shares of the basic materials company’s stock worth $75,725,000 after purchasing an additional 158,719 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CALM shares. Stephens lifted their price objective on 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. The Goldman Sachs Group reduced their price target on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, October 3rd. BMO Capital Markets reduced their price target on Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating on the stock in a research note on Friday, October 3rd. Lake Street Capital set a $97.00 price target on Cal-Maine Foods in a research note on Friday, October 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cal-Maine Foods in a research note on Saturday, September 27th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $101.75.

Cal-Maine Foods Stock Up 1.1%

CALM stock opened at $87.80 on Friday. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 3.38 and a beta of 0.22. The business has a fifty day simple moving average of $99.94 and a 200-day simple moving average of $100.22. Cal-Maine Foods, Inc. has a 52 week low of $79.55 and a 52 week high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data 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). The firm had revenue of $922.60 million for the quarter, compared to analyst estimates of $931.62 million. Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.06 earnings per share. As a group, 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Wednesday, October 29th will be issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio is presently 21.07%.

Insider Activity at Cal-Maine Foods

In other news, insider Keira L. Lombardo acquired 2,800 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was acquired at an average cost of $92.36 per share, for a total transaction of $258,608.00. Following the acquisition, the insider directly owned 3,738 shares in the company, valued at approximately $345,241.68. This represents a 298.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 3.90% of the stock is currently owned by insiders.

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.