Oppenheimer & Co. Inc. bought a new position in Cal-Maine Foods, Inc. (NASDAQ:CALM – Get Rating) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,773 shares of the basic materials company’s stock, valued at approximately $335,000.
Several other large investors also recently made changes to their positions in the company. US Bancorp DE grew its position in Cal-Maine Foods by 39.1% in the 1st quarter. US Bancorp DE now owns 1,095 shares of the basic materials company’s stock valued at $61,000 after buying an additional 308 shares in the last quarter. KBC Group NV acquired a new position in shares of Cal-Maine Foods during the second quarter valued at approximately $162,000. Strategic Wealth Partners Ltd. bought a new stake in Cal-Maine Foods during the first quarter worth approximately $203,000. Y Intercept Hong Kong Ltd bought a new position in Cal-Maine Foods during the 2nd quarter valued at $205,000. Finally, FDx Advisors Inc. acquired a new position in shares of Cal-Maine Foods during the 1st quarter valued at $209,000. Institutional investors and hedge funds own 78.64% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on CALM shares. TheStreet raised Cal-Maine Foods from a “c+” rating to an “a” rating in a report on Monday, August 22nd. Stephens boosted their target price on shares of Cal-Maine Foods to $67.00 in a report on Thursday, September 29th. Bank of America reduced their target price on shares of Cal-Maine Foods from $55.00 to $50.00 in a report on Wednesday, September 28th. Finally, StockNews.com initiated coverage on Cal-Maine Foods in a report on Wednesday, October 12th. They issued a “buy” rating on the stock.
Cal-Maine Foods Price Performance
Cal-Maine Foods (NASDAQ:CALM – Get Rating) last released its earnings results on Tuesday, September 27th. The basic materials company reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.59. Cal-Maine Foods had a net margin of 13.02% and a return on equity of 25.55%. The company had revenue of $658.34 million during the quarter, compared to the consensus estimate of $617.40 million. During the same quarter in the prior year, the firm earned ($0.37) EPS. The company’s revenue was up 102.6% compared to the same quarter last year. On average, analysts predict that Cal-Maine Foods, Inc. will post 8.1 EPS for the current year.
Cal-Maine Foods Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Wednesday, October 26th were given a dividend of $0.85 per share. This is a boost from Cal-Maine Foods’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Tuesday, October 25th. This represents a $3.40 dividend on an annualized basis and a yield of 6.39%. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 60.35%.
Insider Buying and Selling at Cal-Maine Foods
In other news, Director James E. Poole sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, October 19th. The stock was sold at an average price of $59.45, for a total transaction of $297,250.00. Following the completion of the sale, the director now directly owns 10,909 shares of the company’s stock, valued at approximately $648,540.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.49% of the company’s stock.
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, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, and 4-Grain brand names, as well as under private labels.
- Get a free copy of the StockNews.com research report on Cal-Maine Foods (CALM)
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