Cal-Maine Foods, Inc. $CALM Shares Acquired by Truist Financial Corp

Truist Financial Corp raised its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,541 shares of the basic materials company’s stock after acquiring an additional 121 shares during the quarter. Truist Financial Corp’s holdings in Cal-Maine Foods were worth $353,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Investment Management Corp VA ADV boosted its position in shares of Cal-Maine Foods by 172.2% during the 1st quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 248 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Cal-Maine Foods in the 1st quarter valued at about $52,000. AdvisorNet Financial Inc acquired a new stake in shares of Cal-Maine Foods in the 2nd quarter valued at about $54,000. Blue Trust Inc. boosted its position in shares of Cal-Maine Foods by 388.2% in the 1st quarter. Blue Trust Inc. now owns 620 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 493 shares during the period. Finally, Quarry LP boosted its position in shares of Cal-Maine Foods by 1,470.5% in the 1st quarter. Quarry LP now owns 691 shares of the basic materials company’s stock valued at $63,000 after purchasing an additional 647 shares during the period. 84.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Cal-Maine Foods in a research report on Saturday, September 27th. The Goldman Sachs Group decreased their target price on 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 target price on 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 target price on Cal-Maine Foods in a research report on Friday, October 3rd. Finally, Stephens upped their target price on Cal-Maine Foods from $108.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, July 24th. One 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 a consensus rating of “Hold” and an average price target of $101.75.

Insider Activity

In other Cal-Maine Foods news, insider Keira L. Lombardo bought 2,800 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was acquired at an average cost of $92.36 per share, with a total value of $258,608.00. Following the purchase, the insider owned 3,738 shares in the company, valued at approximately $345,241.68. This represents a 298.51% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.90% of the company’s stock.

Cal-Maine Foods Stock Down 1.3%

CALM opened at $91.86 on Friday. The business has a 50 day moving average price of $104.48 and a two-hundred day moving average price of $100.43. The company has a market cap of $4.46 billion, a PE ratio of 3.53 and a beta of 0.22. 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 posted its quarterly earnings data on Wednesday, October 1st. The basic materials company reported $4.12 EPS for the quarter, missing the consensus estimate of $4.55 by ($0.43). The company had revenue of $922.60 million for the quarter, compared to analysts’ expectations 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 revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.06 earnings per share. As a group, sell-side analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Wednesday, October 29th will be paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio is 36.22%.

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.