Nisa Investment Advisors LLC Buys 1,565 Shares of Cal-Maine Foods, Inc. $CALM

Nisa Investment Advisors LLC raised its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 103.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,072 shares of the basic materials company’s stock after buying an additional 1,565 shares during the period. Nisa Investment Advisors LLC’s holdings in Cal-Maine Foods were worth $306,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CALM. Cambridge Investment Research Advisors Inc. grew its position in shares of Cal-Maine Foods by 23.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,683 shares of the basic materials company’s stock valued at $789,000 after buying an additional 1,660 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Cal-Maine Foods during the 1st quarter valued at about $527,000. KBC Group NV boosted its position in shares of Cal-Maine Foods by 23.2% during the 1st quarter. KBC Group NV now owns 2,071 shares of the basic materials company’s stock valued at $188,000 after purchasing an additional 390 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Cal-Maine Foods by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 226,171 shares of the basic materials company’s stock valued at $20,559,000 after purchasing an additional 5,648 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Cal-Maine Foods by 8.7% during the 1st quarter. Bank of New York Mellon Corp now owns 562,810 shares of the basic materials company’s stock valued at $51,159,000 after purchasing an additional 45,201 shares in the last quarter. Institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Stock Up 1.1%

Shares of Cal-Maine Foods stock opened at $87.80 on Monday. The company has a market cap of $4.26 billion, a PE ratio of 3.38 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. The business has a 50 day moving average price of $99.94 and a 200-day moving average price of $100.27.

Cal-Maine Foods (NASDAQ:CALM) last issued 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 during the quarter, compared to analysts’ expectations of $931.62 million. Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the company earned $3.06 earnings per share. As a group, research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Cal-Maine Foods Cuts Dividend

The firm also recently declared 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. 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 dividend payout ratio (DPR) is presently 21.07%.

Analyst Ratings Changes

Several brokerages recently commented on CALM. Weiss Ratings restated a “buy (b)” rating on shares of Cal-Maine Foods in a research report on Saturday, September 27th. BMO Capital Markets cut their target price on Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating on the stock in a research report on Friday, October 3rd. The Goldman Sachs Group cut their target price on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating on the stock 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 equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $101.75.

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods news, insider Keira L. Lombardo purchased 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was bought 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 $345,241.68. The trade was a 298.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.90% 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, 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.