Cal-Maine Foods, Inc. $CALM Shares Bought by Creative Planning

Creative Planning raised its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 49.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,161 shares of the basic materials company’s stock after purchasing an additional 6,313 shares during the quarter. Creative Planning’s holdings in Cal-Maine Foods were worth $1,909,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Cal-Maine Foods by 13.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,081 shares of the basic materials company’s stock valued at $1,104,000 after buying an additional 1,342 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position in Cal-Maine Foods by 16.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,319 shares of the basic materials company’s stock worth $1,028,000 after acquiring an additional 1,426 shares during the period. Geode Capital Management LLC grew its stake in Cal-Maine Foods by 7.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,095,246 shares of the basic materials company’s stock valued at $109,132,000 after purchasing an additional 76,102 shares during the last quarter. denkapparat Operations GmbH grew its stake in Cal-Maine Foods by 18.9% during the 2nd quarter. denkapparat Operations GmbH now owns 12,242 shares of the basic materials company’s stock valued at $1,220,000 after purchasing an additional 1,942 shares during the last quarter. Finally, Jupiter Asset Management Ltd. increased its holdings in shares of Cal-Maine Foods by 1.2% in the second quarter. Jupiter Asset Management Ltd. now owns 493,090 shares of the basic materials company’s stock valued at $49,127,000 after purchasing an additional 5,876 shares during the period. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Stock Down 1.0%

CALM stock opened at $82.99 on Thursday. Cal-Maine Foods, Inc. has a 52-week low of $79.55 and a 52-week high of $126.40. The firm has a market cap of $4.03 billion, a P/E ratio of 3.19 and a beta of 0.21. The company’s 50-day simple moving average is $91.30 and its 200-day simple moving average is $99.54.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share for the quarter, missing analysts’ consensus estimates of $4.55 by ($0.43). The business had revenue of $922.60 million during 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 business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.06 EPS. On average, analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Wednesday, October 29th were paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend was Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio is presently 21.18%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CALM shares. Wall Street Zen downgraded Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Saturday, August 23rd. BMO Capital Markets decreased their price objective on shares of Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating for the company in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cal-Maine Foods in a report on Monday. The Goldman Sachs Group reduced their target price on shares of Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, October 3rd. Finally, Lake Street Capital set a $97.00 target price on shares of Cal-Maine Foods in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $101.75.

Insider Activity

In other Cal-Maine Foods news, insider Keira L. Lombardo bought 2,800 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were purchased at an average price of $92.36 per share, for a total transaction of $258,608.00. Following the transaction, the insider directly owned 3,738 shares of the company’s stock, valued at approximately $345,241.68. This represents a 298.51% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.90% of the stock is owned by company 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.