Cal-Maine Foods, Inc. $CALM Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. raised its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 6.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,102 shares of the basic materials company’s stock after acquiring an additional 3,926 shares during the period. Franklin Resources Inc. owned approximately 0.13% of Cal-Maine Foods worth $6,486,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Cal-Maine Foods by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 4,945,681 shares of the basic materials company’s stock worth $449,562,000 after purchasing an additional 40,075 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Cal-Maine Foods by 13.4% in the first quarter. American Century Companies Inc. now owns 1,436,943 shares of the basic materials company’s stock valued at $130,618,000 after buying an additional 170,322 shares during the period. Geode Capital Management LLC boosted its holdings in Cal-Maine Foods by 7.5% during the second quarter. Geode Capital Management LLC now owns 1,095,246 shares of the basic materials company’s stock worth $109,132,000 after buying an additional 76,102 shares in the last quarter. Northern Trust Corp boosted its stake 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 acquiring an additional 158,719 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Cal-Maine Foods by 3.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 664,304 shares of the basic materials company’s stock worth $60,385,000 after purchasing an additional 20,174 shares in the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Trading Up 0.4%

NASDAQ CALM opened at $83.33 on Monday. The stock has a 50-day simple moving average of $90.53 and a 200 day simple moving average of $99.43. Cal-Maine Foods, Inc. has a 12 month low of $79.55 and a 12 month high of $126.40. The company has a market capitalization of $4.04 billion, a PE ratio of 3.20 and a beta of 0.21.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.55 by ($0.43). Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The business had revenue of $922.60 million during the quarter, compared to the consensus estimate of $931.62 million. During the same quarter last year, the company earned $3.06 earnings per share. The firm’s revenue was up 17.4% compared to the same quarter last year. As a group, sell-side analysts predict that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th were paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date was Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 21.18%.

Analysts Set New Price Targets

CALM has been the topic of a number of research analyst reports. BMO Capital Markets lowered their price target on Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating on the stock in a report on Friday, October 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Cal-Maine Foods in a report on Monday, November 24th. The Goldman Sachs Group decreased their price objective 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. Lake Street Capital set a $97.00 target price on Cal-Maine Foods in a report on Friday, October 3rd. Finally, Wall Street Zen downgraded shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Saturday, August 23rd. One equities research 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 company currently has a consensus rating of “Hold” and a consensus price target of $101.75.

Insider Buying and Selling at Cal-Maine Foods

In other Cal-Maine Foods news, insider Keira L. Lombardo purchased 2,800 shares of the stock in a transaction on Thursday, October 2nd. The shares were purchased at an average price of $92.36 per share, with a total value of $258,608.00. Following the completion of the transaction, the insider directly owned 3,738 shares in the company, valued at $345,241.68. This represents a 298.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.90% of the company’s stock.

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.