Cal-Maine Foods, Inc. $CALM Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership trimmed its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 54.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 393,362 shares of the basic materials company’s stock after selling 472,700 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.80% of Cal-Maine Foods worth $39,191,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. J.W. Cole Advisors Inc. boosted its position in Cal-Maine Foods by 3.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 3,280 shares of the basic materials company’s stock worth $327,000 after purchasing an additional 102 shares in the last quarter. Truist Financial Corp lifted its stake in shares of Cal-Maine Foods by 3.5% in the 2nd quarter. Truist Financial Corp now owns 3,541 shares of the basic materials company’s stock valued at $353,000 after purchasing an additional 121 shares during the period. Evergreen Capital Management LLC boosted its holdings in Cal-Maine Foods by 2.5% during the first quarter. Evergreen Capital Management LLC now owns 5,898 shares of the basic materials company’s stock worth $536,000 after buying an additional 143 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in Cal-Maine Foods by 6.1% during the second quarter. Sequoia Financial Advisors LLC now owns 2,664 shares of the basic materials company’s stock valued at $265,000 after buying an additional 153 shares during the period. Finally, Unison Advisors LLC increased its holdings in Cal-Maine Foods by 1.6% in the second quarter. Unison Advisors LLC now owns 9,941 shares of the basic materials company’s stock valued at $990,000 after buying an additional 155 shares in the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

Cal-Maine Foods Price Performance

Shares of NASDAQ CALM opened at $84.71 on Friday. The company has a 50 day simple moving average of $89.10 and a 200-day simple moving average of $98.91. The company has a market capitalization of $4.11 billion, a P/E ratio of 3.26 and a beta of 0.24. Cal-Maine Foods, Inc. has a 1 year low of $79.55 and a 1 year high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings data on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share for the quarter, missing the consensus estimate of $4.55 by ($0.43). The business 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 company’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.06 earnings per share. As a group, research analysts expect 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 was paid on Thursday, November 13th. Stockholders of record on Wednesday, October 29th were issued a dividend of $1.37 per share. The ex-dividend date was Wednesday, October 29th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 6.5%. Cal-Maine Foods’s dividend payout ratio is currently 21.18%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating on the stock in a research note 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cal-Maine Foods in a research report on Monday. Wall Street Zen downgraded Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Saturday, August 23rd. Finally, The Goldman Sachs Group decreased their target price on shares of Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $101.40.

Insider Activity

In related news, insider Keira L. Lombardo acquired 2,800 shares of Cal-Maine Foods stock in a transaction that occurred on Thursday, October 2nd. The shares were purchased at an average cost of $92.36 per share, for a total transaction of $258,608.00. Following the acquisition, the insider owned 3,738 shares in the company, valued at approximately $345,241.68. This represents a 298.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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.