Edgestream Partners L.P. Sells 50,432 Shares of Cal-Maine Foods, Inc. $CALM

Edgestream Partners L.P. cut its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 73.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,489 shares of the basic materials company’s stock after selling 50,432 shares during the quarter. Edgestream Partners L.P.’s holdings in Cal-Maine Foods were worth $1,842,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CALM. Everstar Asset Management LLC raised its stake in shares of Cal-Maine Foods by 14.3% in the second quarter. Everstar Asset Management LLC now owns 8,567 shares of the basic materials company’s stock valued at $854,000 after acquiring an additional 1,073 shares during the period. New York State Common Retirement Fund raised its position in Cal-Maine Foods by 82.4% in the 2nd quarter. New York State Common Retirement Fund now owns 23,246 shares of the basic materials company’s stock worth $2,316,000 after purchasing an additional 10,500 shares during the period. Skandinaviska Enskilda Banken AB publ bought a new stake in Cal-Maine Foods in the second quarter worth about $1,904,000. Norges Bank bought a new stake in Cal-Maine Foods in the second quarter worth about $8,829,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of Cal-Maine Foods during the second quarter valued at approximately $578,000. 84.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CALM has been the subject of a number of research analyst reports. Lake Street Capital set a $97.00 price target on Cal-Maine Foods in a research note on Friday, October 3rd. BMO Capital Markets reduced 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 note on Friday, October 3rd. Benchmark assumed coverage on Cal-Maine Foods in a research report on Monday. They set a “buy” rating and a $100.00 target price for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Cal-Maine Foods in a report on Monday. Finally, The Goldman Sachs Group reduced their price target 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 analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Cal-Maine Foods presently has an average rating of “Hold” and a consensus price target of $101.40.

Cal-Maine Foods Price Performance

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

Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Wednesday, October 1st. The basic materials company reported $4.12 EPS for the quarter, missing analysts’ consensus estimates of $4.55 by ($0.43). Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The business had revenue of $922.60 million for the quarter, compared to analysts’ expectations of $931.62 million. During the same period last year, the business posted $3.06 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. Sell-side analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Wednesday, October 29th were paid a $1.37 dividend. The ex-dividend date of this dividend was Wednesday, October 29th. This represents a $5.48 dividend on an annualized basis and a yield of 6.5%. Cal-Maine Foods’s payout ratio is 21.18%.

Insiders Place Their Bets

In related news, insider Keira L. Lombardo bought 2,800 shares of the stock in a transaction on Thursday, October 2nd. The stock was bought at an average price of $92.36 per share, for a total transaction of $258,608.00. Following the completion of the acquisition, the insider directly 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.90% of the stock is currently owned by corporate 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.