5,932 Shares in Cal-Maine Foods, Inc. $CALM Acquired by FCG Investment Co

FCG Investment Co bought a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,932 shares of the basic materials company’s stock, valued at approximately $558,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. IFP Advisors Inc lifted its stake in shares of Cal-Maine Foods by 195.1% in the second quarter. IFP Advisors Inc now owns 239 shares of the basic materials company’s stock worth $25,000 after buying an additional 158 shares during the last quarter. Carolina Wealth Advisors LLC bought a new position in Cal-Maine Foods in the 3rd quarter worth $47,000. AdvisorNet Financial Inc bought a new position in Cal-Maine Foods in the 2nd quarter worth $54,000. Quarry LP boosted its holdings in Cal-Maine Foods by 1,470.5% during the first quarter. Quarry LP now owns 691 shares of the basic materials company’s stock valued at $63,000 after acquiring an additional 647 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in shares of Cal-Maine Foods by 80.9% in the second quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company’s stock valued at $67,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CALM. Weiss Ratings reissued a “buy (b-)” rating on shares of Cal-Maine Foods in a research report on Monday. Wall Street Zen lowered Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Saturday, August 23rd. The Goldman Sachs Group reduced their price objective on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, October 3rd. Benchmark began coverage on shares of Cal-Maine Foods in a research note on Monday, December 1st. They issued a “buy” rating and a $100.00 price objective on the stock. Finally, BMO Capital Markets cut their target price 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. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $101.40.

Cal-Maine Foods Stock Down 1.8%

Cal-Maine Foods stock opened at $86.07 on Friday. The business has a 50 day moving average price of $87.94 and a two-hundred day moving average price of $98.38. Cal-Maine Foods, Inc. has a 12 month low of $79.55 and a 12 month high of $126.40. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 3.31 and a beta of 0.24.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.55 by ($0.43). The firm had revenue of $922.60 million for the quarter, compared to the consensus estimate of $931.62 million. Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.06 earnings per share. On average, analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Wednesday, October 29th were paid a $1.37 dividend. The ex-dividend date was Wednesday, October 29th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 6.4%. Cal-Maine Foods’s dividend payout ratio is currently 21.18%.

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods news, insider Keira L. Lombardo acquired 2,800 shares of Cal-Maine Foods stock in a transaction dated 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 acquisition, the insider owned 3,738 shares of the company’s stock, valued at approximately $345,241.68. The trade was a 298.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.