Burney Co. Buys 12,808 Shares of Cal-Maine Foods, Inc. $CALM

Burney Co. boosted its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 13.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,036 shares of the basic materials company’s stock after acquiring an additional 12,808 shares during the period. Burney Co. owned 0.23% of Cal-Maine Foods worth $10,354,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CALM. J.W. Cole Advisors Inc. boosted its stake in shares of 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 valued at $327,000 after purchasing an additional 102 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Cal-Maine Foods by 12.8% during the second quarter. Smartleaf Asset Management LLC now owns 1,022 shares of the basic materials company’s stock worth $101,000 after buying an additional 116 shares during the last quarter. Truist Financial Corp lifted its holdings in Cal-Maine Foods by 3.5% in the second quarter. Truist Financial Corp now owns 3,541 shares of the basic materials company’s stock valued at $353,000 after buying an additional 121 shares during the period. GAMMA Investing LLC boosted its position in Cal-Maine Foods by 4.9% during the third quarter. GAMMA Investing LLC now owns 3,019 shares of the basic materials company’s stock valued at $284,000 after acquiring an additional 142 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its position 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 valued at $536,000 after acquiring an additional 143 shares during the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Stock Performance

Shares of Cal-Maine Foods stock opened at $81.98 on Friday. The stock has a market capitalization of $3.98 billion, a PE ratio of 3.15 and a beta of 0.24. Cal-Maine Foods, Inc. has a 52 week low of $79.55 and a 52 week high of $126.40. The stock has a 50 day moving average price of $86.74 and a two-hundred day moving average price of $97.81.

Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results 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). Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The firm had revenue of $922.60 million during the quarter, compared to the consensus estimate of $931.62 million. During the same quarter in the prior year, the business earned $3.06 earnings per share. Cal-Maine Foods’s revenue for the quarter was up 17.4% on a year-over-year basis. Research analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current 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 issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date was Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 21.18%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Lake Street Capital set a $97.00 price objective on Cal-Maine Foods in a research note on Friday, October 3rd. Benchmark assumed coverage on Cal-Maine Foods in a research note on Monday, December 1st. They issued a “buy” rating and a $100.00 price target on the stock. BMO Capital Markets reduced 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 report on Friday, October 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cal-Maine Foods in a research note on Monday. Finally, The Goldman Sachs Group cut 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. Based on data from MarketBeat, Cal-Maine Foods has an average rating of “Hold” and an average price target of $101.40.

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 stock was bought at an average cost 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 approximately $345,241.68. The trade was a 298.51% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 3.90% of the stock is 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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.