Twin Tree Management LP Takes Position in Cal-Maine Foods, Inc. $CALM

Twin Tree Management LP purchased a new stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,015 shares of the basic materials company’s stock, valued at approximately $500,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CALM. GAMMA Investing LLC boosted its position in shares of Cal-Maine Foods by 25.7% during the 1st quarter. GAMMA Investing LLC now owns 1,720 shares of the basic materials company’s stock valued at $156,000 after purchasing an additional 352 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Cal-Maine Foods by 388.2% during the 1st quarter. Blue Trust Inc. now owns 620 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 493 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Cal-Maine Foods by 23.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,683 shares of the basic materials company’s stock valued at $789,000 after purchasing an additional 1,660 shares in the last quarter. Harbour Capital Advisors LLC bought a new stake in shares of Cal-Maine Foods during the 1st quarter valued at about $263,000. Finally, Archford Capital Strategies LLC bought a new stake in shares of Cal-Maine Foods during the 1st quarter valued at about $2,491,000. Institutional investors own 84.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Stephens upped their target price on Cal-Maine Foods from $108.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, July 24th. Weiss Ratings restated a “buy (b)” rating on shares of Cal-Maine Foods in a research report on Saturday, September 27th. BMO Capital Markets cut 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 report on Friday, October 3rd. Wall Street Zen lowered Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Saturday, August 23rd. Finally, The Goldman Sachs Group cut their price target on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $101.75.

Insider Activity at Cal-Maine Foods

In related news, insider Keira L. Lombardo acquired 2,800 shares of the stock in a transaction dated Thursday, October 2nd. The stock was purchased at an average cost of $92.36 per share, with a total value of $258,608.00. Following the completion of the purchase, the insider directly owned 3,738 shares in the company, valued at $345,241.68. This trade represents a 298.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.90% of the stock is currently owned by company insiders.

Cal-Maine Foods Stock Performance

Shares of NASDAQ:CALM opened at $94.56 on Friday. The business’s 50 day simple moving average is $104.21 and its two-hundred day simple moving average is $100.45. The firm has a market cap of $4.59 billion, a P/E ratio of 3.64 and a beta of 0.22. Cal-Maine Foods, Inc. has a 52-week low of $79.55 and a 52-week high of $126.40.

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). The firm had revenue of $922.60 million during the quarter, compared to the consensus estimate of $931.62 million. Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The firm’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 EPS. On average, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Wednesday, October 29th will be paid a $1.37 dividend. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $5.48 annualized dividend and a dividend yield of 5.8%. Cal-Maine Foods’s dividend payout ratio is 36.22%.

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.