Praxis Investment Management Inc. Decreases Stock Position in Cal-Maine Foods, Inc. $CALM

Praxis Investment Management Inc. cut its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 32.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,850 shares of the basic materials company’s stock after selling 1,840 shares during the quarter. Praxis Investment Management Inc.’s holdings in Cal-Maine Foods were worth $384,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc raised 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 purchasing an additional 158 shares during the last quarter. Investment Management Corp VA ADV raised its stake in shares of Cal-Maine Foods by 172.2% in the first quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 248 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Cal-Maine Foods in the first quarter worth about $52,000. AdvisorNet Financial Inc purchased a new position in shares of Cal-Maine Foods in the second quarter worth about $54,000. Finally, Blue Trust Inc. raised its stake in shares of Cal-Maine Foods by 388.2% in the first quarter. Blue Trust Inc. now owns 620 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 493 shares during the last quarter. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CALM has been the subject of several research analyst reports. 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 note on Friday, October 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Cal-Maine Foods in a research note on Saturday, September 27th. Stephens raised their price objective on Cal-Maine Foods from $108.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. Wall Street Zen cut Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Saturday, August 23rd. Finally, BMO Capital Markets reduced their price target on 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. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $101.75.

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods news, insider Keira L. Lombardo acquired 2,800 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was acquired at an average cost of $92.36 per share, for a total transaction of $258,608.00. Following the completion of the transaction, the insider directly owned 3,738 shares of the company’s stock, valued at $345,241.68. This represents a 298.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.90% of the stock is owned by company insiders.

Cal-Maine Foods Trading Up 2.9%

Shares of CALM stock opened at $94.56 on Friday. The stock has a 50 day moving average of $104.21 and a 200 day moving average of $100.50. The stock 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 twelve month low of $79.55 and a twelve month 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 for the quarter, missing the consensus estimate of $4.55 by ($0.43). The company had revenue of $922.60 million for the quarter, compared to analysts’ expectations of $931.62 million. Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.06 earnings per share. On average, research analysts predict 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 will be paid on Thursday, November 13th. Stockholders of record on Wednesday, October 29th will be given a $1.37 dividend. The ex-dividend date is Wednesday, October 29th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 5.8%. Cal-Maine Foods’s payout ratio is 36.22%.

About Cal-Maine Foods

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.