6,858 Shares in Cal-Maine Foods, Inc. $CALM Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. purchased a new stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,858 shares of the basic materials company’s stock, valued at approximately $683,000.

A number of other large investors have also recently modified their holdings of the business. Sequoia Financial Advisors LLC increased its position in shares of Cal-Maine Foods by 6.1% in the second quarter. Sequoia Financial Advisors LLC now owns 2,664 shares of the basic materials company’s stock worth $265,000 after purchasing an additional 153 shares during the last quarter. Vest Financial LLC increased its holdings in shares of Cal-Maine Foods by 15.6% in the 2nd quarter. Vest Financial LLC now owns 48,407 shares of the basic materials company’s stock worth $4,823,000 after buying an additional 6,546 shares during the last quarter. Yousif Capital Management LLC increased its holdings in shares of Cal-Maine Foods by 7.4% in the 2nd quarter. Yousif Capital Management LLC now owns 16,344 shares of the basic materials company’s stock worth $1,628,000 after buying an additional 1,127 shares during the last quarter. Pzena Investment Management LLC purchased a new stake in shares of Cal-Maine Foods during the 2nd quarter valued at $281,000. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Cal-Maine Foods by 13.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,777 shares of the basic materials company’s stock worth $675,000 after acquiring an additional 824 shares during the last quarter. Institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Price Performance

Shares of CALM stock opened at $91.25 on Tuesday. The business has a 50-day moving average of $103.89 and a 200 day moving average of $100.54. Cal-Maine Foods, Inc. has a 1-year low of $79.55 and a 1-year high of $126.40. The stock has a market capitalization of $4.43 billion, a PE ratio of 3.51 and a beta of 0.22.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data 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). Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The company had revenue of $922.60 million during the quarter, compared to the consensus estimate of $931.62 million. During the same quarter in the previous year, the firm posted $3.06 EPS. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. Analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Cal-Maine Foods Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Wednesday, October 29th will be issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date is Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio is currently 36.22%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CALM shares. 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. Wall Street Zen lowered Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Saturday, August 23rd. The Goldman Sachs Group decreased their price objective 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. Lake Street Capital set a $97.00 target price on Cal-Maine Foods in a research note on Friday, October 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cal-Maine Foods in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $101.75.

Insiders Place Their Bets

In other news, insider Keira L. Lombardo purchased 2,800 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were acquired at an average price of $92.36 per share, with a total value of $258,608.00. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.90% of the stock is owned by 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.