Ritholtz Wealth Management Cuts Holdings in Cal-Maine Foods, Inc. $CALM

Ritholtz Wealth Management reduced its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 6.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,933 shares of the basic materials company’s stock after selling 192 shares during the quarter. Ritholtz Wealth Management’s holdings in Cal-Maine Foods were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Truist Financial Corp raised its position in shares of Cal-Maine Foods by 3.5% in the 2nd quarter. Truist Financial Corp now owns 3,541 shares of the basic materials company’s stock worth $353,000 after buying an additional 121 shares during the period. Evergreen Capital Management LLC raised its position in shares of Cal-Maine Foods by 2.5% in the 1st quarter. Evergreen Capital Management LLC now owns 5,898 shares of the basic materials company’s stock worth $536,000 after buying an additional 143 shares during the period. Sequoia Financial Advisors LLC raised its position in 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 valued at $265,000 after purchasing an additional 153 shares during the period. IFP Advisors Inc raised its position in Cal-Maine Foods by 195.1% in the second quarter. IFP Advisors Inc now owns 239 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 158 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Cal-Maine Foods by 6.6% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,872 shares of the basic materials company’s stock valued at $286,000 after purchasing an additional 179 shares during the period. 84.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Stephens raised their price objective 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. Lake Street Capital set a $97.00 price objective on Cal-Maine Foods in a research report on Friday, October 3rd. The Goldman Sachs Group cut their price objective on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, October 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Cal-Maine Foods in a research report on Saturday, September 27th. Finally, Wall Street Zen lowered Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Saturday, August 23rd. 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 company presently has a consensus rating of “Hold” and an average price target of $101.75.

Insider Buying and Selling

In other news, insider Keira L. Lombardo purchased 2,800 shares of the firm’s stock in a transaction that occurred on 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 purchase, the insider owned 3,738 shares of the company’s stock, valued at approximately $345,241.68. This trade represents a 298.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.90% of the company’s stock.

Cal-Maine Foods Price Performance

Shares of Cal-Maine Foods 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. The company has a market capitalization of $4.43 billion, a PE ratio of 3.51 and a beta of 0.22. Cal-Maine Foods, Inc. has a 1-year low of $79.55 and a 1-year high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last announced its 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 business had revenue of $922.60 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.06 earnings per share. On average, equities 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 company also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Wednesday, October 29th will be paid a $1.37 dividend. 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 (DPR) is 36.22%.

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.