Denali Advisors LLC Purchases New Stake in Cal-Maine Foods, Inc. $CALM

Denali Advisors LLC purchased a new stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,154 shares of the basic materials company’s stock, valued at approximately $3,204,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Archford Capital Strategies LLC raised its holdings in Cal-Maine Foods by 167.2% in the second quarter. Archford Capital Strategies LLC now owns 73,225 shares of the basic materials company’s stock valued at $7,295,000 after acquiring an additional 45,823 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new stake in Cal-Maine Foods during the first quarter valued at $527,000. Bank of New York Mellon Corp raised its holdings in shares of Cal-Maine Foods by 8.7% during the first quarter. Bank of New York Mellon Corp now owns 562,810 shares of the basic materials company’s stock worth $51,159,000 after purchasing an additional 45,201 shares during the period. KBC Group NV raised its holdings in shares of Cal-Maine Foods by 23.2% during the first quarter. KBC Group NV now owns 2,071 shares of the basic materials company’s stock worth $188,000 after purchasing an additional 390 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Cal-Maine Foods by 25.7% during the first quarter. GAMMA Investing LLC now owns 1,720 shares of the basic materials company’s stock worth $156,000 after purchasing an additional 352 shares during the period. 84.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on CALM. BMO Capital Markets dropped their target price on shares of Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating on the stock in a report on Friday, October 3rd. Stephens increased their target price on shares of Cal-Maine Foods from $108.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Cal-Maine Foods in a report on Saturday, September 27th. Lake Street Capital set a $97.00 target price on shares of Cal-Maine Foods in a report on Friday, October 3rd. Finally, Wall Street Zen cut shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Saturday, August 23rd. 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 has a consensus rating of “Hold” and a consensus price target of $101.75.

Cal-Maine Foods Stock Performance

Cal-Maine Foods stock opened at $90.25 on Wednesday. The company has a 50-day simple moving average of $103.54 and a 200-day simple moving average of $100.47. The firm has a market capitalization of $4.38 billion, a P/E ratio of 3.47 and a beta of 0.22. Cal-Maine Foods, Inc. has a one year low of $79.55 and a one year high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Wednesday, October 1st. The basic materials company reported $4.12 EPS for the quarter, missing the consensus estimate of $4.55 by ($0.43). The firm had revenue of $922.60 million for 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 prior year, the company posted $3.06 EPS. As a group, sell-side analysts forecast that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Cal-Maine Foods Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Wednesday, October 29th will be given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date is Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio is currently 36.22%.

Insider Transactions at Cal-Maine Foods

In related news, insider Keira L. Lombardo bought 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was purchased at an average price of $92.36 per share, for a total transaction of $258,608.00. Following the transaction, the insider directly owned 3,738 shares of the company’s stock, valued at approximately $345,241.68. This represents a 298.51% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.