6,008 Shares in Cal-Maine Foods, Inc. $CALM Acquired by Stegent Equity Advisors Inc.

Stegent Equity Advisors Inc. bought a new position in Cal-Maine Foods, Inc. (NASDAQ:CALM) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 6,008 shares of the basic materials company’s stock, valued at approximately $599,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CALM. IFP Advisors Inc boosted its holdings 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 worth $25,000 after purchasing an additional 158 shares during the last quarter. Investment Management Corp VA ADV boosted its holdings in 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 bought a new position in Cal-Maine Foods in the first quarter worth approximately $52,000. AdvisorNet Financial Inc bought a new position in Cal-Maine Foods in the second quarter worth approximately $54,000. Finally, Quarry LP raised its position in Cal-Maine Foods by 1,470.5% in the first quarter. Quarry LP now owns 691 shares of the basic materials company’s stock worth $63,000 after acquiring an additional 647 shares during the period. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Price Performance

Shares of CALM stock opened at $90.01 on Friday. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 3.46 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. The company’s fifty day moving average price is $102.38 and its 200-day moving average price is $100.45.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data 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 net margin of 28.86% and a return on equity of 52.31%. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.06 earnings per share. Equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Wednesday, October 29th will be given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 36.22%.

Analyst Ratings Changes

CALM has been the topic of several recent research reports. The Goldman Sachs Group decreased their price target on shares of 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. Stephens increased their price target on shares of Cal-Maine Foods from $108.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cal-Maine Foods in a research report on Wednesday. Wall Street Zen downgraded shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Saturday, August 23rd. Finally, Lake Street Capital set a $97.00 price target on shares of Cal-Maine Foods in a research report on Friday, October 3rd. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $101.75.

Insider Activity at Cal-Maine Foods

In other news, insider Keira L. Lombardo acquired 2,800 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were purchased at an average cost 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 trade represents a 298.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.90% of the stock is owned by insiders.

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.