Cal-Maine Foods, Inc. $CALM Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 8.4% during the second quarter, Holdings Channel.com reports. The fund owned 19,824 shares of the basic materials company’s stock after selling 1,829 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Cal-Maine Foods were worth $1,975,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc grew its position in shares of Cal-Maine Foods by 195.1% during the 2nd quarter. IFP Advisors Inc now owns 239 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 158 shares during the period. Investment Management Corp VA ADV grew its position in shares of Cal-Maine Foods by 172.2% during the 1st quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 248 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Cal-Maine Foods during the 1st quarter valued at about $52,000. AdvisorNet Financial Inc acquired a new stake in shares of Cal-Maine Foods during the 2nd quarter valued at about $54,000. Finally, Quarry LP grew its position in shares of Cal-Maine Foods by 1,470.5% during the 1st quarter. Quarry LP now owns 691 shares of the basic materials company’s stock valued at $63,000 after acquiring an additional 647 shares during the period. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Cal-Maine Foods Stock Performance

CALM stock opened at $86.87 on Friday. The firm has a market cap of $4.21 billion, a PE ratio of 3.34 and a beta of 0.22. The firm’s 50 day moving average price is $100.51 and its 200-day moving average price is $100.27. 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 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 quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.06 EPS. Equities research analysts predict that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th will be given a $1.37 dividend. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $5.48 dividend on an annualized basis and a yield of 6.3%. Cal-Maine Foods’s payout ratio is presently 21.07%.

Insider Transactions at Cal-Maine Foods

In other news, insider Keira L. Lombardo bought 2,800 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were bought at an average price of $92.36 per share, with a total value of $258,608.00. Following the completion of the transaction, the insider directly owned 3,738 shares in the company, valued at $345,241.68. This trade represents a 298.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.90% of the stock is currently owned by insiders.

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.