Profund Advisors LLC Acquires New Position in Cal-Maine Foods, Inc. $CALM

Profund Advisors LLC bought a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,196 shares of the basic materials company’s stock, valued at approximately $219,000.

A number of other hedge funds also recently added to or reduced their stakes in CALM. Campbell & CO Investment Adviser LLC boosted its stake in shares of Cal-Maine Foods by 54.2% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 16,073 shares of the basic materials company’s stock worth $1,601,000 after acquiring an additional 5,647 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Cal-Maine Foods in the 2nd quarter valued at approximately $1,275,000. Aviva PLC raised its holdings in Cal-Maine Foods by 29.1% during the second quarter. Aviva PLC now owns 8,806 shares of the basic materials company’s stock worth $877,000 after purchasing an additional 1,987 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in Cal-Maine Foods by 10.7% during the second quarter. Los Angeles Capital Management LLC now owns 35,346 shares of the basic materials company’s stock worth $3,522,000 after purchasing an additional 3,425 shares in the last quarter. Finally, Savant Capital LLC boosted its position in Cal-Maine Foods by 11.0% during the second quarter. Savant Capital LLC now owns 4,982 shares of the basic materials company’s stock worth $496,000 after purchasing an additional 495 shares in the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

Cal-Maine Foods Price Performance

Shares of NASDAQ CALM opened at $90.47 on Friday. The company has a 50-day simple moving average of $94.88 and a 200-day simple moving average of $99.95. The company has a market cap of $4.39 billion, a PE ratio of 3.48 and a beta of 0.21. Cal-Maine Foods, Inc. has a 12 month low of $79.55 and a 12 month 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 (EPS) for the quarter, missing analysts’ consensus estimates of $4.55 by ($0.43). The firm had revenue of $922.60 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business posted $3.06 EPS. On average, analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Cal-Maine Foods Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Wednesday, October 29th were issued a dividend of $1.37 per share. The ex-dividend date was Wednesday, October 29th. This represents a $5.48 annualized dividend and a dividend yield of 6.1%. Cal-Maine Foods’s dividend payout ratio (DPR) is 21.18%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CALM. Stephens raised their price target 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 shares of Cal-Maine Foods in a research note on Friday, October 3rd. The Goldman Sachs Group cut their target price on shares of Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, October 3rd. BMO Capital Markets reduced their price target 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. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Cal-Maine Foods in a research note on Tuesday. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $101.75.

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods news, insider Keira L. Lombardo bought 2,800 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was purchased 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 $345,241.68. This trade represents a 298.51% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.90% of the stock is currently owned by corporate 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.