Inspire Advisors LLC Buys Shares of 5,227 Cal-Maine Foods, Inc. $CALM

Inspire Advisors LLC acquired a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,227 shares of the basic materials company’s stock, valued at approximately $521,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of Cal-Maine Foods in the first quarter worth $35,322,000. Jupiter Asset Management Ltd. grew its stake in shares of Cal-Maine Foods by 336.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 487,214 shares of the basic materials company’s stock worth $44,288,000 after purchasing an additional 375,604 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Cal-Maine Foods by 315.2% in the first quarter. Empowered Funds LLC now owns 251,228 shares of the basic materials company’s stock valued at $22,837,000 after buying an additional 190,715 shares in the last quarter. American Century Companies Inc. raised its position in shares of Cal-Maine Foods by 13.4% during the first quarter. American Century Companies Inc. now owns 1,436,943 shares of the basic materials company’s stock worth $130,618,000 after purchasing an additional 170,322 shares during the period. Finally, Northern Trust Corp raised its holdings in Cal-Maine Foods by 23.5% during the 1st quarter. Northern Trust Corp now owns 833,054 shares of the basic materials company’s stock worth $75,725,000 after buying an additional 158,719 shares during the period. Institutional investors own 84.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. The Goldman Sachs Group reduced their price target 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 target price on Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating for the company in a report on Friday, October 3rd. Lake Street Capital set a $97.00 target price on Cal-Maine Foods 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 Monday. Finally, Wall Street Zen downgraded Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Saturday, August 23rd. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $101.75.

Insider Activity

In other Cal-Maine Foods news, insider Keira L. Lombardo acquired 2,800 shares of Cal-Maine Foods stock in a transaction that occurred on Thursday, October 2nd. The stock was acquired at an average price of $92.36 per share, with a total value of $258,608.00. Following the purchase, the insider owned 3,738 shares in the company, valued at approximately $345,241.68. This trade represents a 298.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.90% of the company’s stock.

Cal-Maine Foods Stock Down 0.3%

CALM stock opened at $87.66 on Thursday. The company has a 50 day moving average of $93.55 and a two-hundred day moving average of $99.85. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 3.37 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 posted 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). Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The company had revenue of $922.60 million for the quarter, compared to analysts’ expectations of $931.62 million. During the same quarter in the prior year, the firm earned $3.06 earnings per share. The company’s revenue was up 17.4% on a year-over-year basis. On average, research 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. Investors of record on Wednesday, October 29th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend was Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 21.18%.

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.