Vest Financial LLC Has $4.82 Million Stake in Cal-Maine Foods, Inc. $CALM

Vest Financial LLC grew its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 15.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,407 shares of the basic materials company’s stock after acquiring an additional 6,546 shares during the quarter. Vest Financial LLC owned 0.10% of Cal-Maine Foods worth $4,823,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc raised its stake in Cal-Maine Foods by 195.1% during the second quarter. IFP Advisors Inc now owns 239 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 158 shares in the last quarter. Investment Management Corp VA ADV raised its stake in Cal-Maine Foods by 172.2% during the first quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 248 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Cal-Maine Foods in the first quarter valued at approximately $52,000. AdvisorNet Financial Inc acquired a new position in shares of Cal-Maine Foods in the second quarter valued at approximately $54,000. Finally, Blue Trust Inc. increased its stake in shares of Cal-Maine Foods by 388.2% in the first quarter. Blue Trust Inc. now owns 620 shares of the basic materials company’s stock valued at $56,000 after buying an additional 493 shares during the period. Institutional investors and hedge funds own 84.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CALM. Lake Street Capital set a $97.00 price objective on Cal-Maine Foods in a research note on Friday, October 3rd. Wall Street Zen downgraded Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Saturday, August 23rd. Stephens upped their price objective on Cal-Maine Foods from $108.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cal-Maine Foods in a research note on Saturday, September 27th. Finally, The Goldman Sachs Group lowered their price objective on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, October 3rd. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $101.75.

Insider Activity

In other Cal-Maine Foods news, insider Keira L. Lombardo purchased 2,800 shares of the business’s stock in a transaction on 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 acquisition, the insider owned 3,738 shares of the company’s stock, valued at approximately $345,241.68. This represents a 298.51% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.90% of the company’s stock.

Cal-Maine Foods Price Performance

Shares of CALM stock opened at $92.03 on Tuesday. The business’s 50 day simple moving average is $105.22 and its 200 day simple moving average is $100.52. Cal-Maine Foods, Inc. has a one year low of $79.55 and a one year high of $126.40. The stock has a market capitalization of $4.46 billion, a PE ratio of 3.54 and a beta of 0.22.

Cal-Maine Foods (NASDAQ:CALM) last announced its 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 during the quarter, compared to the consensus estimate of $931.62 million. During the same quarter in the previous year, the company earned $3.06 earnings per share. The business’s revenue was up 17.4% on a year-over-year basis. As a group, research analysts expect 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 issued a $1.37 dividend. The ex-dividend date is Wednesday, October 29th. This represents a $5.48 annualized dividend and a yield of 6.0%. Cal-Maine Foods’s dividend payout ratio is presently 36.22%.

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.