Yousif Capital Management LLC Grows Position in Cal-Maine Foods, Inc. $CALM

Yousif Capital Management LLC raised its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 7.4% in the second quarter, Holdings Channel reports. The institutional investor owned 16,344 shares of the basic materials company’s stock after buying an additional 1,127 shares during the quarter. Yousif Capital Management LLC’s holdings in Cal-Maine Foods were worth $1,628,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Cal-Maine Foods by 0.8% during the first quarter. Vanguard Group Inc. now owns 4,945,681 shares of the basic materials company’s stock valued at $449,562,000 after buying an additional 40,075 shares during the last quarter. American Century Companies Inc. raised its stake in 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 valued at $130,618,000 after buying an additional 170,322 shares during the last quarter. Northern Trust Corp raised its stake in Cal-Maine Foods by 23.5% during the first quarter. Northern Trust Corp now owns 833,054 shares of the basic materials company’s stock valued at $75,725,000 after buying an additional 158,719 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Cal-Maine Foods by 3.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 664,304 shares of the basic materials company’s stock valued at $60,385,000 after buying an additional 20,174 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Cal-Maine Foods by 8.7% during the first quarter. Bank of New York Mellon Corp now owns 562,810 shares of the basic materials company’s stock valued at $51,159,000 after buying an additional 45,201 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Cal-Maine Foods

In other news, insider Keira L. Lombardo bought 2,800 shares of Cal-Maine Foods stock in a transaction that occurred on Thursday, October 2nd. The stock was bought at an average cost of $92.36 per share, with a total value of $258,608.00. Following the acquisition, the insider owned 3,738 shares of the company’s stock, valued at $345,241.68. The trade was a 298.51% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.90% of the company’s stock.

Cal-Maine Foods Price Performance

Shares of CALM opened at $94.56 on Monday. Cal-Maine Foods, Inc. has a one year low of $79.55 and a one year high of $126.40. The firm has a market capitalization of $4.59 billion, a P/E ratio of 3.64 and a beta of 0.22. The business has a fifty day moving average of $104.21 and a 200 day moving average of $100.55.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share (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 the consensus estimate of $931.62 million. During the same period in the prior year, the firm posted $3.06 EPS. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. Analysts expect 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. Investors of record on Wednesday, October 29th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio is currently 36.22%.

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.