Intech Investment Management LLC Sells 11,829 Shares of Cal-Maine Foods, Inc. $CALM

Intech Investment Management LLC decreased its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 8.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 135,387 shares of the basic materials company’s stock after selling 11,829 shares during the period. Intech Investment Management LLC owned about 0.28% of Cal-Maine Foods worth $13,489,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. IFP Advisors Inc increased its position in shares of Cal-Maine Foods by 195.1% during the second quarter. IFP Advisors Inc now owns 239 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 158 shares during the period. Investment Management Corp VA ADV boosted 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 buying an additional 248 shares in the last quarter. AdvisorNet Financial Inc acquired a new stake in Cal-Maine Foods during the second quarter worth $54,000. Caitong International Asset Management Co. Ltd bought a new stake in Cal-Maine Foods in the 1st quarter valued at $52,000. Finally, Quarry LP raised its stake in shares of Cal-Maine Foods by 1,470.5% in the 1st quarter. Quarry LP now owns 691 shares of the basic materials company’s stock valued at $63,000 after buying an additional 647 shares in the last quarter. Institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Trading Down 1.2%

NASDAQ CALM opened at $90.47 on Friday. Cal-Maine Foods, Inc. has a 1-year low of $79.55 and a 1-year high of $126.40. The company has a 50 day moving average of $94.88 and a 200-day moving average of $99.95. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 3.48 and a beta of 0.21.

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 analysts’ consensus estimates of $4.55 by ($0.43). Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The business had revenue of $922.60 million for the quarter, compared to the consensus estimate of $931.62 million. During the same quarter last year, the company earned $3.06 earnings per share. The firm’s revenue was up 17.4% on a year-over-year basis. On average, analysts forecast that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Cal-Maine Foods Cuts Dividend

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

Analysts Set New Price Targets

CALM has been the topic of several recent research reports. Stephens lifted their target price on shares of 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. BMO Capital Markets cut their price target on shares of Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating for the company 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 report on Saturday, August 23rd. The Goldman Sachs Group dropped 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. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Cal-Maine Foods in a research report on Tuesday. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cal-Maine Foods 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 purchased 2,800 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was acquired at an average cost of $92.36 per share, with a total value of $258,608.00. Following the completion of the acquisition, the insider directly owned 3,738 shares of the company’s stock, valued at $345,241.68. This represents a 298.51% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.90% of the stock is owned by corporate 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.