Cal-Maine Foods, Inc. $CALM Position Reduced by 111 Capital

111 Capital lessened its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 13.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,959 shares of the basic materials company’s stock after selling 469 shares during the period. 111 Capital’s holdings in Cal-Maine Foods were worth $295,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Cal-Maine Foods by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 4,945,681 shares of the basic materials company’s stock worth $449,562,000 after acquiring an additional 40,075 shares during the period. American Century Companies Inc. increased its holdings in shares of Cal-Maine Foods by 13.4% in the 1st quarter. American Century Companies Inc. now owns 1,436,943 shares of the basic materials company’s stock worth $130,618,000 after acquiring an additional 170,322 shares during the period. Northern Trust Corp increased its holdings in shares of Cal-Maine Foods by 23.5% in the 1st quarter. Northern Trust Corp now owns 833,054 shares of the basic materials company’s stock worth $75,725,000 after acquiring an additional 158,719 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Cal-Maine Foods by 3.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 664,304 shares of the basic materials company’s stock worth $60,385,000 after acquiring an additional 20,174 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Cal-Maine Foods by 8.7% in the 1st quarter. Bank of New York Mellon Corp now owns 562,810 shares of the basic materials company’s stock worth $51,159,000 after acquiring an additional 45,201 shares during the period. Institutional investors and hedge funds own 84.67% of the company’s stock.

Insider Activity

In other Cal-Maine Foods news, insider Keira L. Lombardo acquired 2,800 shares of the stock in a transaction dated Thursday, October 2nd. The shares were bought at an average price of $92.36 per share, with a total value of $258,608.00. Following the purchase, the insider directly owned 3,738 shares of the company’s stock, valued at approximately $345,241.68. This trade 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 link. 3.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. BMO Capital Markets dropped their price objective 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. The Goldman Sachs Group lowered their target price on shares of Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday. Weiss Ratings reissued a “buy (b)” rating on shares of Cal-Maine Foods in a research note on Saturday, September 27th. Stephens raised 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 note on Thursday, July 24th. Finally, Lake Street Capital set a $97.00 target price on shares of Cal-Maine Foods in a research note on Friday. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $101.75.

Cal-Maine Foods Price Performance

Shares of CALM opened at $92.77 on Tuesday. The firm’s 50 day moving average is $106.80 and its 200-day moving average is $100.52. The stock has a market capitalization of $4.55 billion, a P/E ratio of 3.57 and a beta of 0.22. 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 quarterly earnings data 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). The business had revenue of $922.60 million during 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 business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.06 EPS. As a group, equities research analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Wednesday, October 29th will be paid a $1.37 dividend. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $5.48 annualized dividend and a dividend yield of 5.9%. Cal-Maine Foods’s payout ratio is currently 36.22%.

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.