Janney Montgomery Scott LLC Purchases 20,901 Shares of Cal-Maine Foods, Inc. $CALM

Janney Montgomery Scott LLC grew its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 738.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 23,733 shares of the basic materials company’s stock after buying an additional 20,901 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Cal-Maine Foods were worth $2,365,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC grew its stake in Cal-Maine Foods by 2.5% during the first quarter. Evergreen Capital Management LLC now owns 5,898 shares of the basic materials company’s stock worth $536,000 after buying an additional 143 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Cal-Maine Foods by 20.4% during the second quarter. Harbor Capital Advisors Inc. now owns 1,108 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 188 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Cal-Maine Foods by 8.2% during the first quarter. Sequoia Financial Advisors LLC now owns 2,511 shares of the basic materials company’s stock worth $228,000 after purchasing an additional 191 shares in the last quarter. Monument Capital Management lifted its position in shares of Cal-Maine Foods by 6.2% during the first quarter. Monument Capital Management now owns 3,358 shares of the basic materials company’s stock worth $305,000 after purchasing an additional 195 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its position in shares of Cal-Maine Foods by 2.6% during the first quarter. Resona Asset Management Co. Ltd. now owns 7,713 shares of the basic materials company’s stock worth $701,000 after purchasing an additional 195 shares in the last quarter. 84.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Cal-Maine Foods in a research report on Saturday, September 27th. Wall Street Zen lowered shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Saturday, August 23rd. BMO Capital Markets cut 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, October 3rd. Stephens increased their price objective on shares of Cal-Maine Foods from $108.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, July 24th. Finally, Lake Street Capital set a $97.00 price objective on shares of Cal-Maine Foods in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $101.75.

Insiders Place Their Bets

In other Cal-Maine Foods news, insider Keira L. Lombardo bought 2,800 shares of the firm’s 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 completion of the transaction, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.90% of the company’s stock.

Cal-Maine Foods Stock Down 0.6%

Shares of CALM stock opened at $91.55 on Friday. The firm has a fifty day moving average of $105.72 and a 200-day moving average of $100.40. Cal-Maine Foods, Inc. has a 12-month low of $79.55 and a 12-month high of $126.40. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 3.52 and a beta of 0.22.

Cal-Maine Foods (NASDAQ:CALM) last issued 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). Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.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 company earned $3.06 EPS. The firm’s revenue was up 17.4% on a year-over-year basis. On average, equities analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Cal-Maine Foods Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Wednesday, October 29th will be given a $1.37 dividend. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $5.48 dividend on an annualized basis and a yield of 6.0%. Cal-Maine Foods’s dividend payout ratio (DPR) is 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.