Cal-Maine Foods, Inc. $CALM Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. decreased its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 16.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,746 shares of the basic materials company’s stock after selling 907 shares during the quarter. Freedom Investment Management Inc.’s holdings in Cal-Maine Foods were worth $473,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. IFP Advisors Inc lifted its holdings in shares of Cal-Maine Foods by 195.1% in the second quarter. IFP Advisors Inc now owns 239 shares of the basic materials company’s stock valued at $25,000 after buying an additional 158 shares during the period. Investment Management Corp VA ADV lifted its holdings in shares of 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 valued at $36,000 after purchasing an additional 248 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Cal-Maine Foods during the first quarter valued at $52,000. AdvisorNet Financial Inc purchased a new stake in shares of Cal-Maine Foods during the second quarter valued at $54,000. Finally, Quarry LP lifted its holdings in shares of Cal-Maine Foods by 1,470.5% during the first quarter. Quarry LP now owns 691 shares of the basic materials company’s stock valued at $63,000 after purchasing an additional 647 shares during the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Trading Up 0.7%

NASDAQ:CALM opened at $90.01 on Friday. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 3.46 and a beta of 0.22. Cal-Maine Foods, Inc. has a 1-year low of $79.55 and a 1-year high of $126.40. The business’s fifty day moving average price is $102.38 and its 200 day moving average price is $100.45.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share 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 business had revenue of $922.60 million for the quarter, compared to analyst estimates of $931.62 million. During the same period in the previous year, the firm posted $3.06 earnings per share. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. Equities analysts forecast that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Cal-Maine Foods Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th will be paid a $1.37 dividend. The ex-dividend date is Wednesday, October 29th. This represents a $5.48 dividend on an annualized basis and a yield of 6.1%. Cal-Maine Foods’s payout ratio is 36.22%.

Insider Buying and Selling

In other news, insider Keira L. Lombardo bought 2,800 shares of the stock in a transaction on Thursday, October 2nd. The shares were purchased at an average price of $92.36 per share, for a total transaction of $258,608.00. Following the completion of the purchase, the insider directly owned 3,738 shares of the company’s stock, valued at $345,241.68. This trade represents a 298.51% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CALM shares. 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. Wall Street Zen downgraded Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Saturday, August 23rd. BMO Capital Markets reduced their target price on Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating for the company in a report on Friday, October 3rd. Lake Street Capital set a $97.00 target price on Cal-Maine Foods in a report on Friday, October 3rd. Finally, Stephens upped their target price on Cal-Maine Foods from $108.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $101.75.

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.