Hussman Strategic Advisors Inc. Increases Position in Cal-Maine Foods, Inc. $CALM

Hussman Strategic Advisors Inc. increased its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 100.0% in the second quarter, HoldingsChannel reports. The firm owned 42,000 shares of the basic materials company’s stock after buying an additional 21,000 shares during the period. Cal-Maine Foods makes up approximately 1.0% of Hussman Strategic Advisors Inc.’s investment portfolio, making the stock its 18th largest position. Hussman Strategic Advisors Inc.’s holdings in Cal-Maine Foods were worth $4,184,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its stake in 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 purchasing an additional 158 shares during the last quarter. Investment Management Corp VA ADV lifted its position 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 buying an additional 248 shares during the last quarter. AdvisorNet Financial Inc bought a new stake in shares of Cal-Maine Foods in the 2nd quarter valued at about $54,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Cal-Maine Foods in the 1st quarter worth approximately $52,000. Finally, Quarry LP grew its position 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 worth $63,000 after buying an additional 647 shares during the last quarter. Institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Trading Up 0.8%

Shares of Cal-Maine Foods stock opened at $88.46 on Tuesday. Cal-Maine Foods, Inc. has a 12-month low of $79.55 and a 12-month high of $126.40. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 3.40 and a beta of 0.22. The firm’s 50 day simple moving average is $99.40 and its two-hundred day simple moving average is $100.25.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data on Wednesday, October 1st. The basic materials company reported $4.12 EPS for the quarter, missing the consensus estimate of $4.55 by ($0.43). The company had revenue of $922.60 million for 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 company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.06 earnings per share. On average, sell-side analysts predict that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th will be given a dividend of $1.37 per share. 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 6.2%. Cal-Maine Foods’s payout ratio is currently 21.07%.

Insiders Place Their Bets

In other news, insider Keira L. Lombardo purchased 2,800 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were acquired at an average price of $92.36 per share, for a total transaction of $258,608.00. Following the purchase, the insider owned 3,738 shares in the company, valued at $345,241.68. This trade represents a 298.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

CALM has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their target price on shares of Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cal-Maine Foods in a research report on Saturday, September 27th. Wall Street Zen lowered Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Saturday, August 23rd. Lake Street Capital set a $97.00 price objective on Cal-Maine Foods in a research report on Friday, October 3rd. Finally, BMO Capital Markets dropped their target price on Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating on the stock in a research note on Friday, October 3rd. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.