Cal-Maine Foods, Inc. $CALM Shares Purchased by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 16.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 10,319 shares of the basic materials company’s stock after purchasing an additional 1,426 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Cal-Maine Foods were worth $1,028,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Cal-Maine Foods in the first quarter worth approximately $3,116,000. Royce & Associates LP raised its position in Cal-Maine Foods by 65.4% in the first quarter. Royce & Associates LP now owns 14,880 shares of the basic materials company’s stock valued at $1,353,000 after purchasing an additional 5,882 shares during the period. Avantax Advisory Services Inc. lifted its stake in shares of Cal-Maine Foods by 7.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 7,238 shares of the basic materials company’s stock valued at $658,000 after purchasing an additional 490 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Cal-Maine Foods by 23.8% during the 1st quarter. Cetera Investment Advisers now owns 20,440 shares of the basic materials company’s stock worth $1,858,000 after purchasing an additional 3,931 shares during the period. Finally, Navellier & Associates Inc. increased its position in shares of Cal-Maine Foods by 31.9% during the 1st quarter. Navellier & Associates Inc. now owns 24,834 shares of the basic materials company’s stock worth $2,305,000 after purchasing an additional 6,002 shares during the last quarter. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Cal-Maine Foods Price Performance

Shares of NASDAQ CALM opened at $86.37 on Friday. The company has a market cap of $4.19 billion, a price-to-earnings ratio of 3.32 and a beta of 0.21. The stock’s 50-day moving average is $92.56 and its two-hundred day moving average is $99.70. Cal-Maine Foods, Inc. has a 1-year low of $79.55 and a 1-year high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last issued its 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 firm had revenue of $922.60 million during the quarter, compared to analyst estimates of $931.62 million. During the same period last year, the business earned $3.06 EPS. The firm’s revenue was up 17.4% compared to the same quarter last year. Equities research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Wednesday, October 29th were paid a dividend of $1.37 per share. The ex-dividend date was Wednesday, October 29th. This represents a $5.48 annualized dividend and a yield of 6.3%. Cal-Maine Foods’s payout ratio is presently 21.18%.

Wall Street Analysts Forecast Growth

CALM has been the subject of several research analyst reports. Lake Street Capital set a $97.00 target price on shares of Cal-Maine Foods in a research note on Friday, October 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Cal-Maine Foods in a report on Monday. Wall Street Zen cut shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Saturday, August 23rd. The Goldman Sachs Group cut their target price on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, October 3rd. Finally, BMO Capital Markets decreased their price target 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 issued a Hold rating to the company. Based on data from MarketBeat, Cal-Maine Foods currently has a consensus rating of “Hold” and an average target price of $101.75.

Insiders Place Their Bets

In other Cal-Maine Foods news, insider Keira L. Lombardo purchased 2,800 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was purchased 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 trade represents a 298.51% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.90% of the stock is currently owned by insiders.

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.