Nebula Research & Development LLC Trims Stock Position in Cal-Maine Foods, Inc. $CALM

Nebula Research & Development LLC decreased its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 40.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,513 shares of the basic materials company’s stock after selling 19,517 shares during the quarter. Nebula Research & Development LLC owned approximately 0.06% of Cal-Maine Foods worth $2,841,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. IFP Advisors Inc grew its stake in shares of Cal-Maine Foods by 195.1% during the 2nd 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. Caitong International Asset Management Co. Ltd purchased a new stake in Cal-Maine Foods during the first quarter valued at about $52,000. AdvisorNet Financial Inc acquired a new stake in Cal-Maine Foods during the second quarter worth about $54,000. Quarry LP lifted its stake 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 valued at $63,000 after purchasing an additional 647 shares in the last quarter. Finally, Reyes Financial Architecture Inc. acquired a new stake in Cal-Maine Foods during the 2nd quarter worth approximately $82,000. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cal-Maine Foods

In other news, insider Keira L. Lombardo purchased 2,800 shares of the stock in a transaction dated Thursday, October 2nd. The stock was acquired at an average cost of $92.36 per share, for a total transaction of $258,608.00. Following the acquisition, the insider owned 3,738 shares of the company’s stock, valued at $345,241.68. The trade was a 298.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

CALM has been the subject of several research reports. Benchmark started coverage on shares of Cal-Maine Foods in a research note on Monday, December 1st. They set a “buy” rating and a $100.00 price objective for the company. Lake Street Capital set a $97.00 target price on shares of Cal-Maine Foods 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. The Goldman Sachs Group decreased their target price on 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. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Cal-Maine Foods in a report on Monday. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Cal-Maine Foods currently has an average rating of “Hold” and a consensus price target of $101.40.

Cal-Maine Foods Stock Down 0.4%

Shares of CALM opened at $85.96 on Thursday. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 3.30 and a beta of 0.24. The business’s 50 day moving average is $88.58 and its two-hundred day moving average is $98.73. Cal-Maine Foods, Inc. has a 52-week low of $79.55 and a 52-week high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $931.62 million. During the same quarter last year, the firm posted $3.06 EPS. The firm’s quarterly 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 earnings per share for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th were issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend was Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 21.18%.

Cal-Maine Foods 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.