Cal-Maine Foods, Inc. $CALM Shares Sold by Garner Asset Management Corp

Garner Asset Management Corp decreased its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 12.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 15,506 shares of the basic materials company’s stock after selling 2,194 shares during the period. Garner Asset Management Corp’s holdings in Cal-Maine Foods were worth $1,545,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in shares of Cal-Maine Foods during the first quarter valued at about $35,322,000. Jupiter Asset Management Ltd. lifted its stake in shares of Cal-Maine Foods by 336.5% in the first quarter. Jupiter Asset Management Ltd. now owns 487,214 shares of the basic materials company’s stock worth $44,288,000 after acquiring an additional 375,604 shares in the last quarter. Empowered Funds LLC boosted its holdings in Cal-Maine Foods by 315.2% in the first quarter. Empowered Funds LLC now owns 251,228 shares of the basic materials company’s stock valued at $22,837,000 after purchasing an additional 190,715 shares during the last quarter. American Century Companies Inc. grew its stake in Cal-Maine Foods by 13.4% during the 1st quarter. American Century Companies Inc. now owns 1,436,943 shares of the basic materials company’s stock valued at $130,618,000 after purchasing an additional 170,322 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Cal-Maine Foods by 23.5% during the 1st quarter. Northern Trust Corp now owns 833,054 shares of the basic materials company’s stock worth $75,725,000 after purchasing an additional 158,719 shares during the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Analysts Set New Price Targets

Several equities 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 research note on Friday, October 3rd. BMO Capital Markets cut their price target 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. Lake Street Capital set a $97.00 price objective on shares of Cal-Maine Foods in a report on Friday, October 3rd. Wall Street Zen downgraded shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Saturday, August 23rd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cal-Maine Foods in a research report on Monday. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $101.75.

Insider Buying and Selling

In related news, insider Keira L. Lombardo bought 2,800 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was bought at an average cost 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 in the company, valued at approximately $345,241.68. The trade was a 298.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.90% of the stock is currently owned by insiders.

Cal-Maine Foods Price Performance

Cal-Maine Foods stock opened at $82.99 on Thursday. Cal-Maine Foods, Inc. has a 12 month low of $79.55 and a 12 month high of $126.40. The company has a fifty day moving average price of $91.30 and a two-hundred day moving average price of $99.54. The company has a market cap of $4.03 billion, a PE ratio of 3.19 and a beta of 0.21.

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 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 business had revenue of $922.60 million for the quarter, compared to analyst estimates of $931.62 million. During the same period last year, the company posted $3.06 earnings per share. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. Equities research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Cal-Maine Foods Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th were issued a $1.37 dividend. The ex-dividend date of this dividend was Wednesday, October 29th. This represents a $5.48 dividend on an annualized basis and a yield of 6.6%. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 21.18%.

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.