Rhumbline Advisers Has $12.93 Million Holdings in Cal-Maine Foods, Inc. $CALM

Rhumbline Advisers raised its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 8.6% in the second quarter, Holdings Channel reports. The fund owned 129,784 shares of the basic materials company’s stock after acquiring an additional 10,303 shares during the period. Rhumbline Advisers’ holdings in Cal-Maine Foods were worth $12,930,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Truist Financial Corp lifted its holdings in shares of Cal-Maine Foods by 3.5% during the 2nd quarter. Truist Financial Corp now owns 3,541 shares of the basic materials company’s stock valued at $353,000 after purchasing an additional 121 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in Cal-Maine Foods by 2.5% during the 1st quarter. Evergreen Capital Management LLC now owns 5,898 shares of the basic materials company’s stock worth $536,000 after buying an additional 143 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Cal-Maine Foods by 6.1% in the second quarter. Sequoia Financial Advisors LLC now owns 2,664 shares of the basic materials company’s stock valued at $265,000 after buying an additional 153 shares in the last quarter. Unison Advisors LLC boosted its holdings in shares of Cal-Maine Foods by 1.6% in the second quarter. Unison Advisors LLC now owns 9,941 shares of the basic materials company’s stock valued at $990,000 after buying an additional 155 shares during the period. Finally, IFP Advisors Inc boosted 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. 84.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Lake Street Capital set a $97.00 price objective on shares of Cal-Maine Foods in a research report on Friday, October 3rd. BMO Capital Markets dropped 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cal-Maine Foods in a research report on Monday, November 24th. The Goldman Sachs Group decreased their price objective 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. Finally, Wall Street Zen cut Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Saturday, August 23rd. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $101.75.

Insider Activity at Cal-Maine Foods

In related news, insider Keira L. Lombardo acquired 2,800 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was bought at an average price of $92.36 per share, with a total value of $258,608.00. Following the acquisition, the insider owned 3,738 shares in the company, valued at $345,241.68. This represents a 298.51% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.90% of the company’s stock.

Cal-Maine Foods Price Performance

Shares of NASDAQ:CALM opened at $83.33 on Monday. The company’s 50-day moving average price is $90.53 and its two-hundred day moving average price is $99.43. Cal-Maine Foods, Inc. has a one year low of $79.55 and a one year high of $126.40. The stock has a market capitalization of $4.04 billion, a PE ratio of 3.20 and a beta of 0.21.

Cal-Maine Foods (NASDAQ:CALM) last released its 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 net margin of 28.86% and a return on equity of 52.31%. The company had revenue of $922.60 million during the quarter, compared to analyst estimates of $931.62 million. During the same period in the prior year, the firm posted $3.06 EPS. Cal-Maine Foods’s revenue was up 17.4% compared to the same quarter last year. On average, 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders 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 dividend on an annualized basis and a dividend yield of 6.6%. Cal-Maine Foods’s dividend payout ratio is currently 21.18%.

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.