Edgestream Partners L.P. Sells 50,432 Shares of Cal-Maine Foods, Inc. $CALM

Edgestream Partners L.P. trimmed its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 73.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 18,489 shares of the basic materials company’s stock after selling 50,432 shares during the period. Edgestream Partners L.P.’s holdings in Cal-Maine Foods were worth $1,842,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Everstar Asset Management LLC raised its stake in shares of Cal-Maine Foods by 14.3% during the 2nd quarter. Everstar Asset Management LLC now owns 8,567 shares of the basic materials company’s stock worth $854,000 after acquiring an additional 1,073 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Cal-Maine Foods by 82.4% in the second quarter. New York State Common Retirement Fund now owns 23,246 shares of the basic materials company’s stock worth $2,316,000 after purchasing an additional 10,500 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in Cal-Maine Foods in the second quarter worth $1,904,000. Norges Bank acquired a new position in shares of Cal-Maine Foods during the second quarter worth $8,829,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of Cal-Maine Foods during the 2nd quarter valued at $578,000. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on CALM shares. The Goldman Sachs Group decreased their price objective 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. Wall Street Zen lowered shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Saturday, August 23rd. Benchmark started coverage on shares of Cal-Maine Foods in a research note on Monday. They set a “buy” rating and a $100.00 price objective for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cal-Maine Foods in a research note on Monday. Finally, BMO Capital Markets reduced their target price on shares of Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating for the company in a report on Friday, October 3rd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $101.40.

Insider Activity

In other news, insider Keira L. Lombardo bought 2,800 shares of the stock in a transaction dated Thursday, October 2nd. The shares were acquired at an average cost of $92.36 per share, with a total value of $258,608.00. Following the purchase, the insider directly owned 3,738 shares in the company, valued at $345,241.68. The trade was a 298.51% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.90% of the stock is currently owned by insiders.

Cal-Maine Foods Trading Down 0.6%

Cal-Maine Foods stock opened at $84.71 on Friday. The firm has a market cap of $4.11 billion, a PE ratio of 3.26 and a beta of 0.24. Cal-Maine Foods, Inc. has a 12 month low of $79.55 and a 12 month high of $126.40. The stock’s 50 day simple moving average is $89.10 and its two-hundred day simple moving average is $98.91.

Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share (EPS) 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 quarter in the prior year, the firm earned $3.06 earnings per share. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, equities research analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Cal-Maine Foods Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th were given a $1.37 dividend. The ex-dividend date was Wednesday, October 29th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 6.5%. Cal-Maine Foods’s dividend payout ratio is 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.