Cal-Maine Foods, Inc. $CALM Shares Acquired by Coppell Advisory Solutions LLC

Coppell Advisory Solutions LLC boosted its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 61.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,487 shares of the basic materials company’s stock after purchasing an additional 5,908 shares during the period. Coppell Advisory Solutions LLC’s holdings in Cal-Maine Foods were worth $1,536,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in Cal-Maine Foods by 195.1% in 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 last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Cal-Maine Foods in the first quarter worth about $52,000. AdvisorNet Financial Inc acquired a new position in shares of Cal-Maine Foods in the second quarter worth about $54,000. Quarry LP boosted its holdings in Cal-Maine Foods by 1,470.5% in the first quarter. Quarry LP now owns 691 shares of the basic materials company’s stock valued at $63,000 after purchasing an additional 647 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Cal-Maine Foods by 80.9% during the 2nd quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company’s stock valued at $67,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Price Performance

CALM stock opened at $86.89 on Friday. Cal-Maine Foods, Inc. has a 1-year low of $79.55 and a 1-year high of $126.40. The firm has a fifty day moving average price of $88.37 and a two-hundred day moving average price of $98.61. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 3.34 and a beta of 0.24.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly 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). The company had revenue of $922.60 million for the quarter, compared to analyst estimates of $931.62 million. Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.During the same quarter in the previous year, the company posted $3.06 earnings per share. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. 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. BMO Capital Markets dropped their price target on shares of Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating for the company in a research note on Friday, October 3rd. Benchmark assumed coverage on shares of Cal-Maine Foods in a report on Monday, December 1st. They issued a “buy” rating and a $100.00 price target on the stock. Lake Street Capital set a $97.00 price objective on shares of Cal-Maine Foods in a research note on Friday, October 3rd. Finally, Wall Street Zen lowered shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Saturday, August 23rd. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Cal-Maine Foods has a consensus rating of “Hold” and a consensus price target of $101.40.

Insider Activity

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 price of $92.36 per share, for a total transaction of $258,608.00. Following the completion of the transaction, the insider owned 3,738 shares of the company’s stock, valued at approximately $345,241.68. The trade was a 298.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.90% of the company’s stock.

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.