Exchange Traded Concepts LLC Cuts Stock Position in Cal-Maine Foods, Inc. $CALM

Exchange Traded Concepts LLC decreased its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 19.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 29,380 shares of the basic materials company’s stock after selling 6,876 shares during the period. Exchange Traded Concepts LLC’s holdings in Cal-Maine Foods were worth $2,765,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CALM. J.W. Cole Advisors Inc. raised its position in Cal-Maine Foods by 3.2% in the second quarter. J.W. Cole Advisors Inc. now owns 3,280 shares of the basic materials company’s stock valued at $327,000 after purchasing an additional 102 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Cal-Maine Foods by 12.8% in the second quarter. Smartleaf Asset Management LLC now owns 1,022 shares of the basic materials company’s stock valued at $101,000 after buying an additional 116 shares in the last quarter. Truist Financial Corp raised 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 buying an additional 121 shares during the period. GAMMA Investing LLC raised its holdings in shares of Cal-Maine Foods by 4.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,019 shares of the basic materials company’s stock valued at $284,000 after buying an additional 142 shares during the period. Finally, Evergreen Capital Management LLC lifted its position 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 acquiring an additional 143 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CALM has been the subject of several recent research reports. 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 decreased 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 research note on Friday, October 3rd. The Goldman Sachs Group dropped their price target on shares of Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, October 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cal-Maine Foods in a report on Monday. Finally, Benchmark initiated coverage on Cal-Maine Foods in a research note on Monday, December 1st. They set a “buy” rating and a $100.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $101.40.

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.

Cal-Maine Foods Price Performance

Shares of CALM stock opened at $82.84 on Friday. The firm has a fifty day moving average of $86.99 and a two-hundred day moving average of $97.92. The firm has a market cap of $4.02 billion, a P/E ratio of 3.18 and a beta of 0.24. Cal-Maine Foods, Inc. has a 1-year low of $79.55 and a 1-year 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 EPS for the quarter, missing the consensus estimate of $4.55 by ($0.43). The company had revenue of $922.60 million for the quarter, compared to the consensus estimate of $931.62 million. Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.06 EPS. On average, sell-side analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Cal-Maine Foods Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders 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 annualized dividend and a dividend yield of 6.6%. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.