Burney Co. Buys 12,808 Shares of Cal-Maine Foods, Inc. $CALM

Burney Co. lifted its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 13.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 110,036 shares of the basic materials company’s stock after buying an additional 12,808 shares during the period. Burney Co.’s holdings in Cal-Maine Foods were worth $10,354,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Wedge Capital Management L L P NC boosted its holdings in Cal-Maine Foods by 1,085.8% during the third quarter. Wedge Capital Management L L P NC now owns 259,445 shares of the basic materials company’s stock worth $24,414,000 after purchasing an additional 237,566 shares during the last quarter. Archford Capital Strategies LLC lifted its position in shares of Cal-Maine Foods by 167.2% during the 2nd quarter. Archford Capital Strategies LLC now owns 73,225 shares of the basic materials company’s stock worth $7,295,000 after buying an additional 45,823 shares in the last quarter. Strs Ohio purchased a new position in shares of Cal-Maine Foods in the 1st quarter worth approximately $1,154,000. Creative Planning boosted its stake in shares of Cal-Maine Foods by 49.1% in the 2nd quarter. Creative Planning now owns 19,161 shares of the basic materials company’s stock worth $1,909,000 after buying an additional 6,313 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Cal-Maine Foods by 16.1% in the first quarter. Royal Bank of Canada now owns 156,322 shares of the basic materials company’s stock valued at $14,210,000 after acquiring an additional 21,630 shares in the last quarter. Institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Price Performance

Shares of NASDAQ CALM opened at $81.98 on Friday. The stock has a market capitalization of $3.98 billion, a PE ratio of 3.15 and a beta of 0.24. Cal-Maine Foods, Inc. has a one year low of $79.55 and a one year high of $126.40. The business’s fifty day moving average price is $86.74 and its 200-day moving average price is $97.81.

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

Cal-Maine Foods Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors 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 annualized dividend and a yield of 6.7%. Cal-Maine Foods’s dividend payout ratio (DPR) is 21.18%.

Insiders Place Their Bets

In other Cal-Maine Foods news, insider Keira L. Lombardo bought 2,800 shares of the stock in a transaction on Thursday, October 2nd. The shares were acquired at an average price of $92.36 per share, with a total value of $258,608.00. Following the acquisition, the insider directly owned 3,738 shares of the company’s stock, valued at $345,241.68. The trade was a 298.51% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. The Goldman Sachs Group dropped their price target on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, October 3rd. Lake Street Capital set a $97.00 target price on Cal-Maine Foods 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. Benchmark assumed coverage on shares of Cal-Maine Foods in a report on Monday, December 1st. They set a “buy” rating and a $100.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cal-Maine Foods in a research report on Monday. Two equities 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 currently has a consensus rating of “Hold” and an average target price of $101.40.

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. 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.