Cal-Maine Foods, Inc. $CALM Stock Holdings Reduced by Freedom Investment Management Inc.

Freedom Investment Management Inc. lessened its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 16.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,746 shares of the basic materials company’s stock after selling 907 shares during the quarter. Freedom Investment Management Inc.’s holdings in Cal-Maine Foods were worth $473,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. IFP Advisors Inc increased its holdings in shares of Cal-Maine Foods by 195.1% during the 2nd quarter. IFP Advisors Inc now owns 239 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 158 shares during the last quarter. Investment Management Corp VA ADV increased its holdings in shares of Cal-Maine Foods by 172.2% during the 1st quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 248 shares during the last quarter. AdvisorNet Financial Inc acquired a new position in shares of Cal-Maine Foods during the 2nd quarter valued at about $54,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Cal-Maine Foods during the 1st quarter valued at about $52,000. Finally, Quarry LP increased its holdings in shares of Cal-Maine Foods by 1,470.5% during the 1st quarter. Quarry LP now owns 691 shares of the basic materials company’s stock valued at $63,000 after acquiring an additional 647 shares during the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Trading Up 0.7%

Shares of CALM stock opened at $90.01 on Friday. The stock has a 50 day moving average of $102.38 and a two-hundred day moving average of $100.45. Cal-Maine Foods, Inc. has a 12 month low of $79.55 and a 12 month high of $126.40. The company has a market capitalization of $4.37 billion, a P/E ratio of 3.46 and a beta of 0.22.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Wednesday, October 1st. The basic materials company reported $4.12 EPS for the quarter, missing analysts’ consensus estimates of $4.55 by ($0.43). Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The firm had revenue of $922.60 million during the quarter, compared to the consensus estimate of $931.62 million. During the same quarter in the prior year, the business posted $3.06 EPS. Cal-Maine Foods’s revenue was up 17.4% compared to the same quarter last year. Sell-side analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Wednesday, October 29th will be given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio (DPR) is 36.22%.

Insider Activity at Cal-Maine Foods

In related news, insider Keira L. Lombardo bought 2,800 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider directly owned 3,738 shares of the company’s stock, valued at $345,241.68. This represents a 298.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CALM shares. Weiss Ratings reissued a “buy (b)” rating on shares of Cal-Maine Foods in a report on Wednesday. Lake Street Capital set a $97.00 price objective on Cal-Maine Foods in a report on Friday, October 3rd. BMO Capital Markets lowered their target price on 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. Stephens raised their target price on Cal-Maine Foods from $108.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, July 24th. Finally, The Goldman Sachs Group lowered their target price 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. One 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, the company presently has a consensus rating of “Hold” and a consensus target price of $101.75.

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.