Cal-Maine Foods, Inc. $CALM Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 433,100 shares of the basic materials company’s stock after selling 13,935 shares during the quarter. Pacer Advisors Inc. owned 0.89% of Cal-Maine Foods worth $40,755,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Cal-Maine Foods by 6.8% during the second quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock worth $171,038,000 after acquiring an additional 108,578 shares during the period. American Century Companies Inc. grew its stake in shares of Cal-Maine Foods by 8.8% during the 2nd quarter. American Century Companies Inc. now owns 1,563,734 shares of the basic materials company’s stock worth $155,795,000 after purchasing an additional 126,791 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cal-Maine Foods by 7.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,095,246 shares of the basic materials company’s stock valued at $109,132,000 after purchasing an additional 76,102 shares in the last quarter. Squarepoint Ops LLC lifted its stake in shares of Cal-Maine Foods by 60.1% in the second quarter. Squarepoint Ops LLC now owns 934,037 shares of the basic materials company’s stock valued at $93,058,000 after purchasing an additional 350,771 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Cal-Maine Foods by 6.6% during the second quarter. Bank of America Corp DE now owns 705,671 shares of the basic materials company’s stock worth $70,306,000 after buying an additional 43,414 shares in the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Cal-Maine Foods in a research report on Monday. The Goldman Sachs Group dropped their price objective on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, October 3rd. Benchmark began coverage on Cal-Maine Foods in a research report on Monday, December 1st. They set a “buy” rating and a $100.00 target price on the stock. 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. Finally, Lake Street Capital set a $97.00 price target on Cal-Maine Foods in a research note on Friday, October 3rd. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $101.40.

Cal-Maine Foods Stock Performance

Shares of NASDAQ:CALM opened at $81.98 on Friday. The business’s fifty day moving average price is $86.74 and its two-hundred day moving average price is $97.81. The stock has a market cap 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.

Cal-Maine Foods (NASDAQ:CALM) last released 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 during 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%.The business’s revenue was up 17.4% compared to the same quarter last year. During the same period last year, the firm earned $3.06 earnings per share. As a group, equities research 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 company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th were paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend was Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 21.18%.

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 cost of $92.36 per share, for a total transaction of $258,608.00. Following the completion of the acquisition, the insider directly owned 3,738 shares in the company, valued at $345,241.68. This represents a 298.51% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.90% of the stock is owned by corporate insiders.

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.