AlphaCrest Capital Management LLC increased its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM – Get Rating) by 25.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,651 shares of the basic materials company’s stock after acquiring an additional 8,128 shares during the quarter. AlphaCrest Capital Management LLC owned about 0.08% of Cal-Maine Foods worth $1,959,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FDx Advisors Inc. bought a new position in Cal-Maine Foods in the first quarter worth $209,000. Everence Capital Management Inc. bought a new position in Cal-Maine Foods in the second quarter worth $340,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Cal-Maine Foods in the second quarter worth $839,000. Los Angeles Capital Management LLC bought a new position in Cal-Maine Foods in the second quarter worth $2,556,000. Finally, X Square Capital LLC bought a new position in Cal-Maine Foods in the first quarter worth $236,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.
Insider Buying and Selling
In related news, Director James E. Poole sold 5,000 shares of Cal-Maine Foods stock in a transaction dated Wednesday, October 19th. The stock was sold at an average price of $59.45, for a total value of $297,250.00. Following the completion of the sale, the director now directly owns 10,909 shares in the company, valued at approximately $648,540.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 13.49% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Cal-Maine Foods Price Performance
Shares of NASDAQ:CALM opened at $56.88 on Thursday. Cal-Maine Foods, Inc. has a 1-year low of $35.10 and a 1-year high of $62.64. The business has a fifty day moving average price of $57.39 and a 200-day moving average price of $53.30. The company has a market capitalization of $2.78 billion, a PE ratio of 10.07 and a beta of -0.12.
Cal-Maine Foods (NASDAQ:CALM – Get Rating) last issued its quarterly earnings results on Tuesday, September 27th. The basic materials company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.59. Cal-Maine Foods had a return on equity of 25.55% and a net margin of 13.02%. The firm had revenue of $658.34 million during the quarter, compared to the consensus estimate of $617.40 million. During the same period last year, the company earned ($0.37) earnings per share. The company’s revenue was up 102.6% on a year-over-year basis. On average, sell-side analysts anticipate that Cal-Maine Foods, Inc. will post 8.1 earnings per share for the current fiscal year.
Cal-Maine Foods Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Wednesday, October 26th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 5.98%. This is an increase from Cal-Maine Foods’s previous quarterly dividend of $0.75. The ex-dividend date was Tuesday, October 25th. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 60.35%.
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, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, and 4-Grain brand names, as well as under private labels.
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