Cal-Maine Foods, Inc. (NASDAQ:CALM) Short Interest Update

Cal-Maine Foods, Inc. (NASDAQ:CALM) saw a large increase in short interest in August. As of August 15th, there was short interest totalling 2,100,000 shares, an increase of 5.5% from the July 31st total of 1,990,000 shares. Based on an average daily volume of 566,300 shares, the short-interest ratio is currently 3.7 days. Approximately 5.2% of the company’s stock are short sold.

Insider Buying and Selling at Cal-Maine Foods

In other news, COO Michael Todd Walters sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total transaction of $210,600.00. Following the completion of the sale, the chief operating officer now owns 5,310 shares of the company’s stock, valued at $372,762. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Michael Todd Walters sold 3,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $70.20, for a total value of $210,600.00. Following the completion of the sale, the chief operating officer now directly owns 5,310 shares of the company’s stock, valued at $372,762. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Robert L. Holladay, Jr. sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total value of $106,395.00. Following the transaction, the vice president now directly owns 16,754 shares in the company, valued at approximately $1,188,361.22. The disclosure for this sale can be found here. Insiders have sold a total of 6,000 shares of company stock valued at $422,970 in the last three months. Corporate insiders own 13.51% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Cetera Investment Advisers boosted its stake in shares of Cal-Maine Foods by 21.9% during the 2nd quarter. Cetera Investment Advisers now owns 17,554 shares of the basic materials company’s stock worth $1,073,000 after acquiring an additional 3,152 shares in the last quarter. Truist Financial Corp lifted its stake in shares of Cal-Maine Foods by 14.8% in the second quarter. Truist Financial Corp now owns 17,234 shares of the basic materials company’s stock worth $1,053,000 after buying an additional 2,218 shares during the last quarter. Regal Investment Advisors LLC boosted its holdings in shares of Cal-Maine Foods by 3.9% during the 2nd quarter. Regal Investment Advisors LLC now owns 5,404 shares of the basic materials company’s stock worth $330,000 after buying an additional 203 shares during the period. Quarry LP lifted its position in Cal-Maine Foods by 1,975.0% during the 2nd quarter. Quarry LP now owns 581 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 553 shares during the last quarter. Finally, Creative Planning boosted its holdings in Cal-Maine Foods by 33.9% during the second quarter. Creative Planning now owns 7,608 shares of the basic materials company’s stock valued at $465,000 after acquiring an additional 1,926 shares during the period. Institutional investors own 84.67% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upped their price objective on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a report on Wednesday, July 17th.

Cal-Maine Foods Stock Down 1.3 %

CALM opened at $71.07 on Wednesday. The firm has a market capitalization of $3.49 billion, a P/E ratio of 12.60 and a beta of -0.10. Cal-Maine Foods has a 12-month low of $42.25 and a 12-month high of $72.70. The stock has a fifty day moving average of $67.72 and a 200-day moving average of $62.10.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Tuesday, July 23rd. The basic materials company reported $2.32 EPS for the quarter, missing the consensus estimate of $2.41 by ($0.09). Cal-Maine Foods had a net margin of 11.94% and a return on equity of 16.46%. The company had revenue of $640.80 million for the quarter, compared to analysts’ expectations of $652.32 million. During the same quarter in the prior year, the firm earned $2.27 earnings per share. The company’s revenue was down 4.2% on a year-over-year basis.

Cal-Maine Foods Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, August 5th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.33%. The ex-dividend date was Monday, August 5th. Cal-Maine Foods’s dividend payout ratio is 54.61%.

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.