Cal-Maine Foods, Inc. $CALM Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC grew its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 1,085.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 259,445 shares of the basic materials company’s stock after purchasing an additional 237,566 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.53% of Cal-Maine Foods worth $24,414,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in CALM. Archford Capital Strategies LLC boosted its holdings in shares of Cal-Maine Foods by 167.2% in the second quarter. Archford Capital Strategies LLC now owns 73,225 shares of the basic materials company’s stock valued at $7,295,000 after acquiring an additional 45,823 shares during the period. Strs Ohio acquired a new position in shares of Cal-Maine Foods in the 1st quarter valued at $1,154,000. Royal Bank of Canada raised its position in Cal-Maine Foods by 16.1% in the 1st quarter. Royal Bank of Canada now owns 156,322 shares of the basic materials company’s stock valued at $14,210,000 after purchasing an additional 21,630 shares during the last quarter. Creative Planning boosted its stake in Cal-Maine Foods by 49.1% during the 2nd quarter. Creative Planning now owns 19,161 shares of the basic materials company’s stock worth $1,909,000 after purchasing an additional 6,313 shares during the period. Finally, Acadian Asset Management LLC grew its position in Cal-Maine Foods by 22.2% during the 1st quarter. Acadian Asset Management LLC now owns 493,609 shares of the basic materials company’s stock worth $44,848,000 after purchasing an additional 89,823 shares during the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Stock Down 0.4%

NASDAQ CALM opened at $85.70 on Friday. The stock has a market capitalization of $4.16 billion, a P/E ratio of 3.29 and a beta of 0.24. Cal-Maine Foods, Inc. has a 52-week low of $79.55 and a 52-week high of $126.40. The firm has a 50-day moving average price of $87.77 and a 200 day moving average price of $98.31.

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 for the quarter, missing analysts’ consensus estimates of $4.55 by ($0.43). The business had revenue of $922.60 million during the quarter, compared to analysts’ expectations of $931.62 million. Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. Cal-Maine Foods’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.06 EPS. On average, equities research analysts expect that Cal-Maine Foods, Inc. will post 15.59 earnings per share 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 dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend was Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio is currently 21.18%.

Analyst Ratings Changes

A number of research firms have commented on CALM. BMO Capital Markets dropped their price objective on shares of Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating on the stock in a research note on Friday, October 3rd. Lake Street Capital set a $97.00 price target on Cal-Maine Foods in a research report on Friday, October 3rd. Wall Street Zen downgraded Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Saturday, August 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cal-Maine Foods in a research report on Monday, December 15th. Finally, Benchmark started coverage on Cal-Maine Foods in a research note on Monday, December 1st. They issued a “buy” rating and a $100.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $101.40.

Insider Transactions at Cal-Maine Foods

In other Cal-Maine Foods news, insider Keira L. Lombardo acquired 2,800 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was purchased at an average price of $92.36 per share, for a total transaction of $258,608.00. Following the completion of the transaction, the insider 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 available through this hyperlink. Insiders own 3.90% of the company’s stock.

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.