Cetera Investment Advisers Increases Stock Holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Cetera Investment Advisers boosted its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 21.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,554 shares of the basic materials company’s stock after purchasing an additional 3,152 shares during the period. Cetera Investment Advisers’ holdings in Cal-Maine Foods were worth $1,073,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Truist Financial Corp lifted its position in 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 valued at $1,053,000 after buying an additional 2,218 shares during the last quarter. Regal Investment Advisors LLC lifted its holdings in shares of Cal-Maine Foods by 3.9% in the 2nd quarter. Regal Investment Advisors LLC now owns 5,404 shares of the basic materials company’s stock worth $330,000 after acquiring an additional 203 shares during the last quarter. Quarry LP lifted its holdings in shares of Cal-Maine Foods by 1,975.0% in 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. Creative Planning increased its holdings in Cal-Maine Foods by 33.9% in the 2nd quarter. Creative Planning now owns 7,608 shares of the basic materials company’s stock valued at $465,000 after purchasing an additional 1,926 shares during the last quarter. Finally, Magnolia Capital Advisors LLC acquired a new stake in Cal-Maine Foods in the 2nd quarter valued at approximately $638,000. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CALM. The Goldman Sachs Group increased their target price on Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a research note on Wednesday, July 17th. StockNews.com raised shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. Finally, Stephens started coverage on shares of Cal-Maine Foods in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price objective for the company.

Cal-Maine Foods Stock Up 0.3 %

Shares of NASDAQ:CALM opened at $94.40 on Friday. Cal-Maine Foods, Inc. has a fifty-two week low of $44.30 and a fifty-two week high of $95.06. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 16.74 and a beta of -0.10. The firm’s 50 day moving average price is $75.43 and its 200 day moving average price is $66.32.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30). Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The business had revenue of $785.87 million during the quarter, compared to analyst estimates of $704.65 million. During the same quarter in the prior year, the business earned $0.02 earnings per share. The firm’s quarterly revenue was up 71.1% on a year-over-year basis.

Cal-Maine Foods Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, August 5th were paid a $0.77 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.08 annualized dividend and a yield of 3.26%. Cal-Maine Foods’s dividend payout ratio is currently 72.16%.

Insiders Place Their Bets

In other news, COO Michael Todd Walters sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total value of $210,600.00. Following the completion of the transaction, the chief operating officer now owns 5,310 shares in the company, valued at approximately $372,762. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, 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 completion of the sale, the vice president now directly owns 16,754 shares of the company’s stock, valued at approximately $1,188,361.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael Todd Walters sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $70.20, for a total transaction of $210,600.00. Following the transaction, the chief operating officer now owns 5,310 shares in the company, valued at approximately $372,762. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,000 shares of company stock valued at $422,970. 13.51% 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.