Vest Financial LLC Increases Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Vest Financial LLC lifted its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 5.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,104 shares of the basic materials company’s stock after purchasing an additional 1,069 shares during the period. Vest Financial LLC’s holdings in Cal-Maine Foods were worth $1,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. increased its stake in shares of Cal-Maine Foods by 65.4% in the third quarter. Blue Trust Inc. now owns 5,427 shares of the basic materials company’s stock worth $406,000 after purchasing an additional 2,145 shares in the last quarter. Krane Funds Advisors LLC purchased a new stake in shares of Cal-Maine Foods in the third quarter worth $33,000. Creative Planning grew its stake in Cal-Maine Foods by 34.7% during the third quarter. Creative Planning now owns 10,249 shares of the basic materials company’s stock valued at $767,000 after acquiring an additional 2,641 shares in the last quarter. Ritholtz Wealth Management bought a new stake in Cal-Maine Foods in the 3rd quarter valued at $217,000. Finally, Unison Advisors LLC bought a new stake in Cal-Maine Foods in the 3rd quarter valued at $726,000. 84.67% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Michael Todd Walters sold 3,000 shares of Cal-Maine Foods stock in a transaction dated 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 transaction, the chief operating officer now directly owns 5,310 shares of the company’s stock, valued at approximately $372,762. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Robert L. Holladay, Jr. sold 1,500 shares of Cal-Maine Foods stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total transaction of $106,395.00. Following the completion of the transaction, the vice president now directly owns 16,754 shares of the company’s stock, valued at approximately $1,188,361.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael Todd Walters sold 3,000 shares of Cal-Maine Foods stock in a transaction dated 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 directly owns 5,310 shares of the company’s stock, valued at approximately $372,762. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 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.

Cal-Maine Foods Stock Down 1.7 %

Shares of NASDAQ:CALM opened at $92.76 on Monday. Cal-Maine Foods, Inc. has a 52 week low of $44.30 and a 52 week high of $95.06. The stock has a market capitalization of $4.55 billion, a P/E ratio of 16.45 and a beta of -0.10. The firm has a fifty day simple moving average of $75.88 and a two-hundred day simple moving average of $66.61.

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

Cal-Maine Foods Cuts Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.32%. Cal-Maine Foods’s payout ratio is currently 72.16%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. StockNews.com upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Thursday, October 3rd. The Goldman Sachs Group lifted their price target on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the company a “sell” rating in a report on Wednesday, July 17th. Finally, Stephens assumed 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 target on the stock.

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.