Texas Permanent School Fund Corp Decreases Stake in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Texas Permanent School Fund Corp lessened its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 11.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,562 shares of the basic materials company’s stock after selling 4,013 shares during the period. Texas Permanent School Fund Corp owned 0.06% of Cal-Maine Foods worth $1,929,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Hantz Financial Services Inc. acquired a new stake in shares of Cal-Maine Foods in the second quarter valued at approximately $25,000. Cape Investment Advisory Inc. acquired a new stake in shares of Cal-Maine Foods in the 4th quarter worth $32,000. TFO Wealth Partners LLC raised its holdings in shares of Cal-Maine Foods by 32,400.0% during the 4th quarter. TFO Wealth Partners LLC now owns 650 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 648 shares during the period. CWM LLC boosted its position in shares of Cal-Maine Foods by 120.1% during the 2nd quarter. CWM LLC now owns 625 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 341 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Cal-Maine Foods by 73.8% in the second quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 287 shares during the period. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Stock Up 1.2 %

Shares of Cal-Maine Foods stock opened at $70.95 on Wednesday. The business’s fifty day simple moving average is $69.04 and its 200-day simple moving average is $62.83. The firm has a market cap of $3.48 billion, a PE ratio of 12.61 and a beta of -0.10. Cal-Maine Foods, Inc. has a 52 week low of $42.25 and a 52 week high of $72.70.

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

Cal-Maine Foods Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, August 5th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.08 annualized dividend and a dividend yield of 4.34%. Cal-Maine Foods’s dividend payout ratio is currently 54.61%.

Insider Activity

In related news, Director James E. Poole sold 1,500 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $70.65, for a total transaction of $105,975.00. Following the transaction, the director now owns 10,170 shares of the company’s stock, valued at approximately $718,510.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, COO Michael Todd Walters sold 3,000 shares of the company’s stock in a transaction 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 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 hyperlink. Also, Director James E. Poole sold 1,500 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $70.65, for a total value of $105,975.00. Following the completion of the sale, the director now owns 10,170 shares in the company, valued at $718,510.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,000 shares of company stock valued at $422,970. 13.51% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group boosted their target price 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.

About Cal-Maine Foods

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.