Inspire Investing LLC Sells 13,764 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Inspire Investing LLC cut its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 71.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,558 shares of the basic materials company’s stock after selling 13,764 shares during the quarter. Inspire Investing LLC’s holdings in Cal-Maine Foods were worth $416,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CALM. Ritholtz Wealth Management bought a new stake in shares of Cal-Maine Foods during the 3rd quarter valued at $217,000. Unison Advisors LLC purchased a new position in Cal-Maine Foods during the 3rd quarter valued at about $726,000. Hexagon Capital Partners LLC boosted its stake in Cal-Maine Foods by 57.0% during the third quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 155 shares in the last quarter. Axiom Advisory LLC grew its holdings in Cal-Maine Foods by 3.3% in the third quarter. Axiom Advisory LLC now owns 4,061 shares of the basic materials company’s stock worth $280,000 after purchasing an additional 128 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Cal-Maine Foods by 62.9% during the third quarter. GAMMA Investing LLC now owns 1,101 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 425 shares in the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

Cal-Maine Foods Stock Up 1.8 %

NASDAQ:CALM opened at $92.22 on Wednesday. Cal-Maine Foods, Inc. has a 52 week low of $44.30 and a 52 week high of $93.05. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of 16.35 and a beta of -0.10. The company’s 50 day moving average price is $74.46 and its 200-day moving average price is $65.93.

Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results 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). The business had revenue of $785.87 million during the quarter, compared to the consensus estimate of $704.65 million. Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The firm’s revenue for the quarter was up 71.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.02 EPS.

Cal-Maine Foods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Wednesday, October 30th will be paid a dividend of $1.02 per share. The ex-dividend date is Wednesday, October 30th. This represents a $4.08 annualized dividend and a yield of 4.42%. This is a boost from Cal-Maine Foods’s previous quarterly dividend of $0.77. Cal-Maine Foods’s dividend payout ratio is currently 72.16%.

Insider Activity

In related news, Director James E. Poole sold 1,500 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were 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 in the company, valued at $718,510.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cal-Maine Foods news, Director James E. Poole sold 1,500 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 10,170 shares in the company, valued at approximately $718,510.50. This trade 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 is accessible through this hyperlink. Also, COO Michael Todd Walters sold 3,000 shares of Cal-Maine Foods 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 transaction, the chief operating officer now owns 5,310 shares in the company, valued at $372,762. This represents a 0.00 % decrease in their position. 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 90 days. 13.51% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on CALM shares. Stephens started coverage on Cal-Maine Foods in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price target on the stock. The Goldman Sachs Group boosted their target price on Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a report on Wednesday, July 17th. Finally, StockNews.com upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Thursday, October 3rd.

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.