Russell Investments Group Ltd. Decreases Stake in Cal-Maine Foods, Inc. $CALM

Russell Investments Group Ltd. lessened its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 20.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 65,508 shares of the basic materials company’s stock after selling 16,529 shares during the quarter. Russell Investments Group Ltd. owned 0.13% of Cal-Maine Foods worth $6,521,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Nuveen LLC acquired a new stake in shares of Cal-Maine Foods in the first quarter worth $35,322,000. Empowered Funds LLC boosted its position in Cal-Maine Foods by 315.2% during the 1st quarter. Empowered Funds LLC now owns 251,228 shares of the basic materials company’s stock worth $22,837,000 after purchasing an additional 190,715 shares during the period. American Century Companies Inc. increased its holdings in Cal-Maine Foods by 13.4% in the 1st quarter. American Century Companies Inc. now owns 1,436,943 shares of the basic materials company’s stock valued at $130,618,000 after purchasing an additional 170,322 shares in the last quarter. Northern Trust Corp increased its holdings in Cal-Maine Foods by 23.5% in the 1st quarter. Northern Trust Corp now owns 833,054 shares of the basic materials company’s stock valued at $75,725,000 after purchasing an additional 158,719 shares in the last quarter. Finally, Trexquant Investment LP raised its position in Cal-Maine Foods by 169.6% in the first quarter. Trexquant Investment LP now owns 152,939 shares of the basic materials company’s stock valued at $13,902,000 after purchasing an additional 96,208 shares during the period. 84.67% of the stock is owned by institutional investors and hedge funds.

Cal-Maine Foods Stock Performance

NASDAQ:CALM opened at $85.21 on Friday. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of 3.28 and a beta of 0.24. Cal-Maine Foods, Inc. has a one year low of $79.55 and a one year high of $126.40. The stock has a 50-day simple moving average of $89.37 and a 200 day simple moving average of $99.00.

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 (EPS) for the quarter, missing the consensus estimate of $4.55 by ($0.43). Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The firm had revenue of $922.60 million for the quarter, compared to analyst estimates of $931.62 million. During the same quarter in the previous year, the company earned $3.06 EPS. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, equities research analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Wednesday, October 29th were paid a dividend of $1.37 per share. The ex-dividend date was Wednesday, October 29th. This represents a $5.48 annualized dividend and a yield of 6.4%. Cal-Maine Foods’s dividend payout ratio (DPR) is 21.18%.

Insider Buying and Selling

In other Cal-Maine Foods news, insider Keira L. Lombardo acquired 2,800 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was purchased at an average price of $92.36 per share, with a total value of $258,608.00. Following the completion of the acquisition, the insider directly owned 3,738 shares in the company, valued at $345,241.68. This trade represents a 298.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CALM shares. Lake Street Capital set a $97.00 target price on Cal-Maine Foods in a research report on Friday, October 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Cal-Maine Foods in a research report on Monday. Wall Street Zen lowered shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Saturday, August 23rd. BMO Capital Markets dropped their target price on Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating on the stock in a research report on Friday, October 3rd. Finally, The Goldman Sachs Group cut their price target on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, October 3rd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $101.40.

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.