Pacer Advisors Inc. Trims Position in Cal-Maine Foods, Inc. $CALM

Pacer Advisors Inc. decreased its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 3.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 433,100 shares of the basic materials company’s stock after selling 13,935 shares during the period. Pacer Advisors Inc.’s holdings in Cal-Maine Foods were worth $40,755,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in Cal-Maine Foods by 6.8% during the second quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock worth $171,038,000 after buying an additional 108,578 shares during the period. American Century Companies Inc. increased its stake in shares of Cal-Maine Foods by 8.8% during the 2nd quarter. American Century Companies Inc. now owns 1,563,734 shares of the basic materials company’s stock valued at $155,795,000 after acquiring an additional 126,791 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cal-Maine Foods by 7.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,095,246 shares of the basic materials company’s stock worth $109,132,000 after acquiring an additional 76,102 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of Cal-Maine Foods by 60.1% during the 2nd quarter. Squarepoint Ops LLC now owns 934,037 shares of the basic materials company’s stock worth $93,058,000 after acquiring an additional 350,771 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Cal-Maine Foods by 6.6% in the second quarter. Bank of America Corp DE now owns 705,671 shares of the basic materials company’s stock worth $70,306,000 after acquiring an additional 43,414 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CALM has been the subject of several research analyst reports. Lake Street Capital set a $97.00 price target on shares of Cal-Maine Foods in a research report on Friday, October 3rd. BMO Capital Markets dropped their price objective on Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating for the company in a report on Friday, October 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cal-Maine Foods in a report on Monday. The Goldman Sachs Group lowered their price target on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, October 3rd. Finally, Benchmark started coverage on Cal-Maine Foods in a report on Monday, December 1st. They issued a “buy” rating and a $100.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Cal-Maine Foods has a consensus rating of “Hold” and a consensus target price of $101.40.

Insider Transactions at Cal-Maine Foods

In other Cal-Maine Foods news, insider Keira L. Lombardo acquired 2,800 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were bought at an average cost of $92.36 per share, for a total transaction of $258,608.00. Following the acquisition, the insider directly owned 3,738 shares of the company’s stock, valued at $345,241.68. This trade represents a 298.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.90% of the stock is owned by corporate insiders.

Cal-Maine Foods Price Performance

Shares of CALM opened at $81.98 on Friday. Cal-Maine Foods, Inc. has a 12 month low of $79.55 and a 12 month high of $126.40. The stock’s 50-day moving average is $86.74 and its two-hundred day moving average is $97.81. The stock has a market cap of $3.98 billion, a PE ratio of 3.15 and a beta of 0.24.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Wednesday, October 1st. The basic materials company reported $4.12 EPS for the quarter, missing the consensus estimate of $4.55 by ($0.43). The company had revenue of $922.60 million for the quarter, compared to analysts’ expectations of $931.62 million. Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.06 earnings per share. On average, research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Cal-Maine Foods Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th were paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date was Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio (DPR) is 21.18%.

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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.