3,517 Shares in Cal-Maine Foods, Inc. $CALM Purchased by BTS Asset Management Inc.

Key Points

• BTS Asset Management Inc. acquired 3,517 shares of Cal-Maine Foods, valued at approximately $350,000, making it the 20th largest holding in their portfolio.
• Cal-Maine Foods reported earnings per share (EPS) of $4.12 for the latest quarter, missing analyst expectations of $4.55, but showed a 17.4% increase in revenue year-over-year.
• The company declared a quarterly dividend of $1.37, with an annualized yield of 6.1%, despite experiencing a stock price decline of 1.1% recently.

BTS Asset Management Inc. acquired a new position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,517 shares of the basic materials company's stock, valued at approximately $350,000. Cal-Maine Foods accounts for about 0.4% of BTS Asset Management Inc.'s portfolio, making the stock its 20th biggest holding.

A number of other hedge funds also recently added to or reduced their stakes in CALM. GAMMA Investing LLC lifted its stake in Cal-Maine Foods by 25.7% in the first quarter. GAMMA Investing LLC now owns 1,720 shares of the basic materials company's stock worth $156,000 after acquiring an additional 352 shares during the period. Blue Trust Inc. lifted its stake in Cal-Maine Foods by 388.2% in the first quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock worth $56,000 after acquiring an additional 493 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in Cal-Maine Foods by 23.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,683 shares of the basic materials company's stock worth $789,000 after acquiring an additional 1,660 shares during the period. Harbour Capital Advisors LLC purchased a new stake in Cal-Maine Foods in the first quarter worth about $263,000. Finally, Archford Capital Strategies LLC purchased a new stake in Cal-Maine Foods in the first quarter worth about $2,491,000. 84.67% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cal-Maine Foods news, insider Keira L. Lombardo purchased 2,800 shares of the business's stock in a transaction that occurred on Thursday, October 2nd. The shares were bought at an average price of $92.36 per share, for a total transaction of $258,608.00. Following the acquisition, the insider owned 3,738 shares in the company, valued at $345,241.68. This represents a 298.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.90% of the company's stock.

Cal-Maine Foods Stock Down 1.1%

CALM opened at $90.25 on Wednesday. Cal-Maine Foods, Inc. has a 52-week low of $79.55 and a 52-week high of $126.40. The company has a market cap of $4.38 billion, a P/E ratio of 3.47 and a beta of 0.22. The firm's 50-day moving average price is $103.54 and its 200-day moving average price is $100.47.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted 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 company had revenue of $922.60 million for the quarter, compared to analyst estimates of $931.62 million. During the same quarter last year, the company earned $3.06 EPS. The business's revenue was up 17.4% compared to the same quarter last year. On average, research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Wednesday, October 29th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 6.1%. The ex-dividend date is Wednesday, October 29th. Cal-Maine Foods's dividend payout ratio is 36.22%.

Analyst Ratings Changes

CALM has been the subject of a number of research reports. Wall Street Zen lowered shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a research note on Saturday, August 23rd. The Goldman Sachs Group cut their price objective on shares of Cal-Maine Foods from $110.00 to $98.00 and set a "neutral" rating on the stock in a research report on Friday, October 3rd. Lake Street Capital set a $97.00 price objective on shares of Cal-Maine Foods in a research report on Friday, October 3rd. BMO Capital Markets cut their price objective on shares of 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, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cal-Maine Foods in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Cal-Maine Foods currently has an average rating of "Hold" and an average price target of $101.75.

Cal-Maine Foods Company 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.

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