Allianz Asset Management GmbH Acquires 34,228 Shares of Cal-Maine Foods, Inc. $CALM

Key Points

• Allianz Asset Management GmbH increased its stake in Cal-Maine Foods by 25.6%, acquiring an additional 34,228 shares to bring its total holdings to 167,924 shares, valued at approximately $16.73 million.
• Cal-Maine Foods reported $4.12 EPS for the recent quarter, missing analysts' estimates of $4.55, although revenue increased by 17.4% year-over-year.
• The company announced a quarterly dividend of $1.37, translating to an annual yield of 6.0%, with the ex-dividend date set for October 29th.

Allianz Asset Management GmbH grew its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 25.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 167,924 shares of the basic materials company's stock after purchasing an additional 34,228 shares during the period. Allianz Asset Management GmbH owned approximately 0.34% of Cal-Maine Foods worth $16,730,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IFP Advisors Inc increased its stake in shares of Cal-Maine Foods by 195.1% in the 2nd quarter. IFP Advisors Inc now owns 239 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 158 shares during the last quarter. Investment Management Corp VA ADV increased its stake in shares of Cal-Maine Foods by 172.2% in the 1st quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 248 shares during the last quarter. AdvisorNet Financial Inc bought a new position in shares of Cal-Maine Foods in the 2nd quarter valued at $54,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Cal-Maine Foods in the 1st quarter valued at $52,000. Finally, Blue Trust Inc. increased its stake in shares of Cal-Maine Foods by 388.2% in the 1st quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock valued at $56,000 after purchasing an additional 493 shares during the last quarter. Institutional investors own 84.67% of the company's stock.

Insider Activity at Cal-Maine Foods

In related news, insider Keira L. Lombardo purchased 2,800 shares of Cal-Maine Foods stock in a transaction on Thursday, October 2nd. The shares were purchased at an average price of $92.36 per share, for a total transaction of $258,608.00. Following the transaction, the insider owned 3,738 shares of the company's stock, valued at approximately $345,241.68. This represents a 298.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 3.90% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CALM. BMO Capital Markets decreased their price target on Cal-Maine Foods from $105.00 to $97.00 and set a "market perform" rating on the stock in a research note on Friday, October 3rd. Lake Street Capital set a $97.00 price objective on Cal-Maine Foods in a research report on Friday, October 3rd. Wall Street Zen lowered Cal-Maine Foods from a "buy" rating to a "hold" rating in a research report on Saturday, August 23rd. Stephens boosted their price objective on Cal-Maine Foods from $108.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group reduced their price objective on 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. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $101.75.

Cal-Maine Foods Trading Down 3.5%

NASDAQ CALM opened at $91.25 on Tuesday. The business's 50-day moving average price is $103.89 and its two-hundred day moving average price is $100.54. Cal-Maine Foods, Inc. has a 12 month low of $79.55 and a 12 month high of $126.40. The firm has a market capitalization of $4.43 billion, a PE ratio of 3.51 and a beta of 0.22.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its quarterly earnings results on Wednesday, October 1st. The basic materials company reported $4.12 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $931.62 million. During the same quarter last year, the firm posted $3.06 EPS. The company's quarterly revenue was up 17.4% on a year-over-year basis. As a group, analysts forecast that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th will be given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Wednesday, October 29th. Cal-Maine Foods's payout ratio is 36.22%.

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.

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