Cal-Maine Foods, Inc. $CALM Shares Bought by TD Asset Management Inc

Key Points

• TD Asset Management Inc has increased its stake in Cal-Maine Foods by 37.2% during the second quarter, now owning 37,600 shares valued at approximately $3.75 million.
• Cal-Maine Foods reported $4.12 earnings per share for the latest quarter, missing analyst estimates by $0.43, and had a 17.4% revenue increase year-over-year.
• The company recently declared a quarterly dividend of $1.37 per share, with an annualized yield of 6.0%.

TD Asset Management Inc increased its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 37.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,600 shares of the basic materials company's stock after acquiring an additional 10,200 shares during the quarter. TD Asset Management Inc owned approximately 0.08% of Cal-Maine Foods worth $3,746,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CALM. GAMMA Investing LLC grew its holdings in shares of Cal-Maine Foods by 25.7% in the 1st 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 last quarter. Blue Trust Inc. grew its holdings 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 worth $56,000 after acquiring an additional 493 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Cal-Maine Foods by 23.6% in the 1st 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 last quarter. Harbour Capital Advisors LLC acquired a new position in shares of Cal-Maine Foods in the 1st quarter worth $263,000. Finally, Archford Capital Strategies LLC acquired a new position in shares of Cal-Maine Foods in the 1st quarter worth $2,491,000. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling 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 stock was bought at an average price of $92.36 per share, with a total value of $258,608.00. Following the completion of the transaction, the insider directly owned 3,738 shares of the company's stock, valued at approximately $345,241.68. This represents a 298.51% increase in their ownership of the stock. The acquisition 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.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CALM shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Cal-Maine Foods in a report on Saturday, September 27th. Wall Street Zen downgraded Cal-Maine Foods from a "buy" rating to a "hold" rating in a report on Saturday, August 23rd. BMO Capital Markets lowered their price target on Cal-Maine Foods from $105.00 to $97.00 and set a "market perform" rating on the stock in a report on Friday, October 3rd. The Goldman Sachs Group lowered their price target on Cal-Maine Foods from $110.00 to $98.00 and set a "neutral" rating on the stock in a report on Friday, October 3rd. Finally, Stephens lifted their price target on Cal-Maine Foods from $108.00 to $115.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Cal-Maine Foods currently has an average rating of "Hold" and an average target price of $101.75.

Cal-Maine Foods Trading Down 3.5%

CALM opened at $91.25 on Tuesday. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of 3.51 and a beta of 0.22. Cal-Maine Foods, Inc. has a 1 year low of $79.55 and a 1 year high of $126.40. The stock has a fifty day moving average price of $103.89 and a 200 day moving average price of $100.54.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share for the quarter, missing analysts' consensus estimates of $4.55 by ($0.43). Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The company had revenue of $922.60 million during the quarter, compared to analyst estimates of $931.62 million. During the same period in the prior year, the firm earned $3.06 EPS. Cal-Maine Foods's quarterly revenue was up 17.4% on a year-over-year basis. As a group, sell-side 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. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 6.0%. Cal-Maine Foods's payout ratio is currently 36.22%.

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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