Cal-Maine Foods, Inc. $CALM Shares Sold by Diversified Investment Strategies LLC

Key Points

• Diversified Investment Strategies LLC reduced its holdings in Cal-Maine Foods by 39.6%, selling 49,275 shares and owning 75,230 shares after the sale.
• Cal-Maine Foods missed earnings expectations in its recent quarterly report, posting $4.12 EPS against a consensus estimate of $4.55.
• The company announced a quarterly dividend of $1.37 per share, reflecting an annualized yield of 5.9%, to be paid on November 13th.

Diversified Investment Strategies LLC trimmed its position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 39.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,230 shares of the basic materials company's stock after selling 49,275 shares during the quarter. Cal-Maine Foods makes up 5.1% of Diversified Investment Strategies LLC's portfolio, making the stock its 5th biggest position. Diversified Investment Strategies LLC owned 0.15% of Cal-Maine Foods worth $7,495,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc increased its position in Cal-Maine Foods by 195.1% in the second quarter. IFP Advisors Inc now owns 239 shares of the basic materials company's stock worth $25,000 after purchasing an additional 158 shares during the period. Investment Management Corp VA ADV increased its position in Cal-Maine Foods by 172.2% in the first quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company's stock worth $36,000 after purchasing an additional 248 shares during the period. AdvisorNet Financial Inc acquired a new stake in Cal-Maine Foods in the second quarter worth about $54,000. Caitong International Asset Management Co. Ltd acquired a new stake in Cal-Maine Foods in the first quarter worth about $52,000. Finally, Blue Trust Inc. increased its position 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 purchasing an additional 493 shares during the period. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cal-Maine Foods

In other Cal-Maine Foods news, insider Keira L. Lombardo acquired 2,800 shares of the business's stock in a transaction dated Thursday, October 2nd. The shares were acquired at an average price 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 approximately $345,241.68. This trade represents a 298.51% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.90% of the stock is owned by company insiders.

Cal-Maine Foods Price Performance

NASDAQ:CALM opened at $93.26 on Wednesday. Cal-Maine Foods, Inc. has a fifty-two week low of $79.55 and a fifty-two week high of $126.40. The stock has a market capitalization of $4.52 billion, a PE ratio of 3.59 and a beta of 0.22. The business's 50-day simple moving average is $104.98 and its 200-day simple moving average is $100.47.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its quarterly earnings data on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share 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 business had revenue of $922.60 million for the quarter, compared to the consensus estimate of $931.62 million. During the same quarter last year, the firm earned $3.06 EPS. The company's revenue for the quarter was up 17.4% on a year-over-year basis. On average, research analysts expect 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 will be paid on Thursday, November 13th. Stockholders of record on Wednesday, October 29th will be issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Wednesday, October 29th. Cal-Maine Foods's payout ratio is 36.22%.

Analyst Ratings Changes

A number of brokerages recently commented on CALM. Lake Street Capital set a $97.00 price objective on Cal-Maine Foods in a research report on Friday, October 3rd. Stephens boosted their target price 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. The Goldman Sachs Group decreased their target price 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. Wall Street Zen lowered Cal-Maine Foods from a "buy" rating to a "hold" rating in a research report on Saturday, August 23rd. Finally, BMO Capital Markets decreased their target price on Cal-Maine Foods from $105.00 to $97.00 and set a "market perform" rating for the company in a research report on Friday, October 3rd. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $101.75.

About Cal-Maine Foods

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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