Denali Advisors LLC Makes New Investment in Cal-Maine Foods, Inc. $CALM

Key Points

• Denali Advisors LLC has made a new investment in Cal-Maine Foods, purchasing 32,154 shares valued at approximately $3.2 million, representing 0.07% ownership of the company.
• Cal-Maine Foods reported quarterly earnings of $4.12 per share, missing analysts' estimates of $4.55, with a revenue of $922.6 million, slightly below the expected $931.62 million.
• The company announced a quarterly dividend of $1.37 per share, which will be paid on November 13th; this reflects a 6.1% dividend yield and a payout ratio of 36.22%.

Denali Advisors LLC bought a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 32,154 shares of the basic materials company's stock, valued at approximately $3,204,000. Denali Advisors LLC owned about 0.07% of Cal-Maine Foods at the end of the most recent quarter.

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

Insider Activity at Cal-Maine Foods

In other news, insider Keira L. Lombardo bought 2,800 shares of Cal-Maine Foods stock in a transaction dated Thursday, October 2nd. The shares were acquired at an average cost of $92.36 per share, with a total value of $258,608.00. Following the completion of the transaction, the insider owned 3,738 shares in the company, valued at approximately $345,241.68. This trade represents a 298.51% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.90% of the company's stock.

Cal-Maine Foods Stock Down 1.1%

Shares of CALM stock opened at $90.25 on Wednesday. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 3.47 and a beta of 0.22. Cal-Maine Foods, Inc. has a fifty-two week low of $79.55 and a fifty-two week high of $126.40. The firm's 50 day moving average price is $103.54 and its two-hundred day moving average price is $100.47.

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). The business had revenue of $922.60 million for the quarter, compared to analyst estimates of $931.62 million. Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The company's quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the firm earned $3.06 earnings per share. On average, equities analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Wednesday, October 29th will be given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Wednesday, October 29th. Cal-Maine Foods's payout ratio is presently 36.22%.

Wall Street Analysts Forecast Growth

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