Inspire Investing LLC Sells 5,625 Shares of Cal-Maine Foods, Inc. $CALM

Key Points

• Inspire Investing LLC reduced its holdings in Cal-Maine Foods by 44.6%, selling 5,625 shares, and now holds 6,994 shares valued at approximately $697,000.
• Cal-Maine Foods announced a quarterly dividend of $1.37 per share, representing an annual yield of 5.8%, with the ex-dividend date set for October 29th.
• Analysts have mixed ratings for Cal-Maine Foods, with a consensus rating of "Hold" and a target price of $101.75, following recent adjustments in price targets by various brokerages.

Inspire Investing LLC trimmed its position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 44.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,994 shares of the basic materials company's stock after selling 5,625 shares during the period. Inspire Investing LLC's holdings in Cal-Maine Foods were worth $697,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CALM. Stephens upped their price objective on Cal-Maine Foods from $108.00 to $115.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. Weiss Ratings restated a "buy (b)" rating on shares of Cal-Maine Foods in a research report on Saturday, September 27th. Lake Street Capital set a $97.00 price target on shares of Cal-Maine Foods in a research report on Friday, October 3rd. BMO Capital Markets reduced their price target on shares of 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. Finally, Wall Street Zen downgraded shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a research report on Saturday, August 23rd. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $101.75.

Insiders Place Their Bets

In related news, insider Keira L. Lombardo bought 2,800 shares of Cal-Maine Foods stock in a transaction on Thursday, October 2nd. The stock was acquired at an average price of $92.36 per share, with a total value of $258,608.00. Following the acquisition, the insider directly owned 3,738 shares of the company's stock, valued at $345,241.68. This represents a 298.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.90% of the stock is owned by insiders.

Cal-Maine Foods Stock Up 3.1%

CALM opened at $94.43 on Monday. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 3.63 and a beta of 0.22. The firm has a 50-day moving average price of $105.45 and a 200-day moving average price of $100.51. Cal-Maine Foods, Inc. has a twelve month low of $79.55 and a twelve month high of $126.40.

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 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 business had revenue of $922.60 million during the quarter, compared to analysts' expectations of $931.62 million. During the same quarter in the prior year, the firm posted $3.06 earnings per share. The firm's quarterly revenue was up 17.4% on a year-over-year basis. On average, sell-side analysts expect 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 announced a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th will be issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Wednesday, October 29th. Cal-Maine Foods's payout ratio is presently 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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