Janney Montgomery Scott LLC Has $2.37 Million Holdings in Cal-Maine Foods, Inc. $CALM

Key Points

• Janney Montgomery Scott LLC significantly increased its holdings in Cal-Maine Foods by 738.0% in the second quarter, owning 23,733 shares valued at approximately $2.37 million.
• Several analysts have issued mixed ratings: while Stephens raised their price target to $115.00, Goldman Sachs lowered it to $98.00, contributing to an average target price of $101.75.
• Cal-Maine Foods recently announced a quarterly dividend of $1.37 per share, leading to an annualized dividend yield of 6.0%, despite cutting its overall dividend payouts.

Janney Montgomery Scott LLC lifted its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 738.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,733 shares of the basic materials company's stock after purchasing an additional 20,901 shares during the period. Janney Montgomery Scott LLC's holdings in Cal-Maine Foods were worth $2,365,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CALM. Nuveen LLC acquired a new stake in shares of Cal-Maine Foods in the 1st quarter valued at $35,322,000. Jupiter Asset Management Ltd. lifted its stake in shares of Cal-Maine Foods by 336.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 487,214 shares of the basic materials company's stock valued at $44,288,000 after purchasing an additional 375,604 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Cal-Maine Foods by 315.2% in the 1st quarter. Empowered Funds LLC now owns 251,228 shares of the basic materials company's stock valued at $22,837,000 after purchasing an additional 190,715 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Cal-Maine Foods by 13.4% in the 1st quarter. American Century Companies Inc. now owns 1,436,943 shares of the basic materials company's stock valued at $130,618,000 after purchasing an additional 170,322 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Cal-Maine Foods by 23.5% in the 1st quarter. Northern Trust Corp now owns 833,054 shares of the basic materials company's stock valued at $75,725,000 after purchasing an additional 158,719 shares during the last quarter. Institutional investors and hedge funds own 84.67% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Stephens lifted their price objective on shares of 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 reissued a "buy (b)" rating on shares of Cal-Maine Foods in a research report on Saturday, September 27th. The Goldman Sachs Group cut 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 research report on Friday, October 3rd. BMO Capital Markets cut 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 research report on Friday, October 3rd. Finally, Wall Street Zen lowered shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a research report on Saturday, August 23rd. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $101.75.

Insiders Place Their Bets

In other Cal-Maine Foods news, insider Keira L. Lombardo bought 2,800 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were acquired at an average price of $92.36 per share, with a total value of $258,608.00. Following the completion of the purchase, the insider directly owned 3,738 shares in the company, valued at $345,241.68. The trade was a 298.51% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.90% of the stock is currently owned by insiders.

Cal-Maine Foods Stock Down 0.6%

NASDAQ CALM opened at $91.55 on Friday. The stock has a market cap of $4.49 billion, a P/E ratio of 3.52 and a beta of 0.22. The company's 50-day simple moving average is $105.72 and its 200 day simple moving average is $100.40. 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 posted its 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 during the quarter, compared to the consensus estimate of $931.62 million. Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The business's revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.06 EPS. Research analysts anticipate 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 announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Wednesday, October 29th will be paid 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 yield of 6.0%. 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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