Pzena Investment Management LLC Invests $281,000 in Cal-Maine Foods, Inc. $CALM

Key Points

• Pzena Investment Management LLC has invested approximately $281,000 in Cal-Maine Foods, acquiring 2,823 shares of the company's stock in the second quarter.
• Wall Street analysts have mixed views on Cal-Maine Foods, with target prices ranging from $97.00 to $115.00 and a consensus rating of "Hold".
• Cal-Maine Foods recently reported a quarterly EPS of $4.12, missing estimates, and announced a quarterly dividend of $1.37 per share to be paid on November 13th.

Pzena Investment Management LLC bought a new position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,823 shares of the basic materials company's stock, valued at approximately $281,000.

Several other institutional investors have also recently made changes to their positions in CALM. Nuveen LLC bought a new position in Cal-Maine Foods during the first quarter valued at about $35,322,000. Jupiter Asset Management Ltd. grew its position in Cal-Maine Foods by 336.5% during the first quarter. Jupiter Asset Management Ltd. now owns 487,214 shares of the basic materials company's stock valued at $44,288,000 after buying an additional 375,604 shares during the period. Empowered Funds LLC grew its position in Cal-Maine Foods by 315.2% during the first quarter. Empowered Funds LLC now owns 251,228 shares of the basic materials company's stock valued at $22,837,000 after buying an additional 190,715 shares during the period. American Century Companies Inc. grew its position in Cal-Maine Foods by 13.4% during the first quarter. American Century Companies Inc. now owns 1,436,943 shares of the basic materials company's stock valued at $130,618,000 after buying an additional 170,322 shares during the period. Finally, Northern Trust Corp grew its position in Cal-Maine Foods by 23.5% during the first quarter. Northern Trust Corp now owns 833,054 shares of the basic materials company's stock valued at $75,725,000 after buying an additional 158,719 shares during the period. Institutional investors own 84.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Stephens increased 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 dropped their target price on Cal-Maine Foods from $110.00 to $98.00 and set a "neutral" rating on the stock in a research report on Friday, October 3rd. Lake Street Capital set a $97.00 price target on shares of Cal-Maine Foods in a report on Friday, October 3rd. BMO Capital Markets lowered their price target on shares of 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. 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 research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Cal-Maine Foods presently has a consensus rating of "Hold" and an average target price of $101.75.

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods news, insider Keira L. Lombardo purchased 2,800 shares of the firm's stock in a transaction on Thursday, October 2nd. The shares were purchased at an average cost of $92.36 per share, with a total value of $258,608.00. Following the completion of the purchase, the insider owned 3,738 shares of the company's stock, valued at $345,241.68. The trade was a 298.51% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.90% of the company's stock.

Cal-Maine Foods Stock Performance

CALM stock opened at $92.03 on Tuesday. The company has a market capitalization of $4.46 billion, a PE ratio of 3.54 and a beta of 0.22. Cal-Maine Foods, Inc. has a one year low of $79.55 and a one year high of $126.40. The company's 50 day moving average price is $105.22 and its two-hundred day moving average price is $100.52.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 1st. The basic materials company reported $4.12 EPS for the quarter, missing the consensus estimate of $4.55 by ($0.43). The business had revenue of $922.60 million for the quarter, compared to analysts' expectations of $931.62 million. Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The company's revenue was up 17.4% compared to the same quarter last year. During the same period last year, the business posted $3.06 earnings per share. On average, research analysts predict that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Cal-Maine Foods Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th will be paid a dividend of $1.37 per share. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $5.48 annualized dividend and a dividend yield of 6.0%. Cal-Maine Foods's dividend payout ratio (DPR) is 36.22%.

Cal-Maine Foods 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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