Twin Tree Management LP Takes Position in Cal-Maine Foods, Inc. $CALM

Key Points

• Twin Tree Management LP acquired a new stake in Cal-Maine Foods, purchasing 5,015 shares valued at approximately $500,000 during the 2nd quarter.
• Cal-Maine Foods recently reported an EPS of $4.12, missing consensus estimates, with a revenue of $922.60 million, reflecting a 17.4% year-over-year increase.
• The company plans to pay a $1.37 quarterly dividend on November 13th, with an annualized dividend yield of 5.8% and a payout ratio of 36.22%.

Twin Tree Management LP purchased a new stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,015 shares of the basic materials company's stock, valued at approximately $500,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CALM. GAMMA Investing LLC boosted its position in shares of Cal-Maine Foods by 25.7% during the 1st quarter. GAMMA Investing LLC now owns 1,720 shares of the basic materials company's stock valued at $156,000 after purchasing an additional 352 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Cal-Maine Foods by 388.2% during the 1st quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock valued at $56,000 after purchasing an additional 493 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Cal-Maine Foods by 23.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,683 shares of the basic materials company's stock valued at $789,000 after purchasing an additional 1,660 shares in the last quarter. Harbour Capital Advisors LLC bought a new stake in shares of Cal-Maine Foods during the 1st quarter valued at about $263,000. Finally, Archford Capital Strategies LLC bought a new stake in shares of Cal-Maine Foods during the 1st quarter valued at about $2,491,000. Institutional investors own 84.67% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Stephens upped their target price on Cal-Maine Foods from $108.00 to $115.00 and gave the company an "equal weight" rating in a research report 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. BMO Capital Markets cut their target price on Cal-Maine Foods from $105.00 to $97.00 and set a "market perform" rating on the stock 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 report on Saturday, August 23rd. Finally, The Goldman Sachs Group cut their price target on Cal-Maine Foods from $110.00 to $98.00 and set a "neutral" rating on the stock in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $101.75.

Insider Activity at Cal-Maine Foods

In related news, insider Keira L. Lombardo acquired 2,800 shares of the stock in a transaction dated Thursday, October 2nd. The stock was 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 directly owned 3,738 shares in the company, valued at $345,241.68. This trade represents a 298.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.90% of the stock is currently owned by company insiders.

Cal-Maine Foods Stock Performance

Shares of NASDAQ:CALM opened at $94.56 on Friday. The business's 50 day simple moving average is $104.21 and its two-hundred day simple moving average is $100.45. The firm has a market cap of $4.59 billion, a P/E ratio of 3.64 and a beta of 0.22. Cal-Maine Foods, Inc. has a 52-week low of $79.55 and a 52-week high of $126.40.

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 (EPS) for the quarter, missing the consensus estimate of $4.55 by ($0.43). The firm had revenue of $922.60 million during the quarter, compared to the consensus estimate of $931.62 million. Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The firm's revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.06 EPS. On average, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders 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 annualized dividend and a dividend yield of 5.8%. Cal-Maine Foods's dividend payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.