Keira Lombardo Acquires 2,800 Shares of Cal-Maine Foods (NASDAQ:CALM) Stock

Key Points

• Keira Lombardo, an insider at Cal-Maine Foods, acquired 2,800 shares of the stock at an average price of $92.36 per share, increasing her total holdings by 298.51%.
• Cal-Maine Foods recently reported quarterly earnings of $4.12 EPS, falling short of analysts' expectations of $4.55 EPS, with revenue for the quarter reaching $922.60 million.
• The company announced a quarterly dividend of $1.37 to be paid on November 13, representing an annualized dividend yield of 5.9% with a payout ratio of 36.22%.

Cal-Maine Foods, Inc. (NASDAQ:CALM - Get Free Report) insider Keira Lombardo bought 2,800 shares of the stock in a transaction dated 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 acquisition, the insider directly owned 3,738 shares of the company's stock, valued at approximately $345,241.68. The trade was a 298.51% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Cal-Maine Foods Trading Up 0.2%

CALM traded up $0.21 during trading on Monday, hitting $92.77. 1,477,456 shares of the company's stock traded hands, compared to its average volume of 1,163,603. Cal-Maine Foods, Inc. has a 12-month low of $79.55 and a 12-month high of $126.40. The company's 50 day simple moving average is $106.80 and its two-hundred day simple moving average is $100.52. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 3.57 and a beta of 0.22.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its quarterly earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.55 by ($0.43). Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The firm had revenue of $922.60 million during the quarter, compared to analysts' expectations of $931.62 million. During the same quarter last year, the business earned $3.06 earnings per share. The business's quarterly revenue was up 17.4% on a year-over-year basis. On average, equities analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current 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 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 5.9%. Cal-Maine Foods's dividend payout ratio is currently 36.22%.

Analysts Set New Price Targets

A number of research analysts have recently commented on CALM shares. Wall Street Zen cut Cal-Maine Foods from a "buy" rating to a "hold" rating in a research note on Saturday, August 23rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Cal-Maine Foods in a research report on Saturday, September 27th. The Goldman Sachs Group lowered their target price on Cal-Maine Foods from $110.00 to $98.00 and set a "neutral" rating for the company in a report on Friday. Lake Street Capital set a $97.00 target price on shares of Cal-Maine Foods in a report on Friday. Finally, Stephens increased 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. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Cal-Maine Foods currently has a consensus rating of "Hold" and an average target price of $101.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CALM. Wellington Management Group LLP purchased a new stake in shares of Cal-Maine Foods during the 4th quarter worth approximately $391,000. NBC Securities Inc. raised its position in Cal-Maine Foods by 139,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,400 shares of the basic materials company's stock valued at $127,000 after purchasing an additional 1,399 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new stake in Cal-Maine Foods in the 1st quarter valued at $209,000. Harbor Capital Advisors Inc. raised its position in Cal-Maine Foods by 126.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 920 shares of the basic materials company's stock valued at $84,000 after purchasing an additional 513 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Cal-Maine Foods by 25.7% in the 1st quarter. GAMMA Investing LLC now owns 1,720 shares of the basic materials company's stock valued at $156,000 after buying an additional 352 shares during the period. Institutional investors and hedge funds own 84.67% of the company's stock.

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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