Mutual of America Capital Management LLC lifted its position in shares of Cal-Maine Foods Inc (NASDAQ:CALM) by 26.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,778 shares of the basic materials company’s stock after buying an additional 15,328 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Cal-Maine Foods were worth $3,337,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc boosted its position in Cal-Maine Foods by 1.9% during the first quarter. Legal & General Group Plc now owns 61,015 shares of the basic materials company’s stock valued at $2,706,000 after purchasing an additional 1,114 shares in the last quarter. Prudential Financial Inc. boosted its position in Cal-Maine Foods by 2.5% during the first quarter. Prudential Financial Inc. now owns 50,312 shares of the basic materials company’s stock valued at $2,199,000 after purchasing an additional 1,250 shares in the last quarter. Juncture Wealth Strategies LLC boosted its position in Cal-Maine Foods by 28.6% during the second quarter. Juncture Wealth Strategies LLC now owns 7,200 shares of the basic materials company’s stock valued at $330,000 after purchasing an additional 1,600 shares in the last quarter. Rhumbline Advisers boosted its position in Cal-Maine Foods by 2.7% during the second quarter. Rhumbline Advisers now owns 75,306 shares of the basic materials company’s stock valued at $3,453,000 after purchasing an additional 1,999 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in Cal-Maine Foods by 34.3% during the first quarter. Jane Street Group LLC now owns 9,143 shares of the basic materials company’s stock valued at $400,000 after purchasing an additional 2,337 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.
Cal-Maine Foods stock opened at $48.80 on Thursday. Cal-Maine Foods Inc has a one year low of $35.20 and a one year high of $52.30. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 16.82 and a beta of 0.54.
Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Monday, July 23rd. The basic materials company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.01. Cal-Maine Foods had a return on equity of 16.48% and a net margin of 8.38%. The company had revenue of $443.10 million during the quarter, compared to analysts’ expectations of $445.00 million. During the same period last year, the business posted ($0.51) earnings per share. The firm’s revenue was up 61.4% compared to the same quarter last year. equities research analysts predict that Cal-Maine Foods Inc will post 3.35 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 21st. Shareholders of record on Monday, August 6th were paid a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Friday, August 3rd. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 49.30%.
In other Cal-Maine Foods news, major shareholder Jean Morris Adams sold 114,851 shares of the stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $44.40, for a total value of $5,099,384.40. Following the completion of the sale, the insider now directly owns 1,199,895 shares in the company, valued at $53,275,338. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders sold 225,000 shares of company stock valued at $10,027,482. 33.16% of the stock is currently owned by company insiders.
A number of brokerages recently weighed in on CALM. BidaskClub downgraded Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research downgraded Cal-Maine Foods from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 10th. Finally, ValuEngine upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Cal-Maine Foods presently has an average rating of “Hold” and a consensus price target of $54.50.
About Cal-Maine Foods
Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.
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