Cal-Maine Foods, Inc. (NASDAQ:CALM) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 70.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,952 shares of the basic materials company’s stock after selling 47,997 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Cal-Maine Foods were worth $1,219,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. boosted its holdings in Cal-Maine Foods by 17.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 129,833 shares of the basic materials company’s stock worth $7,934,000 after buying an additional 18,934 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Cal-Maine Foods in the second quarter worth approximately $137,000. Main Street Financial Solutions LLC increased its position in shares of Cal-Maine Foods by 47.6% during the second quarter. Main Street Financial Solutions LLC now owns 28,343 shares of the basic materials company’s stock worth $1,732,000 after purchasing an additional 9,145 shares in the last quarter. Vest Financial LLC raised its stake in Cal-Maine Foods by 36.6% in the 2nd quarter. Vest Financial LLC now owns 19,035 shares of the basic materials company’s stock valued at $1,163,000 after purchasing an additional 5,101 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Cal-Maine Foods by 8.9% in the 2nd quarter. American Century Companies Inc. now owns 1,013,713 shares of the basic materials company’s stock valued at $61,948,000 after purchasing an additional 82,772 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group increased their target price on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the company a “sell” rating in a research report on Wednesday, July 17th.

Cal-Maine Foods Price Performance

CALM stock opened at $74.73 on Monday. Cal-Maine Foods, Inc. has a 1 year low of $42.25 and a 1 year high of $75.12. The firm has a market capitalization of $3.66 billion, a PE ratio of 13.25 and a beta of -0.10. The business has a 50 day simple moving average of $69.81 and a 200-day simple moving average of $63.28.

Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results on Tuesday, July 23rd. The basic materials company reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.41 by ($0.09). The company had revenue of $640.80 million during the quarter, compared to analyst estimates of $652.32 million. Cal-Maine Foods had a return on equity of 16.46% and a net margin of 11.94%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business earned $2.27 earnings per share.

Cal-Maine Foods Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, August 5th were issued a $0.77 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.08 annualized dividend and a yield of 4.12%. Cal-Maine Foods’s payout ratio is 54.61%.

Insider Activity

In related news, VP Robert L. Holladay, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total value of $106,395.00. Following the transaction, the vice president now directly owns 16,754 shares in the company, valued at $1,188,361.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Robert L. Holladay, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total transaction of $106,395.00. Following the completion of the sale, the vice president now directly owns 16,754 shares of the company’s stock, valued at approximately $1,188,361.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Todd Walters sold 3,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total transaction of $210,600.00. Following the completion of the transaction, the chief operating officer now directly owns 5,310 shares in the company, valued at approximately $372,762. The disclosure for this sale can be found here. Insiders sold a total of 6,000 shares of company stock valued at $422,970 in the last 90 days. Company insiders own 13.51% of the company’s stock.

About Cal-Maine Foods

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.