Truist Financial Corp Increases Stock Holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Truist Financial Corp boosted its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 14.8% during the second quarter, Holdings Channel.com reports. The firm owned 17,234 shares of the basic materials company’s stock after buying an additional 2,218 shares during the quarter. Truist Financial Corp’s holdings in Cal-Maine Foods were worth $1,053,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CALM. Fisher Asset Management LLC lifted its holdings in Cal-Maine Foods by 3.9% in the fourth quarter. Fisher Asset Management LLC now owns 33,838 shares of the basic materials company’s stock valued at $1,942,000 after acquiring an additional 1,284 shares during the last quarter. Eldred Rock Partners LLC lifted its stake in shares of Cal-Maine Foods by 1.0% in the 1st quarter. Eldred Rock Partners LLC now owns 133,531 shares of the basic materials company’s stock valued at $7,858,000 after purchasing an additional 1,314 shares during the last quarter. Hodges Capital Management Inc. grew its holdings in shares of Cal-Maine Foods by 129.0% during the 1st quarter. Hodges Capital Management Inc. now owns 154,225 shares of the basic materials company’s stock worth $9,076,000 after purchasing an additional 86,870 shares during the period. MCF Advisors LLC acquired a new stake in shares of Cal-Maine Foods during the 1st quarter worth about $46,000. Finally, AlphaMark Advisors LLC purchased a new stake in Cal-Maine Foods in the 1st quarter valued at about $312,000. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Stock Performance

Shares of CALM opened at $90.45 on Monday. The company’s 50-day simple moving average is $73.56 and its 200-day simple moving average is $65.47. Cal-Maine Foods, Inc. has a 1 year low of $44.30 and a 1 year high of $90.72. The stock has a market capitalization of $4.44 billion, a PE ratio of 10.36 and a beta of -0.10.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Tuesday, October 1st. The basic materials company reported $3.06 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.30). Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The business had revenue of $785.87 million during the quarter, compared to analysts’ expectations of $704.65 million. During the same period in the prior year, the business earned $0.02 EPS. The business’s quarterly revenue was up 71.1% on a year-over-year basis.

Cal-Maine Foods Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Wednesday, October 30th will be given a $1.02 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $4.08 dividend on an annualized basis and a yield of 4.51%. This is a positive change from Cal-Maine Foods’s previous quarterly dividend of $0.77. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 35.28%.

Insider Activity

In related news, COO Michael Todd Walters sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total transaction of $210,600.00. Following the sale, the chief operating officer now directly owns 5,310 shares in the company, valued at approximately $372,762. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director James E. Poole sold 1,500 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $70.65, for a total transaction of $105,975.00. Following the completion of the transaction, the director now owns 10,170 shares in the company, valued at approximately $718,510.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Michael Todd Walters sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total value of $210,600.00. Following the completion of the sale, the chief operating officer now owns 5,310 shares in the company, valued at approximately $372,762. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,000 shares of company stock worth $422,970. 13.45% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. Stephens initiated coverage on Cal-Maine Foods in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 target price on the stock. Finally, The Goldman Sachs Group raised their price target on Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a research report on Wednesday, July 17th.

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.