Victory Capital Management Inc. Lowers Stock Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Victory Capital Management Inc. decreased its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 16.4% in the second quarter, Holdings Channel reports. The institutional investor owned 99,632 shares of the basic materials company’s stock after selling 19,597 shares during the period. Victory Capital Management Inc.’s holdings in Cal-Maine Foods were worth $6,089,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Hodges Capital Management Inc. raised its holdings in Cal-Maine Foods by 0.4% in the 2nd quarter. Hodges Capital Management Inc. now owns 154,834 shares of the basic materials company’s stock worth $9,462,000 after purchasing an additional 609 shares during the period. Rhumbline Advisers raised its stake in shares of Cal-Maine Foods by 6.8% during the 2nd quarter. Rhumbline Advisers now owns 125,952 shares of the basic materials company’s stock worth $7,697,000 after buying an additional 8,036 shares during the period. Cadence Wealth Management LLC lifted its position in shares of Cal-Maine Foods by 9.4% during the 2nd quarter. Cadence Wealth Management LLC now owns 7,976 shares of the basic materials company’s stock valued at $487,000 after buying an additional 682 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Cal-Maine Foods in the 2nd quarter valued at $154,000. Finally, Hantz Financial Services Inc. purchased a new stake in Cal-Maine Foods in the 2nd quarter worth $25,000. Institutional investors and hedge funds own 84.67% of the company’s stock.

Insider Activity at Cal-Maine Foods

In other news, Director James E. Poole sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $70.65, for a total transaction of $105,975.00. Following the transaction, the director now directly owns 10,170 shares in the company, valued at approximately $718,510.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Cal-Maine Foods news, COO Michael Todd Walters sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was 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 directly owns 5,310 shares of the company’s stock, valued at approximately $372,762. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Poole sold 1,500 shares of Cal-Maine Foods stock in a transaction on Friday, July 26th. The stock was sold at an average price of $70.65, for a total value of $105,975.00. Following the transaction, the director now owns 10,170 shares in the company, valued at approximately $718,510.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,000 shares of company stock valued at $422,970. Corporate insiders own 13.51% of the company’s stock.

Analysts Set New Price Targets

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

Cal-Maine Foods Trading Up 0.0 %

NASDAQ:CALM opened at $69.38 on Monday. The firm has a market cap of $3.40 billion, a P/E ratio of 12.30 and a beta of -0.10. The stock has a 50 day moving average of $68.89 and a two-hundred day moving average of $62.74. Cal-Maine Foods, Inc. has a 12 month low of $42.25 and a 12 month high of $72.70.

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

Cal-Maine Foods Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, August 5th were given a dividend of $0.77 per share. The ex-dividend date was Monday, August 5th. This represents a $3.08 dividend on an annualized basis and a yield of 4.44%. Cal-Maine Foods’s payout ratio is presently 54.61%.

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.