Edgestream Partners L.P. Invests $1.63 Million in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Edgestream Partners L.P. acquired a new stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 26,712 shares of the basic materials company’s stock, valued at approximately $1,632,000.

Other hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in Cal-Maine Foods by 2.0% in the second quarter. Arizona State Retirement System now owns 11,765 shares of the basic materials company’s stock worth $719,000 after purchasing an additional 230 shares in the last quarter. AlphaMark Advisors LLC raised its stake in shares of Cal-Maine Foods by 4.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 5,554 shares of the basic materials company’s stock worth $339,000 after acquiring an additional 249 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Cal-Maine Foods by 37.6% during the 4th quarter. Quadrant Capital Group LLC now owns 941 shares of the basic materials company’s stock worth $54,000 after acquiring an additional 257 shares in the last quarter. GAMMA Investing LLC lifted its position in Cal-Maine Foods by 73.8% during the second quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 287 shares during the last quarter. Finally, CWM LLC boosted its stake in Cal-Maine Foods by 120.1% in the second quarter. CWM LLC now owns 625 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 341 shares in the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upped 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.

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,500 shares of the business’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 sale, the vice president now owns 16,754 shares in the company, valued at approximately $1,188,361.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Robert L. Holladay, Jr. sold 1,500 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total value of $106,395.00. Following the sale, the vice president now directly owns 16,754 shares of the company’s stock, valued at approximately $1,188,361.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $210,600.00. Following the transaction, the chief operating officer now directly owns 5,310 shares of the company’s stock, valued at approximately $372,762. The disclosure for this sale can be found here. Insiders have sold a total of 6,000 shares of company stock valued at $422,970 in the last ninety days. Company insiders own 13.51% of the company’s stock.

Cal-Maine Foods Stock Performance

Shares of NASDAQ CALM opened at $73.69 on Friday. Cal-Maine Foods, Inc. has a fifty-two week low of $42.25 and a fifty-two week high of $73.74. The company has a market cap of $3.61 billion, a PE ratio of 13.07 and a beta of -0.10. The business has a 50-day simple moving average of $69.37 and a two-hundred day simple moving average of $63.00.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Tuesday, July 23rd. The basic materials company reported $2.32 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 for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the business earned $2.27 earnings per share.

Cal-Maine Foods Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, August 5th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date was Monday, August 5th. Cal-Maine Foods’s dividend payout ratio (DPR) 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.