Amalgamated Bank Reduces Stake in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Amalgamated Bank cut its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 2.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 12,448 shares of the basic materials company’s stock after selling 305 shares during the quarter. Amalgamated Bank’s holdings in Cal-Maine Foods were worth $761,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Wasatch Advisors LP purchased a new position in shares of Cal-Maine Foods during the fourth quarter worth $47,771,000. Balyasny Asset Management L.P. lifted its holdings in shares of Cal-Maine Foods by 748.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 790,266 shares of the basic materials company’s stock valued at $45,353,000 after buying an additional 697,170 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Cal-Maine Foods by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,616,011 shares of the basic materials company’s stock worth $159,863,000 after buying an additional 114,995 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Cal-Maine Foods by 5.5% during the second quarter. Renaissance Technologies LLC now owns 2,115,624 shares of the basic materials company’s stock worth $129,286,000 after acquiring an additional 110,900 shares during the period. Finally, Hodges Capital Management Inc. raised its position in Cal-Maine Foods by 129.0% during the first quarter. Hodges Capital Management Inc. now owns 154,225 shares of the basic materials company’s stock valued at $9,076,000 after acquiring an additional 86,870 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Stock Up 1.9 %

CALM stock opened at $74.65 on Friday. Cal-Maine Foods, Inc. has a 52 week low of $42.25 and a 52 week high of $75.64. The firm has a 50-day simple moving average of $70.76 and a 200-day simple moving average of $63.77. The stock has a market capitalization of $3.66 billion, a P/E ratio of 13.24 and a beta of -0.10.

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

Cal-Maine Foods Cuts Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.08 annualized dividend and a dividend yield of 4.13%. Cal-Maine Foods’s dividend payout ratio is presently 54.61%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upped their price objective 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

In other news, Director James E. Poole sold 1,500 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $70.65, for a total value of $105,975.00. Following the completion of the sale, the director now owns 10,170 shares of the company’s stock, valued at approximately $718,510.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Michael Todd Walters sold 3,000 shares of the company’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 transaction, the chief operating officer now owns 5,310 shares of the company’s stock, valued at approximately $372,762. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James E. Poole sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $70.65, for a total value of $105,975.00. Following the sale, the director now directly owns 10,170 shares of the company’s stock, valued at $718,510.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,000 shares of company stock valued at $422,970. 13.51% of the stock is currently owned by insiders.

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.