Envestnet Asset Management Inc. Acquires 18,934 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Envestnet Asset Management Inc. raised its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 17.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 129,833 shares of the basic materials company’s stock after acquiring an additional 18,934 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.26% of Cal-Maine Foods worth $7,934,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Wasatch Advisors LP acquired a new stake in shares of Cal-Maine Foods in the 4th quarter valued at approximately $47,771,000. Balyasny Asset Management L.P. increased its position in shares of Cal-Maine Foods by 748.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 790,266 shares of the basic materials company’s stock worth $45,353,000 after purchasing an additional 697,170 shares during the period. Hodges Capital Management Inc. grew its position in Cal-Maine Foods by 129.0% in 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 during the last quarter. American Century Companies Inc. grew its position in Cal-Maine Foods by 8.9% in the second quarter. American Century Companies Inc. now owns 1,013,713 shares of the basic materials company’s stock valued at $61,948,000 after acquiring an additional 82,772 shares during the last quarter. Finally, Buck Wealth Strategies LLC boosted its stake in shares of Cal-Maine Foods by 762.0% during the first quarter. Buck Wealth Strategies LLC now owns 81,029 shares of the basic materials company’s stock valued at $4,769,000 after purchasing an additional 71,629 shares in the last quarter. 84.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lifted their price objective on Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a research note on Wednesday, July 17th.

Cal-Maine Foods Stock Performance

Shares of CALM 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 business’s 50 day moving average price is $70.76 and its two-hundred day moving average price is $63.80. The firm has a market cap of $3.66 billion, a PE ratio of 13.24 and a beta of -0.10.

Cal-Maine Foods (NASDAQ:CALM) last released 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 for the quarter, compared to the consensus estimate 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 was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.27 EPS.

Cal-Maine Foods Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors 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 yield of 4.13%. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 54.61%.

Insiders Place Their Bets

In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,500 shares of the business’s stock in a transaction 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 owns 16,754 shares of the company’s stock, valued at $1,188,361.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, COO Michael Todd Walters sold 3,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $70.20, for a total transaction of $210,600.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert L. Holladay, Jr. sold 1,500 shares of the stock in a transaction dated Tuesday, August 20th. The stock was 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 in the company, valued at approximately $1,188,361.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,000 shares of company stock valued at $422,970. Insiders own 13.51% of the company’s stock.

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.