Cal-Maine Foods Inc (CALM) Holdings Boosted by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. boosted its holdings in shares of Cal-Maine Foods Inc (NASDAQ:CALM) by 8.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 298,334 shares of the basic materials company’s stock after buying an additional 23,544 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.61% of Cal-Maine Foods worth $13,679,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in CALM. SG Americas Securities LLC acquired a new position in Cal-Maine Foods during the first quarter worth approximately $140,000. Amalgamated Bank acquired a new position in Cal-Maine Foods during the second quarter worth approximately $219,000. Stevens Capital Management LP acquired a new position in Cal-Maine Foods during the first quarter worth approximately $222,000. Sciencast Management LP acquired a new position in Cal-Maine Foods during the first quarter worth approximately $222,000. Finally, Callahan Advisors LLC acquired a new position in Cal-Maine Foods during the second quarter worth approximately $231,000. 59.31% of the stock is currently owned by hedge funds and other institutional investors.
In other news, major shareholder Jean Morris Adams sold 40,149 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $44.95, for a total value of $1,804,697.55. Following the transaction, the insider now owns 1,074,895 shares of the company’s stock, valued at $48,316,530.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 225,000 shares of company stock worth $10,027,482 in the last ninety days. 33.03% of the stock is owned by company insiders.
Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Monday, July 23rd. The basic materials company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.47 by $0.01. Cal-Maine Foods had a return on equity of 16.48% and a net margin of 8.38%. The company had revenue of $443.10 million for the quarter, compared to the consensus estimate of $445.00 million. During the same quarter in the prior year, the business earned ($0.51) earnings per share. The firm’s revenue for the quarter was up 61.4% on a year-over-year basis. sell-side analysts expect that Cal-Maine Foods Inc will post 3.35 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 21st. Stockholders of record on Monday, August 6th were given a $0.351 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Friday, August 3rd. Cal-Maine Foods’s payout ratio is 49.30%.
A number of equities analysts have weighed in on CALM shares. BidaskClub raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Tuesday, August 14th. Zacks Investment Research downgraded Cal-Maine Foods from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 10th. Finally, ValuEngine raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $54.50.
Cal-Maine Foods Profile
Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.
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