Exchange Traded Concepts LLC Trims Stake in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Exchange Traded Concepts LLC trimmed its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 7.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,822 shares of the basic materials company’s stock after selling 3,023 shares during the quarter. Exchange Traded Concepts LLC owned 0.08% of Cal-Maine Foods worth $2,980,000 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. Axiom Advisory LLC raised its stake in Cal-Maine Foods by 3.3% in the third quarter. Axiom Advisory LLC now owns 4,061 shares of the basic materials company’s stock worth $280,000 after buying an additional 128 shares in the last quarter. Hexagon Capital Partners LLC raised its position in shares of Cal-Maine Foods by 57.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 155 shares in the last quarter. Garner Asset Management Corp lifted its stake in shares of Cal-Maine Foods by 0.9% during the 2nd quarter. Garner Asset Management Corp now owns 20,252 shares of the basic materials company’s stock worth $1,238,000 after purchasing an additional 183 shares during the last quarter. Regal Investment Advisors LLC boosted its position in Cal-Maine Foods by 3.9% during the second quarter. Regal Investment Advisors LLC now owns 5,404 shares of the basic materials company’s stock valued at $330,000 after purchasing an additional 203 shares in the last quarter. Finally, Arizona State Retirement System grew its stake 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 valued at $719,000 after purchasing an additional 230 shares during the last quarter. Institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Price Performance

NASDAQ CALM opened at $90.56 on Tuesday. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 16.06 and a beta of -0.10. The stock’s fifty day moving average price is $74.00 and its 200 day moving average price is $65.69. Cal-Maine Foods, Inc. has a 1 year low of $44.30 and a 1 year high of $90.85.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Tuesday, October 1st. The basic materials company reported $3.06 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30). Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The firm had revenue of $785.87 million for the quarter, compared to analyst estimates of $704.65 million. During the same period last year, the firm earned $0.02 EPS. The company’s revenue for the quarter was up 71.1% compared to the same quarter last year.

Cal-Maine Foods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Wednesday, October 30th will be issued a $1.02 dividend. This is an increase from Cal-Maine Foods’s previous quarterly dividend of $0.77. This represents a $4.08 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend is Wednesday, October 30th. Cal-Maine Foods’s dividend payout ratio is 72.16%.

Analyst Ratings Changes

Several research analysts recently commented on CALM shares. Stephens assumed coverage on shares of Cal-Maine Foods in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price objective for the company. StockNews.com upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Thursday, October 3rd. Finally, The Goldman Sachs Group boosted their target price 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.

Insider Transactions at Cal-Maine Foods

In related news, COO Michael Todd Walters sold 3,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total transaction of $210,600.00. Following the completion of the transaction, the chief operating officer now directly owns 5,310 shares in the company, valued at $372,762. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Robert L. Holladay, Jr. sold 1,500 shares of the firm’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 directly owns 16,754 shares of the company’s stock, valued at $1,188,361.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael Todd Walters sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total value of $210,600.00. Following the completion of the transaction, the chief operating officer now directly owns 5,310 shares of the company’s stock, valued at $372,762. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,000 shares of company stock worth $422,970 over the last 90 days. 13.51% of the stock is currently owned by company 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.