Krane Funds Advisors LLC Purchases Shares of 438 Cal-Maine Foods, Inc. (NASDAQ:CALM)

Krane Funds Advisors LLC acquired a new position in Cal-Maine Foods, Inc. (NASDAQ:CALM) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 438 shares of the basic materials company’s stock, valued at approximately $33,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in 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 purchasing an additional 114,995 shares in the last quarter. Renaissance Technologies LLC boosted its stake 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 in the last quarter. Hodges Capital Management Inc. grew its holdings 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 worth $9,076,000 after purchasing an additional 86,870 shares during the period. American Century Companies Inc. increased its stake 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 purchasing an additional 82,772 shares in the last quarter. Finally, Buck Wealth Strategies LLC raised its holdings 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 during the period. 84.67% of the stock is owned by institutional investors and hedge funds.

Cal-Maine Foods Price Performance

CALM opened at $94.40 on Friday. Cal-Maine Foods, Inc. has a fifty-two week low of $44.30 and a fifty-two week high of $95.06. The firm has a market capitalization of $4.63 billion, a PE ratio of 16.74 and a beta of -0.10. The company’s 50-day moving average is $75.43 and its 200 day moving average is $66.32.

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

Cal-Maine Foods Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders 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 yield of 3.26%. The ex-dividend date of this dividend was Monday, August 5th. Cal-Maine Foods’s dividend payout ratio is 72.16%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CALM. Stephens assumed coverage on Cal-Maine Foods in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 target price 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 increased their target price on Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a report on Wednesday, July 17th.

Insiders Place Their Bets

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 shares were sold at an average price of $70.93, for a total transaction of $106,395.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Robert L. Holladay, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 16,754 shares of the company’s stock, valued at $1,188,361.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Michael Todd Walters sold 3,000 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now directly owns 5,310 shares of the company’s stock, valued at approximately $372,762. This represents 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 valued at $422,970 in the last three months. 13.51% of the stock is currently owned by insiders.

About Cal-Maine Foods

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.