Bank of New York Mellon Corp Buys 10,287 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Bank of New York Mellon Corp grew its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 481,313 shares of the basic materials company’s stock after buying an additional 10,287 shares during the period. Bank of New York Mellon Corp owned approximately 0.98% of Cal-Maine Foods worth $29,413,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of CALM. Planned Solutions Inc. bought a new position in Cal-Maine Foods during the 2nd quarter worth approximately $225,000. Louisiana State Employees Retirement System boosted its position in shares of Cal-Maine Foods by 2.0% during the second quarter. Louisiana State Employees Retirement System now owns 20,500 shares of the basic materials company’s stock worth $1,253,000 after purchasing an additional 400 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Cal-Maine Foods by 18.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 9,459 shares of the basic materials company’s stock worth $578,000 after purchasing an additional 1,460 shares in the last quarter. Hoxton Planning & Management LLC acquired a new position in shares of Cal-Maine Foods in the 2nd quarter valued at $244,000. Finally, Blue Trust Inc. increased its position in shares of Cal-Maine Foods by 12,523.1% in the 2nd quarter. Blue Trust Inc. now owns 3,282 shares of the basic materials company’s stock valued at $193,000 after buying an additional 3,256 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods news, Director James E. Poole sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $70.65, for a total transaction of $105,975.00. Following the completion of the transaction, the director now owns 10,170 shares of the company’s stock, valued at approximately $718,510.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO Michael Todd Walters sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was 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 owns 5,310 shares in the company, valued at approximately $372,762. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James E. Poole sold 1,500 shares of the company’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 owns 10,170 shares in the company, valued at approximately $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 owned by insiders.

Cal-Maine Foods Stock Performance

Shares of CALM opened at $71.07 on Wednesday. The firm’s 50 day moving average price is $67.72 and its two-hundred day moving average price is $62.10. Cal-Maine Foods, Inc. has a twelve month low of $42.25 and a twelve month high of $72.70. The firm has a market cap of $3.49 billion, a P/E ratio of 12.60 and a beta of -0.10.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results 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). Cal-Maine Foods had a return on equity of 16.46% and a net margin of 11.94%. The company had revenue of $640.80 million during the quarter, compared to analyst estimates of $652.32 million. During the same period in the previous year, the company posted $2.27 earnings per share. Cal-Maine Foods’s revenue for the quarter was down 4.2% on a year-over-year basis.

Cal-Maine Foods Cuts Dividend

The company also recently disclosed 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 was Monday, August 5th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.33%. Cal-Maine Foods’s payout ratio is presently 54.61%.

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.