Cal-Maine Foods, Inc. (NASDAQ:CALM) Shares Bought by Garner Asset Management Corp

Garner Asset Management Corp grew its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 0.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,252 shares of the basic materials company’s stock after buying an additional 183 shares during the period. Garner Asset Management Corp’s holdings in Cal-Maine Foods were worth $1,238,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CALM. Vanguard Group Inc. grew its position in Cal-Maine Foods by 0.5% during the first quarter. Vanguard Group Inc. now owns 4,795,570 shares of the basic materials company’s stock valued at $282,219,000 after acquiring an additional 23,915 shares during the period. Dimensional Fund Advisors LP increased its position in Cal-Maine Foods by 4.6% during the 2nd 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 raised its holdings in Cal-Maine Foods by 5.5% in the second quarter. Renaissance Technologies LLC now owns 2,115,624 shares of the basic materials company’s stock valued at $129,286,000 after buying an additional 110,900 shares during the period. American Century Companies Inc. lifted its position in Cal-Maine Foods by 8.9% during 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 buying an additional 82,772 shares in the last quarter. Finally, Wasatch Advisors LP acquired a new position in shares of Cal-Maine Foods during the 4th quarter valued at $47,771,000. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cal-Maine Foods

In other Cal-Maine Foods 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 transaction of $106,395.00. Following the sale, the vice president now owns 16,754 shares in the company, valued at $1,188,361.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Michael Todd Walters sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 of the company’s stock, valued at $372,762. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert L. Holladay, Jr. sold 1,500 shares of the firm’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 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. In the last 90 days, insiders sold 6,000 shares of company stock valued at $422,970. Insiders own 13.51% of the company’s stock.

Cal-Maine Foods Price Performance

NASDAQ:CALM opened at $71.32 on Thursday. The firm has a 50-day moving average of $69.21 and a two-hundred day moving average of $62.94. The stock has a market cap of $3.50 billion, a P/E ratio of 12.65 and a beta of -0.10. Cal-Maine Foods, Inc. has a 1-year low of $42.25 and a 1-year high of $73.37.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Tuesday, July 23rd. The basic materials company reported $2.32 EPS for the quarter, missing analysts’ consensus estimates of $2.41 by ($0.09). Cal-Maine Foods had a net margin of 11.94% and a return on equity of 16.46%. The business had revenue of $640.80 million during the quarter, compared to analysts’ expectations of $652.32 million. During the same period in the prior year, the company posted $2.27 EPS. The company’s revenue for the quarter was down 4.2% on a year-over-year basis.

Cal-Maine Foods Cuts Dividend

The business 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 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend was Monday, August 5th. Cal-Maine Foods’s dividend payout ratio is currently 54.61%.

Analyst Ratings Changes

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

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.