Kendall Capital Management Acquires 595 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Kendall Capital Management increased its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 1.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,400 shares of the basic materials company’s stock after purchasing an additional 595 shares during the quarter. Kendall Capital Management owned 0.07% of Cal-Maine Foods worth $2,163,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Garner Asset Management Corp increased its stake in 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 in the last quarter. Seven Eight Capital LP grew its stake in shares of Cal-Maine Foods by 26.3% during the 2nd quarter. Seven Eight Capital LP now owns 8,758 shares of the basic materials company’s stock worth $535,000 after acquiring an additional 1,822 shares in the last quarter. Shariaportfolio Inc. grew its stake in shares of Cal-Maine Foods by 5.5% during the 2nd quarter. Shariaportfolio Inc. now owns 48,804 shares of the basic materials company’s stock worth $2,982,000 after acquiring an additional 2,545 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Cal-Maine Foods by 5.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,129 shares of the basic materials company’s stock worth $313,000 after acquiring an additional 287 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new position in shares of Cal-Maine Foods during the 2nd quarter worth approximately $1,632,000. 84.67% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Michael Todd Walters sold 3,000 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer now owns 5,310 shares of the company’s stock, valued at approximately $372,762. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Cal-Maine Foods news, Director James E. Poole sold 1,500 shares of the firm’s stock in a transaction 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 sale, the director now owns 10,170 shares of the company’s stock, valued at approximately $718,510.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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. 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. 13.51% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Cal-Maine Foods Stock Up 0.5 %

Shares of CALM opened at $71.32 on Thursday. The stock has a market capitalization of $3.50 billion, a P/E ratio of 12.65 and a beta of -0.10. Cal-Maine Foods, Inc. has a twelve month low of $42.25 and a twelve month high of $73.37. The company has a 50 day moving average of $69.21 and a 200-day moving average of $62.94.

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

Cal-Maine Foods Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, August 5th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Monday, August 5th. Cal-Maine Foods’s payout ratio is presently 54.61%.

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.