Inspire Investing LLC Acquires 13,128 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Inspire Investing LLC boosted its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 211.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,322 shares of the basic materials company’s stock after purchasing an additional 13,128 shares during the period. Inspire Investing LLC’s holdings in Cal-Maine Foods were worth $1,181,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. XTX Topco Ltd boosted its stake in shares of Cal-Maine Foods by 84.0% during the 2nd quarter. XTX Topco Ltd now owns 10,638 shares of the basic materials company’s stock worth $650,000 after buying an additional 4,856 shares during the last quarter. Kendall Capital Management raised its holdings in Cal-Maine Foods by 1.7% during the second quarter. Kendall Capital Management now owns 35,400 shares of the basic materials company’s stock worth $2,163,000 after acquiring an additional 595 shares in the last quarter. Garner Asset Management Corp boosted its position in Cal-Maine Foods by 0.9% during the second quarter. Garner Asset Management Corp now owns 20,252 shares of the basic materials company’s stock valued at $1,238,000 after purchasing an additional 183 shares during the last quarter. Seven Eight Capital LP grew its stake in Cal-Maine Foods by 26.3% in the second quarter. Seven Eight Capital LP now owns 8,758 shares of the basic materials company’s stock valued at $535,000 after purchasing an additional 1,822 shares in the last quarter. Finally, Shariaportfolio Inc. grew its stake in Cal-Maine Foods by 5.5% in the second quarter. Shariaportfolio Inc. now owns 48,804 shares of the basic materials company’s stock valued at $2,982,000 after purchasing an additional 2,545 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Robert L. Holladay, Jr. sold 1,500 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total value 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Michael Todd Walters sold 3,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total value of $210,600.00. Following the transaction, the chief operating officer now directly owns 5,310 shares in the company, valued at $372,762. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the vice president now directly owns 16,754 shares in the company, valued at $1,188,361.22. The disclosure for this sale can be found here. Insiders sold a total of 6,000 shares of company stock valued at $422,970 over the last ninety days. 13.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Cal-Maine Foods Price Performance

Cal-Maine Foods stock opened at $73.69 on Friday. Cal-Maine Foods, Inc. has a fifty-two week low of $42.25 and a fifty-two week high of $73.74. The firm has a market capitalization of $3.61 billion, a PE ratio of 13.07 and a beta of -0.10. The company’s 50-day moving average is $69.37 and its 200-day moving average is $63.00.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Tuesday, July 23rd. The basic materials company reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $652.32 million. During the same quarter in the prior year, the company earned $2.27 EPS. Cal-Maine Foods’s quarterly revenue was down 4.2% on a year-over-year basis.

Cal-Maine Foods Cuts Dividend

The firm also recently declared 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 4.18%. The ex-dividend date of this dividend was Monday, August 5th. Cal-Maine Foods’s dividend payout ratio is 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.