Pacer Advisors Inc. Lowers Stake in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Pacer Advisors Inc. lessened its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 45.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,497,183 shares of the basic materials company’s stock after selling 1,262,429 shares during the period. Pacer Advisors Inc. owned approximately 3.05% of Cal-Maine Foods worth $91,493,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CALM. Garner Asset Management Corp boosted its position in shares of Cal-Maine Foods by 0.9% in the second quarter. Garner Asset Management Corp now owns 20,252 shares of the basic materials company’s stock worth $1,238,000 after buying an additional 183 shares during the period. Arizona State Retirement System boosted its position in shares of Cal-Maine Foods by 2.0% in the second quarter. Arizona State Retirement System now owns 11,765 shares of the basic materials company’s stock worth $719,000 after buying an additional 230 shares during the period. AlphaMark Advisors LLC boosted its position in shares of Cal-Maine Foods by 4.7% in the second quarter. AlphaMark Advisors LLC now owns 5,554 shares of the basic materials company’s stock worth $339,000 after buying an additional 249 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Cal-Maine Foods by 37.6% in the fourth quarter. Quadrant Capital Group LLC now owns 941 shares of the basic materials company’s stock worth $54,000 after buying an additional 257 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Cal-Maine Foods by 73.8% in the second quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock worth $41,000 after buying an additional 287 shares during the period. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Stock Performance

Shares of CALM opened at $74.73 on Friday. The company has a market capitalization of $3.66 billion, a P/E ratio of 13.25 and a beta of -0.10. Cal-Maine Foods, Inc. has a one year low of $42.25 and a one year high of $75.12. The stock has a 50-day moving average price of $69.81 and a 200 day moving average price of $63.24.

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). The business had revenue of $640.80 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.27 EPS.

Cal-Maine Foods Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, August 5th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date was Monday, August 5th. Cal-Maine Foods’s dividend payout ratio is currently 54.61%.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upped their target price on Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a research report 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 sale, the director now owns 10,170 shares in the company, valued at $718,510.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 sale, the director now owns 10,170 shares in the company, valued at $718,510.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Michael Todd Walters sold 3,000 shares of the company’s stock in a transaction that occurred 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 owns 5,310 shares in the company, valued at approximately $372,762. The disclosure for this sale can be found here. Over 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.

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.