Edgestream Partners L.P. Takes Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Edgestream Partners L.P. bought a new position in Cal-Maine Foods, Inc. (NASDAQ:CALM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,712 shares of the basic materials company’s stock, valued at approximately $1,632,000. Edgestream Partners L.P. owned approximately 0.05% of Cal-Maine Foods at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Cal-Maine Foods by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 4,795,570 shares of the basic materials company’s stock worth $282,219,000 after acquiring an additional 23,915 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Cal-Maine Foods by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,616,011 shares of the basic materials company’s stock valued at $159,863,000 after purchasing an additional 114,995 shares in the last quarter. Renaissance Technologies LLC increased its position 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 worth $129,286,000 after purchasing an additional 110,900 shares during the last quarter. American Century Companies Inc. raised its stake 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 purchasing an additional 82,772 shares in the last quarter. Finally, Wasatch Advisors LP bought a new position in Cal-Maine Foods during the fourth quarter valued at $47,771,000. 84.67% of the stock is owned by institutional investors.

Cal-Maine Foods Price Performance

Shares of CALM stock opened at $73.69 on Friday. The company has a market cap of $3.61 billion, a PE ratio of 13.07 and a beta of -0.10. Cal-Maine Foods, Inc. has a 1 year low of $42.25 and a 1 year high of $73.74. The stock’s 50 day simple moving average is $69.37 and its two-hundred day simple moving average is $63.00.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Tuesday, July 23rd. The basic materials company reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.41 by ($0.09). The company had revenue of $640.80 million for 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 business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.27 EPS.

Cal-Maine Foods Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, August 5th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.18%. Cal-Maine Foods’s dividend payout ratio is presently 54.61%.

Analyst Ratings Changes

Separately, The Goldman Sachs Group lifted their price objective 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.

Insider Activity at Cal-Maine Foods

In other 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 transaction, the director now owns 10,170 shares of the company’s stock, valued at $718,510.50. 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 stock in a transaction on 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 $718,510.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Michael Todd Walters sold 3,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total transaction of $210,600.00. Following the sale, the chief operating officer now directly owns 5,310 shares of the company’s stock, valued at $372,762. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,000 shares of company stock worth $422,970. Insiders own 13.51% of the company’s stock.

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.