Bank of Montreal Can Decreases Stock Holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Bank of Montreal Can lowered its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 5.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,396 shares of the basic materials company’s stock after selling 591 shares during the quarter. Bank of Montreal Can’s holdings in Cal-Maine Foods were worth $636,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of 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 valued at $282,219,000 after acquiring an additional 23,915 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Cal-Maine Foods by 4.6% during 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 during the period. Renaissance Technologies LLC lifted its stake in shares of Cal-Maine Foods by 5.5% in the 2nd quarter. Renaissance Technologies LLC now owns 2,115,624 shares of the basic materials company’s stock valued at $129,286,000 after purchasing an additional 110,900 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Cal-Maine Foods by 8.9% in the 2nd quarter. American Century Companies Inc. now owns 1,013,713 shares of the basic materials company’s stock worth $61,948,000 after purchasing an additional 82,772 shares during the period. Finally, Wasatch Advisors LP bought a new position in shares of Cal-Maine Foods during the 4th quarter valued at approximately $47,771,000. 84.67% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Michael Todd Walters sold 3,000 shares of Cal-Maine Foods stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 5,310 shares of the company’s stock, valued at approximately $372,762. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Michael Todd Walters sold 3,000 shares of the stock in a transaction 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 transaction, the chief operating officer now owns 5,310 shares of the company’s stock, valued at approximately $372,762. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert L. Holladay, Jr. sold 1,500 shares of the firm’s stock in a transaction on 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 owns 16,754 shares in the company, valued at approximately $1,188,361.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,000 shares of company stock worth $422,970 in the last three months. Corporate insiders own 13.51% of the company’s stock.

Cal-Maine Foods Stock Performance

Shares of CALM stock opened at $87.40 on Wednesday. The stock has a 50 day moving average price of $72.46 and a 200 day moving average price of $64.82. Cal-Maine Foods, Inc. has a 52-week low of $44.30 and a 52-week high of $87.89. The firm has a market capitalization of $4.29 billion, a P/E ratio of 15.50 and a beta of -0.10.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30). The business had revenue of $785.87 million during the quarter, compared to analysts’ expectations of $704.65 million. Cal-Maine Foods had a return on equity of 16.46% and a net margin of 11.94%. The business’s revenue for the quarter was up 71.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.02 EPS.

Cal-Maine Foods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Wednesday, October 30th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 4.67%. This is a boost from Cal-Maine Foods’s previous quarterly dividend of $0.77. The ex-dividend date is Wednesday, October 30th. Cal-Maine Foods’s payout ratio is 72.16%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CALM. StockNews.com upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. Stephens began coverage on shares of Cal-Maine Foods in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 target price on the stock. Finally, The Goldman Sachs Group lifted 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 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.