Insider Selling: Cal-Maine Foods Inc (NASDAQ:CALM) Director Sells 2,500 Shares of Stock

Cal-Maine Foods Inc (NASDAQ:CALM) Director James E. Poole sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $42.76, for a total value of $106,900.00. Following the completion of the transaction, the director now directly owns 8,222 shares of the company’s stock, valued at $351,572.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of CALM stock opened at $42.42 on Friday. The company has a market cap of $2.07 billion, a PE ratio of 13.91 and a beta of 0.28. Cal-Maine Foods Inc has a 1-year low of $40.37 and a 1-year high of $52.30.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Monday, April 1st. The basic materials company reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.32. The business had revenue of $383.99 million during the quarter, compared to the consensus estimate of $385.49 million. Cal-Maine Foods had a return on equity of 15.09% and a net margin of 9.57%. The business’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.99 EPS. Research analysts anticipate that Cal-Maine Foods Inc will post 1.09 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.272 per share. This represents a $1.09 annualized dividend and a dividend yield of 2.56%. This is an increase from Cal-Maine Foods’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, April 30th. Cal-Maine Foods’s dividend payout ratio is presently 38.38%.

Hedge funds have recently made changes to their positions in the company. Karp Capital Management Corp acquired a new position in Cal-Maine Foods in the 4th quarter valued at $25,000. Meeder Asset Management Inc. raised its stake in Cal-Maine Foods by 67.3% in the 4th quarter. Meeder Asset Management Inc. now owns 994 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 400 shares during the last quarter. American Research & Management Co. raised its stake in Cal-Maine Foods by 200.0% in the 1st quarter. American Research & Management Co. now owns 1,500 shares of the basic materials company’s stock valued at $67,000 after purchasing an additional 1,000 shares during the last quarter. Intercontinental Wealth Advisors LLC acquired a new position in Cal-Maine Foods in the 4th quarter valued at $77,000. Finally, O Shaughnessy Asset Management LLC raised its stake in Cal-Maine Foods by 25.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,444 shares of the basic materials company’s stock valued at $103,000 after purchasing an additional 502 shares during the last quarter. 64.57% of the stock is owned by institutional investors and hedge funds.

CALM has been the subject of a number of analyst reports. ValuEngine raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Friday. Stephens initiated coverage on Cal-Maine Foods in a report on Monday, March 4th. They issued an “equal weight” rating for the company. Finally, BidaskClub raised Cal-Maine Foods from a “sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $47.00.

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About Cal-Maine Foods

Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.

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