Keating Investment Counselors Inc. Trims Holdings in Cal-Maine Foods Inc (CALM)

Keating Investment Counselors Inc. trimmed its position in shares of Cal-Maine Foods Inc (NASDAQ:CALM) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 137,120 shares of the basic materials company’s stock after selling 5,195 shares during the period. Cal-Maine Foods accounts for approximately 2.9% of Keating Investment Counselors Inc.’s portfolio, making the stock its 14th largest holding. Keating Investment Counselors Inc.’s holdings in Cal-Maine Foods were worth $6,623,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. NEXT Financial Group Inc bought a new position in shares of Cal-Maine Foods in the third quarter worth $133,000. First Quadrant L P CA bought a new position in shares of Cal-Maine Foods in the third quarter worth $161,000. NumerixS Investment Technologies Inc bought a new position in shares of Cal-Maine Foods in the second quarter worth $190,000. United Services Automobile Association bought a new position in shares of Cal-Maine Foods in the second quarter worth $208,000. Finally, Amalgamated Bank bought a new position in shares of Cal-Maine Foods in the second quarter worth $219,000. 59.32% of the stock is owned by hedge funds and other institutional investors.

Cal-Maine Foods stock opened at $48.72 on Wednesday. Cal-Maine Foods Inc has a one year low of $39.50 and a one year high of $52.30. The firm has a market capitalization of $2.30 billion, a PE ratio of 17.15 and a beta of 0.49.



Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings data on Monday, October 1st. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.23). Cal-Maine Foods had a return on equity of 18.99% and a net margin of 9.76%. The business had revenue of $340.60 million during the quarter, compared to analysts’ expectations of $346.76 million. During the same quarter last year, the business posted ($0.33) EPS. The company’s quarterly revenue was up 29.6% on a year-over-year basis. On average, research analysts anticipate that Cal-Maine Foods Inc will post 3.35 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be given a $0.085 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.70%. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 49.30%.

In related news, major shareholder Jean Morris Adams sold 40,149 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $44.95, for a total value of $1,804,697.55. Following the sale, the insider now owns 1,074,895 shares in the company, valued at $48,316,530.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Max P. Bowman acquired 2,000 shares of the stock in a transaction that occurred on Thursday, October 11th. The stock was acquired at an average price of $45.51 per share, for a total transaction of $91,020.00. Following the transaction, the chief financial officer now directly owns 2,000 shares of the company’s stock, valued at approximately $91,020. The disclosure for this purchase can be found here. Company insiders own 33.03% of the company’s stock.

CALM has been the subject of a number of analyst reports. BidaskClub raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Tuesday, August 14th. ValuEngine raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Stephens lowered Cal-Maine Foods from an “overweight” rating to an “equal weight” rating in a report on Monday, October 1st. Finally, Zacks Investment Research lowered Cal-Maine Foods from a “strong-buy” rating to a “hold” rating in a report on Friday, August 10th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $54.50.

Cal-Maine Foods Company Profile

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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Institutional Ownership by Quarter for Cal-Maine Foods (NASDAQ:CALM)

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