Wedge Capital Management L L P NC Decreases Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Wedge Capital Management L L P NC decreased its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 28.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,361 shares of the basic materials company’s stock after selling 24,253 shares during the period. Wedge Capital Management L L P NC owned about 0.13% of Cal-Maine Foods worth $3,750,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. SG Americas Securities LLC raised its holdings in Cal-Maine Foods by 362.8% in the second quarter. SG Americas Securities LLC now owns 15,801 shares of the basic materials company’s stock valued at $966,000 after acquiring an additional 12,387 shares in the last quarter. QRG Capital Management Inc. grew its stake in shares of Cal-Maine Foods by 1.5% during the second quarter. QRG Capital Management Inc. now owns 37,659 shares of the basic materials company’s stock worth $2,301,000 after purchasing an additional 545 shares in the last quarter. Eldred Rock Partners LLC increased its holdings in Cal-Maine Foods by 4.2% in the second quarter. Eldred Rock Partners LLC now owns 139,122 shares of the basic materials company’s stock valued at $8,502,000 after buying an additional 5,591 shares during the last quarter. Linden Thomas Advisory Services LLC raised its stake in Cal-Maine Foods by 1.6% in the second quarter. Linden Thomas Advisory Services LLC now owns 22,119 shares of the basic materials company’s stock valued at $1,352,000 after buying an additional 355 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Cal-Maine Foods by 120.1% during the 2nd quarter. CWM LLC now owns 625 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Price Performance

Shares of CALM traded up $0.23 during midday trading on Thursday, reaching $70.50. 321,445 shares of the stock were exchanged, compared to its average volume of 620,338. Cal-Maine Foods, Inc. has a twelve month low of $42.25 and a twelve month high of $72.70. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 12.50 and a beta of -0.10. The business’s 50-day moving average price is $64.41 and its 200 day moving average price is $60.61.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings data on Tuesday, July 23rd. The basic materials company reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.41 by ($0.09). The firm 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%. Cal-Maine Foods’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.27 EPS.

Cal-Maine Foods Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, August 5th will be paid a $0.77 dividend. The ex-dividend date is Monday, August 5th. This represents a $3.08 dividend on an annualized basis and a yield of 4.37%. Cal-Maine Foods’s dividend payout ratio is presently 54.61%.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upped their price target on Cal-Maine Foods from $47.00 to $52.00 and gave the company a “sell” rating in a report on Wednesday, July 17th.

Insider Activity

In related news, Director James E. Poole sold 1,500 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is accessible through 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 completion of the sale, the director now directly owns 10,170 shares of the company’s stock, valued at approximately $718,510.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $210,600.00. Following the completion of the transaction, the chief operating officer now owns 5,310 shares in the company, valued at $372,762. The disclosure for this sale can be found here. Corporate 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.