Creative Planning Acquires 1,926 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Creative Planning grew its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 33.9% during the second quarter, HoldingsChannel reports. The firm owned 7,608 shares of the basic materials company’s stock after buying an additional 1,926 shares during the quarter. Creative Planning’s holdings in Cal-Maine Foods were worth $465,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC lifted its position in shares of Cal-Maine Foods by 3.9% in the 4th quarter. Fisher Asset Management LLC now owns 33,838 shares of the basic materials company’s stock worth $1,942,000 after purchasing an additional 1,284 shares during the period. Eldred Rock Partners LLC boosted its stake in Cal-Maine Foods by 1.0% during the 1st quarter. Eldred Rock Partners LLC now owns 133,531 shares of the basic materials company’s stock valued at $7,858,000 after purchasing an additional 1,314 shares during the last quarter. Hodges Capital Management Inc. raised its position in Cal-Maine Foods by 129.0% in the 1st quarter. Hodges Capital Management Inc. now owns 154,225 shares of the basic materials company’s stock valued at $9,076,000 after buying an additional 86,870 shares during the last quarter. MCF Advisors LLC purchased a new stake in shares of Cal-Maine Foods in the first quarter valued at about $46,000. Finally, AlphaMark Advisors LLC bought a new position in shares of Cal-Maine Foods during the 1st quarter worth approximately $312,000. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Trading Up 1.8 %

Shares of Cal-Maine Foods stock opened at $92.22 on Wednesday. The company’s 50-day moving average price is $74.46 and its 200-day moving average price is $65.93. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 16.35 and a beta of -0.10. Cal-Maine Foods, Inc. has a 12-month low of $44.30 and a 12-month high of $93.05.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings data on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share (EPS) 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 24.25% and a net margin of 16.09%. The company’s quarterly revenue was up 71.1% on a year-over-year basis. During the same quarter last year, the business posted $0.02 EPS.

Cal-Maine Foods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Wednesday, October 30th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 4.42%. This is a positive change from Cal-Maine Foods’s previous quarterly dividend of $0.77. The ex-dividend date is Wednesday, October 30th. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 72.16%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CALM shares. Stephens began coverage on shares of Cal-Maine Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price objective for the company. StockNews.com raised shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. Finally, The Goldman Sachs Group lifted their price objective on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the company 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 firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $70.65, for a total transaction of $105,975.00. Following the sale, the director now owns 10,170 shares of the company’s stock, valued at $718,510.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, 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 value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Poole sold 1,500 shares of the business’s stock in a transaction 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 owns 10,170 shares in the company, valued at $718,510.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,000 shares of company stock valued at $422,970. 13.51% of the stock is owned by insiders.

About Cal-Maine Foods

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.