Keating Investment Counselors Inc. Sells 860 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Keating Investment Counselors Inc. decreased its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,299 shares of the basic materials company’s stock after selling 860 shares during the quarter. Cal-Maine Foods makes up about 1.4% of Keating Investment Counselors Inc.’s investment portfolio, making the stock its 18th biggest holding. Keating Investment Counselors Inc.’s holdings in Cal-Maine Foods were worth $4,418,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. bought a new stake in Cal-Maine Foods during the second quarter worth $25,000. Cape Investment Advisory Inc. acquired a new position in shares of Cal-Maine Foods during the 4th quarter worth about $32,000. CWM LLC raised its holdings in shares of Cal-Maine Foods by 120.1% in the 2nd quarter. CWM LLC now owns 625 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 341 shares during the period. TFO Wealth Partners LLC grew its holdings in Cal-Maine Foods by 32,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 650 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 648 shares during the period. Finally, GAMMA Investing LLC increased its position in Cal-Maine Foods by 73.8% during the second quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock worth $41,000 after buying an additional 287 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling at Cal-Maine Foods

In other news, COO Michael Todd Walters sold 3,000 shares of Cal-Maine Foods 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 completion of the sale, the chief operating officer now owns 5,310 shares of the company’s stock, valued at $372,762. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,500 shares of Cal-Maine Foods stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total value of $106,395.00. Following the completion of the transaction, the vice president now directly owns 16,754 shares of the company’s stock, valued at approximately $1,188,361.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $210,600.00. Following the sale, the chief operating officer now directly owns 5,310 shares in the company, valued at $372,762. The disclosure for this sale can be found here. Insiders have sold a total of 6,000 shares of company stock valued at $422,970 in the last ninety days. 13.51% of the stock is currently owned by corporate insiders.

Cal-Maine Foods Price Performance

Shares of CALM opened at $69.01 on Friday. The company’s 50-day moving average is $68.21 and its 200-day moving average is $62.31. The firm has a market capitalization of $3.38 billion, a PE ratio of 12.24 and a beta of -0.10. Cal-Maine Foods, Inc. has a fifty-two week low of $42.25 and a fifty-two week high of $72.70.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results on Tuesday, July 23rd. The basic materials company reported $2.32 EPS for the quarter, missing analysts’ consensus estimates of $2.41 by ($0.09). The company had revenue of $640.80 million during the quarter, compared to analyst estimates of $652.32 million. Cal-Maine Foods had a net margin of 11.94% and a return on equity of 16.46%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the company posted $2.27 EPS.

Cal-Maine Foods Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, August 5th were issued a dividend of $0.77 per share. The ex-dividend date was Monday, August 5th. This represents a $3.08 annualized dividend and a yield of 4.46%. Cal-Maine Foods’s payout ratio is currently 54.61%.

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.