Raymond James Financial Services Advisors Inc. Trims Stake in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Raymond James Financial Services Advisors Inc. trimmed its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM – Free Report) by 47.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,873 shares of the basic materials company’s stock after selling 34,880 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.08% of Cal-Maine Foods worth $1,749,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CALM. Man Group plc boosted its holdings in Cal-Maine Foods by 3,503.9% in the 4th quarter. Man Group plc now owns 508,724 shares of the basic materials company’s stock worth $27,700,000 after buying an additional 494,608 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Cal-Maine Foods by 9.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,992,618 shares of the basic materials company’s stock valued at $277,540,000 after purchasing an additional 446,909 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Cal-Maine Foods by 64.3% during the 2nd quarter. Pacer Advisors Inc. now owns 982,524 shares of the basic materials company’s stock valued at $44,214,000 after purchasing an additional 384,378 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Cal-Maine Foods by 484.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 429,809 shares of the basic materials company’s stock valued at $4,202,000 after purchasing an additional 356,245 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Cal-Maine Foods by 28.1% during the 1st quarter. First Trust Advisors LP now owns 1,565,834 shares of the basic materials company’s stock valued at $95,344,000 after purchasing an additional 343,518 shares during the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

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Cal-Maine Foods Price Performance

Cal-Maine Foods stock opened at $45.09 on Wednesday. The firm has a market capitalization of $2.21 billion, a P/E ratio of 3.47, a price-to-earnings-growth ratio of 1.16 and a beta of -0.08. The company’s 50-day moving average is $47.33 and its 200 day moving average is $47.59. Cal-Maine Foods, Inc. has a 1-year low of $42.25 and a 1-year high of $65.32.

Cal-Maine Foods (NASDAQ:CALM – Get Free Report) last issued its earnings results on Tuesday, October 3rd. The basic materials company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.31). The company had revenue of $459.34 million for the quarter, compared to analysts’ expectations of $479.52 million. Cal-Maine Foods had a return on equity of 41.72% and a net margin of 21.50%. The business’s revenue was down 30.2% compared to the same quarter last year. During the same period last year, the business posted $2.57 earnings per share. Research analysts anticipate that Cal-Maine Foods, Inc. will post 2.37 earnings per share for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Wednesday, November 1st will be paid a dividend of $0.006 per share. The ex-dividend date is Tuesday, October 31st. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.05%. Cal-Maine Foods’s dividend payout ratio is presently 23.27%.

Wall Street Analysts Forecast Growth

CALM has been the topic of several recent research reports. The Goldman Sachs Group decreased their target price on shares of Cal-Maine Foods from $43.00 to $40.00 in a research report on Thursday, July 6th. Stephens restated an “equal weight” rating and set a $47.00 target price on shares of Cal-Maine Foods in a research report on Wednesday, October 4th. Finally, StockNews.com assumed coverage on shares of Cal-Maine Foods in a research report on Thursday, October 5th. They issued a “hold” rating on the stock.

Read Our Latest Research Report on Cal-Maine Foods

Cal-Maine Foods Company Profile

(Free Report)

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.

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