Range Financial Group LLC Has $2.83 Million Position in Cal-Maine Foods, Inc. $CALM

Range Financial Group LLC grew its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 1,274.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,122 shares of the basic materials company’s stock after buying an additional 27,930 shares during the period. Cal-Maine Foods accounts for about 1.0% of Range Financial Group LLC’s holdings, making the stock its 28th biggest holding. Range Financial Group LLC’s holdings in Cal-Maine Foods were worth $2,834,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc boosted its holdings in Cal-Maine Foods by 195.1% in the second quarter. IFP Advisors Inc now owns 239 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 158 shares during the last quarter. Sound Income Strategies LLC bought a new position in Cal-Maine Foods during the 3rd quarter worth approximately $32,000. Carolina Wealth Advisors LLC acquired a new position in shares of Cal-Maine Foods in the 3rd quarter worth approximately $47,000. AdvisorNet Financial Inc bought a new stake in shares of Cal-Maine Foods in the 2nd quarter valued at $54,000. Finally, Quarry LP boosted its stake in shares of Cal-Maine Foods by 1,470.5% in the 1st quarter. Quarry LP now owns 691 shares of the basic materials company’s stock valued at $63,000 after purchasing an additional 647 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CALM shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cal-Maine Foods in a report on Monday, December 22nd. Lake Street Capital set a $97.00 target price on Cal-Maine Foods in a research report on Friday, October 3rd. Benchmark began coverage on Cal-Maine Foods in a research note on Monday, December 1st. They set a “buy” rating and a $100.00 target price for the company. The Goldman Sachs Group lowered their target price on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, October 3rd. Finally, BMO Capital Markets cut their price target on Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating on the stock in a report on Friday, October 3rd. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $101.40.

Cal-Maine Foods Stock Performance

Shares of Cal-Maine Foods stock opened at $82.08 on Tuesday. Cal-Maine Foods, Inc. has a 52 week low of $79.55 and a 52 week high of $126.40. The stock has a 50 day moving average price of $86.56 and a two-hundred day moving average price of $97.77. The stock has a market capitalization of $3.98 billion, a PE ratio of 3.16 and a beta of 0.24.

Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share for the quarter, missing analysts’ consensus estimates of $4.55 by ($0.43). Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The firm had revenue of $922.60 million for the quarter, compared to analyst estimates of $931.62 million. During the same period in the previous year, the company earned $3.06 earnings per share. Cal-Maine Foods’s revenue for the quarter was up 17.4% compared to the same quarter last year. Research analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Cal-Maine Foods Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th were issued a dividend of $1.37 per share. The ex-dividend date was Wednesday, October 29th. This represents a $5.48 annualized dividend and a yield of 6.7%. Cal-Maine Foods’s dividend payout ratio is presently 21.18%.

Insider Buying and Selling at Cal-Maine Foods

In other Cal-Maine Foods news, insider Keira L. Lombardo acquired 2,800 shares of Cal-Maine Foods stock in a transaction dated Thursday, October 2nd. The stock was purchased at an average cost of $92.36 per share, for a total transaction of $258,608.00. Following the completion of the acquisition, the insider directly owned 3,738 shares of the company’s stock, valued at $345,241.68. This represents a 298.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.90% of the company’s stock.

Cal-Maine Foods Company 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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.