Nuance Investments LLC Reduces Stock Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Nuance Investments LLC trimmed its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 76.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 325,524 shares of the basic materials company’s stock after selling 1,055,319 shares during the period. Nuance Investments LLC owned about 0.66% of Cal-Maine Foods worth $19,893,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Main Street Financial Solutions LLC lifted its stake in shares of Cal-Maine Foods by 47.6% during the 2nd quarter. Main Street Financial Solutions LLC now owns 28,343 shares of the basic materials company’s stock worth $1,732,000 after purchasing an additional 9,145 shares during the period. Vest Financial LLC lifted its position in Cal-Maine Foods by 36.6% during the second quarter. Vest Financial LLC now owns 19,035 shares of the basic materials company’s stock worth $1,163,000 after buying an additional 5,101 shares during the period. American Century Companies Inc. boosted its stake in Cal-Maine Foods by 8.9% in the 2nd quarter. American Century Companies Inc. now owns 1,013,713 shares of the basic materials company’s stock worth $61,948,000 after buying an additional 82,772 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Cal-Maine Foods in the 2nd quarter valued at about $47,000. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Cal-Maine Foods during the 2nd quarter valued at about $86,000. 84.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Cal-Maine Foods Trading Up 0.4 %

Shares of CALM opened at $69.35 on Friday. Cal-Maine Foods, Inc. has a twelve month low of $42.25 and a twelve month high of $72.70. The firm has a market capitalization of $3.40 billion, a P/E ratio of 12.30 and a beta of -0.10. The stock’s fifty day simple moving average is $68.75 and its 200 day simple moving average is $62.60.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data 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). Cal-Maine Foods had a return on equity of 16.46% and a net margin of 11.94%. The firm had revenue of $640.80 million during the quarter, compared to analysts’ expectations of $652.32 million. During the same quarter last year, the business earned $2.27 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year.

Cal-Maine Foods Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, August 5th were issued a $0.77 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.08 annualized dividend and a yield of 4.44%. Cal-Maine Foods’s dividend payout ratio is currently 54.61%.

Insider Buying and Selling at Cal-Maine Foods

In related news, VP Robert L. Holladay, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total transaction of $106,395.00. Following the transaction, the vice president now directly owns 16,754 shares of the company’s stock, valued at approximately $1,188,361.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Robert L. Holladay, Jr. sold 1,500 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total transaction of $106,395.00. Following the completion of the sale, the vice president now directly owns 16,754 shares of the company’s stock, valued at approximately $1,188,361.22. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the chief operating officer now directly owns 5,310 shares in the company, valued at approximately $372,762. The disclosure for this sale can be found here. Insiders have sold 6,000 shares of company stock valued at $422,970 over the last three months. 13.51% of the stock is owned by company 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.