Cal-Maine Foods, Inc. (NASDAQ:CALM) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lowered its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 0.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 671,686 shares of the basic materials company’s stock after selling 1,273 shares during the period. William Blair Investment Management LLC owned about 1.37% of Cal-Maine Foods worth $41,047,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CALM. Hantz Financial Services Inc. purchased a new stake in shares of Cal-Maine Foods in the second quarter valued at approximately $25,000. Cape Investment Advisory Inc. acquired a new position in shares of Cal-Maine Foods during the 4th quarter worth $32,000. TFO Wealth Partners LLC grew its stake in shares of Cal-Maine Foods by 32,400.0% during the 4th 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. CWM LLC increased 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 in the last quarter. Finally, GAMMA Investing LLC boosted its holdings 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 in the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Cal-Maine Foods Stock Performance

Cal-Maine Foods stock opened at $69.38 on Friday. Cal-Maine Foods, Inc. has a fifty-two week low of $42.25 and a fifty-two week high of $72.70. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 12.30 and a beta of -0.10. The stock’s fifty day moving average is $68.89 and its two-hundred day moving average is $62.71.

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

Cal-Maine Foods Cuts Dividend

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

Insider Activity at Cal-Maine Foods

In other news, VP Robert L. Holladay, Jr. sold 1,500 shares of the business’s 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 $1,188,361.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Robert L. Holladay, Jr. sold 1,500 shares of Cal-Maine Foods stock in a transaction dated 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 in the company, valued at $1,188,361.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michael Todd Walters sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total transaction of $210,600.00. Following the completion of the transaction, the chief operating officer now directly owns 5,310 shares of the company’s stock, valued at approximately $372,762. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,000 shares of company stock valued at $422,970. 13.51% of the stock is owned by corporate 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.