Cal-Maine Foods, Inc. (NASDAQ:CALM) Short Interest Update

Cal-Maine Foods, Inc. (NASDAQ:CALM) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 1,840,000 shares, a decline of 12.4% from the August 15th total of 2,100,000 shares. Based on an average daily volume of 529,700 shares, the days-to-cover ratio is currently 3.5 days. Approximately 4.5% of the company’s shares are short sold.

Cal-Maine Foods Stock Up 1.2 %

Shares of NASDAQ:CALM traded up $0.84 during midday trading on Tuesday, hitting $70.95. The stock had a trading volume of 484,822 shares, compared to its average volume of 596,440. Cal-Maine Foods has a 12 month low of $42.25 and a 12 month high of $72.70. The company has a market cap of $3.48 billion, a P/E ratio of 12.61 and a beta of -0.10. The business’s 50-day simple moving average is $69.04 and its 200-day simple moving average is $62.83.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results on Tuesday, July 23rd. The basic materials company reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.41 by ($0.09). Cal-Maine Foods had a net margin of 11.94% and a return on equity of 16.46%. The business had revenue of $640.80 million for the quarter, compared to analyst estimates of $652.32 million. During the same period in the prior year, the business earned $2.27 EPS. The company’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 disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, August 5th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.08 annualized dividend and a yield of 4.34%. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 54.61%.

Insider Activity at Cal-Maine Foods

In other news, COO Michael Todd Walters sold 3,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total value of $210,600.00. Following the completion of the transaction, the chief operating officer now owns 5,310 shares of the company’s stock, valued at approximately $372,762. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Cal-Maine Foods news, COO Michael Todd Walters sold 3,000 shares of Cal-Maine Foods stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total value of $210,600.00. Following the transaction, the chief operating officer now owns 5,310 shares of the company’s stock, valued at $372,762. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Robert L. Holladay, Jr. sold 1,500 shares of the stock in a transaction 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 sale, the vice president now directly owns 16,754 shares of the company’s stock, valued at approximately $1,188,361.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,000 shares of company stock worth $422,970. 13.51% of the stock is currently owned by company insiders.

Institutional Trading of Cal-Maine Foods

Several hedge funds have recently added to or reduced their stakes in CALM. Hantz Financial Services Inc. bought a new position in Cal-Maine Foods during the 2nd quarter worth $25,000. Cape Investment Advisory Inc. bought a new position in Cal-Maine Foods during the fourth quarter worth about $32,000. Quarry LP raised its stake in Cal-Maine Foods by 1,975.0% in the 2nd quarter. Quarry LP now owns 581 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 553 shares in the last quarter. CWM LLC boosted its stake in shares of Cal-Maine Foods by 120.1% in the second quarter. CWM LLC now owns 625 shares of the basic materials company’s stock valued at $38,000 after buying an additional 341 shares during the period. Finally, TFO Wealth Partners LLC raised its stake in Cal-Maine Foods by 32,400.0% in the fourth quarter. TFO Wealth Partners LLC now owns 650 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 648 shares in the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upped their price target on 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 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.