Cal-Maine Foods Target of Unusually Large Options Trading (CALM)

Cal-Maine Foods Inc (NASDAQ:CALM) was the target of some unusual options trading activity on Tuesday. Investors purchased 4,517 put options on the company. This is an increase of 1,991% compared to the average daily volume of 216 put options.

In related news, CFO Max P. Bowman acquired 2,000 shares of the business’s stock in a transaction on Thursday, October 11th. The stock was acquired at an average cost of $45.51 per share, with a total value of $91,020.00. Following the acquisition, the chief financial officer now directly owns 2,000 shares in the company, valued at approximately $91,020. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 33.03% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. X Square Capital LLC grew its holdings in shares of Cal-Maine Foods by 5.5% in the third quarter. X Square Capital LLC now owns 20,073 shares of the basic materials company’s stock valued at $969,000 after purchasing an additional 1,038 shares in the last quarter. Garner Asset Management Corp lifted its position in Cal-Maine Foods by 4.0% in the third quarter. Garner Asset Management Corp now owns 28,577 shares of the basic materials company’s stock worth $1,380,000 after buying an additional 1,100 shares during the last quarter. Panagora Asset Management Inc. lifted its position in Cal-Maine Foods by 2.0% in the third quarter. Panagora Asset Management Inc. now owns 66,987 shares of the basic materials company’s stock worth $3,235,000 after buying an additional 1,334 shares during the last quarter. MetLife Investment Advisors LLC lifted its position in Cal-Maine Foods by 13.8% in the second quarter. MetLife Investment Advisors LLC now owns 14,364 shares of the basic materials company’s stock worth $659,000 after buying an additional 1,738 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Cal-Maine Foods by 2.7% in the second quarter. Rhumbline Advisers now owns 75,306 shares of the basic materials company’s stock worth $3,453,000 after buying an additional 1,999 shares during the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have issued reports on the stock. ValuEngine raised shares of Cal-Maine Foods from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 6th. Zacks Investment Research raised shares of Cal-Maine Foods from a “hold” rating to a “strong-buy” rating and set a $54.00 target price for the company in a report on Thursday, August 9th. Finally, BidaskClub lowered shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Friday, September 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $54.50.

CALM stock opened at $45.77 on Wednesday. Cal-Maine Foods has a fifty-two week low of $39.50 and a fifty-two week high of $52.30. The firm has a market capitalization of $2.27 billion, a P/E ratio of 16.12 and a beta of 0.39.

Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Monday, October 1st. The basic materials company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.23). Cal-Maine Foods had a net margin of 9.76% and a return on equity of 18.99%. The business had revenue of $340.60 million during the quarter, compared to analysts’ expectations of $346.76 million. During the same period last year, the business posted ($0.33) earnings per share. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Wednesday, October 31st were issued a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Tuesday, October 30th. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 11.97%.

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Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.

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