CALM Stock Buying Opportunity at this Price

Shares of Cal Maine Foods dropped more than 6% on Friday as the stock has seen two headline events move against it this week.

On Wednesday, Cal Maine stock traded ex-dividend.  The stocks’ dividend amounts to $1.49, a yield of 5.4%. That dividend is paid on a quarterly basis and reduces the stock price when paid by the amount of the dividend.

Also on Wednesday, SEC filings from Diversified Investment Strategies LLC reflected that the company had reduced its holdings of CALM stock.  Diversified investment strategies. Is not one of the top shareholders of Cal Maine Foods, Top institutional owners include iShares and Vanguard.

Cal-Maine shares have increased in popularity with investors over the last two years.

The company is the largest egg producer in the United States. That position puts Cal-Maine stock near the top of the list for investments that are considered “inflation fighting stocks”.  Wal-Mart and Costco are also considered among stocks in the same category.

Since June of 2023, the stock has increased in value by more than 150% while paying a dividend of 5% or more.

Today's pullback tested the $105.00 round number price as well as the stock’s bullish 50-day moving average.  Both technical features provided support for CALM stock, keeping the stock’s short-term bullish trend in place.  

Cal-Maine stock tested the same price last week following its outstanding earnings report.

With strong fundamentals and technical trends playing in its favor, Cal Maine remains in a long-term bull market trend with the price target of $130.

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