Microsoft shares jump after fourth-quarter earnings beat on AI-fueled cloud growth
RIDGELAND, Miss.—Adolphus Baker, Board Chair of Cal-Maine Foods Inc. (NASDAQ:CALM), executed significant stock sales on April 17, 2025, according to a recent SEC filing. The company, which maintains an excellent financial health score according to InvestingPro analysis and offers a substantial 15.11% dividend yield, saw Baker and his wife sell a substantial portion of their holdings during a secondary offering and through a stock repurchase agreement.
In total, Baker sold 140,266 shares directly, while his wife sold 1,147,350 shares indirectly. Both transactions were conducted at a price of $90.60 per share, slightly below InvestingPro’s calculated Fair Value, suggesting potential upside remains. The total value of these transactions amounted to approximately $116.7 million.
Following these sales, Baker directly holds 1,319,034 shares, while his wife’s holdings have been reduced to 230,570 shares. Additionally, there are indirect holdings by Baker and his wife through their respective KSOPs, amounting to 147,428 and 5,821 shares, respectively.
These transactions were part of an underwritten public offering and a stock repurchase agreement dated April 15, 2025. For further details, refer to the Schedule 13D/A Amendment No. 9 filed with the SEC.
In other recent news, Cal-Maine Foods reported third-quarter fiscal 2025 earnings that fell short of analyst expectations, with earnings per share at $10.38 against the anticipated $10.72. The company also recorded revenue of $1.42 billion, slightly under the forecasted $1.43 billion, but a significant increase from $703.1 million in the same quarter last year. Additionally, Cal-Maine Foods announced its agreement to acquire Echo Lake Foods for approximately $258 million, a transaction expected to close by the end of fiscal 2025. In terms of corporate governance, Cal-Maine Foods has made several structural changes, including amendments to its credit agreements and the appointment of Letitia C. Hughes as lead independent director. The company has also formalized indemnification agreements with its directors to protect against personal liability. Meanwhile, Stephens has significantly raised its earnings estimates for Cal-Maine Foods, projecting a third-quarter EPS of $10.75 and a full fiscal year 2025 EPS of $22.79, citing record-high egg prices driven by avian influenza. This optimistic outlook from Stephens comes despite recent price volatility in the egg market. Cal-Maine Foods has also declared a quarterly dividend of $3.46 per share and approved a $500 million share repurchase program.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.