CALM CAL-MAINE FOODS INC

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 4/4 quarters. Q3 2021: $1M, Q2 2021: $0M, Q1 2021: $0M, Q3 2020: $1M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $1M vs trailing avg $0M (+167%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Negative FCF ($-96M), buybacks not supported by cash flow

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 66,645 shares = 0.1% of 48,857,000 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

5 open-market purchases by 1 insiders

• Lombardo Keira L (Chief Strategy Officer) bought 267 shares at $92.37 on 2025-10-02
• Lombardo Keira L (Chief Strategy Officer) bought 110 shares at $92.39 on 2025-10-02
• Lombardo Keira L (Chief Strategy Officer) bought 1,823 shares at $92.40 on 2025-10-02
• Lombardo Keira L (Chief Strategy Officer) bought 500 shares at $92.22 on 2025-10-02
• Lombardo Keira L (Chief Strategy Officer) bought 100 shares at $92.18 on 2025-10-02

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 4 quarters and 5 insider purchases by 1 insiders (no calendar overlap, but both independently active)

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $0M in the last 90 days (net buying)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

No buyback-insider divergence detected