Cal-Maine Foods, Inc. (NASDAQ:CALM) Given Average Recommendation of “Hold” by Brokerages

Cal-Maine Foods, Inc. (NASDAQ:CALM) has earned an average recommendation of “Hold” from the five analysts that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $101.40.

A number of research firms have recently weighed in on CALM. Wall Street Zen cut shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Saturday, August 23rd. Lake Street Capital set a $97.00 target price on shares of Cal-Maine Foods in a research note on Friday, October 3rd. Benchmark initiated coverage on shares of Cal-Maine Foods in a report on Monday. They issued a “buy” rating and a $100.00 price target on the stock. The Goldman Sachs Group decreased their price objective on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, October 3rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Cal-Maine Foods in a research report on Monday, November 24th.

Insider Buying and Selling at Cal-Maine Foods

In other Cal-Maine Foods news, insider Keira L. Lombardo purchased 2,800 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were acquired at an average price of $92.36 per share, for a total transaction of $258,608.00. Following the completion of the purchase, the insider owned 3,738 shares of the company’s stock, valued at approximately $345,241.68. The trade was a 298.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.90% of the company’s stock.

Institutional Trading of Cal-Maine Foods

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Cal-Maine Foods by 0.8% during the first quarter. Vanguard Group Inc. now owns 4,945,681 shares of the basic materials company’s stock worth $449,562,000 after buying an additional 40,075 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Cal-Maine Foods by 2.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,052,171 shares of the basic materials company’s stock valued at $193,118,000 after acquiring an additional 39,669 shares during the period. State Street Corp increased its position in shares of Cal-Maine Foods by 6.8% in the 2nd quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock valued at $171,038,000 after acquiring an additional 108,578 shares during the period. American Century Companies Inc. raised its stake in Cal-Maine Foods by 3.5% in the 3rd quarter. American Century Companies Inc. now owns 1,618,491 shares of the basic materials company’s stock worth $152,300,000 after acquiring an additional 54,757 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Cal-Maine Foods by 7.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,095,246 shares of the basic materials company’s stock worth $109,132,000 after acquiring an additional 76,102 shares during the period. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Trading Up 0.4%

Shares of NASDAQ:CALM opened at $83.33 on Monday. The company has a market capitalization of $4.04 billion, a PE ratio of 3.20 and a beta of 0.21. Cal-Maine Foods has a 12-month low of $79.55 and a 12-month high of $126.40. The business’s fifty day simple moving average is $90.53 and its 200-day simple moving average is $99.43.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings data on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share for the quarter, missing analysts’ consensus estimates of $4.55 by ($0.43). Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The company had revenue of $922.60 million for the quarter, compared to the consensus estimate of $931.62 million. During the same period in the previous year, the business earned $3.06 EPS. Cal-Maine Foods’s revenue for the quarter was up 17.4% compared to the same quarter last year. Research analysts predict that Cal-Maine Foods will post 15.59 EPS for the current year.

Cal-Maine Foods Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend was Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 21.18%.

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.