Cal-Maine Foods (NASDAQ:CALM) Sets New 1-Year High at $73.35

Cal-Maine Foods, Inc. (NASDAQ:CALM) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $73.35 and last traded at $72.21, with a volume of 205279 shares traded. The stock had previously closed at $70.95.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upped their price objective on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the company a “sell” rating in a research note on Wednesday, July 17th.

Cal-Maine Foods Stock Up 1.0 %

The business has a 50-day moving average of $69.21 and a 200-day moving average of $62.94. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 12.81 and a beta of -0.10.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results on Tuesday, July 23rd. The basic materials company reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.41 by ($0.09). Cal-Maine Foods had a net margin of 11.94% and a return on equity of 16.46%. The firm had revenue of $640.80 million for the quarter, compared to analyst estimates of $652.32 million. During the same quarter in the prior year, the firm earned $2.27 earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year.

Cal-Maine Foods Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, August 5th were paid a dividend of $0.77 per share. The ex-dividend date was Monday, August 5th. This represents a $3.08 annualized dividend and a dividend yield of 4.30%. Cal-Maine Foods’s dividend payout ratio (DPR) is 54.61%.

Insider Activity

In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,500 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total transaction of $106,395.00. Following the transaction, the vice president now directly owns 16,754 shares of the company’s stock, valued at $1,188,361.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total transaction of $106,395.00. Following the completion of the sale, the vice president now owns 16,754 shares of the company’s stock, valued at $1,188,361.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Todd Walters sold 3,000 shares of Cal-Maine Foods stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total transaction of $210,600.00. Following the completion of the transaction, the chief operating officer now directly owns 5,310 shares in the company, valued at approximately $372,762. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,000 shares of company stock worth $422,970. 13.51% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cal-Maine Foods

Several hedge funds and other institutional investors have recently made changes to their positions in CALM. Verition Fund Management LLC grew its holdings in Cal-Maine Foods by 38.4% in the 4th quarter. Verition Fund Management LLC now owns 239,587 shares of the basic materials company’s stock valued at $13,750,000 after buying an additional 66,435 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Cal-Maine Foods by 65.7% in the 1st quarter. BNP Paribas Financial Markets now owns 55,362 shares of the basic materials company’s stock valued at $3,258,000 after purchasing an additional 21,956 shares during the period. SG Americas Securities LLC grew its position in Cal-Maine Foods by 362.8% in the 2nd quarter. SG Americas Securities LLC now owns 15,801 shares of the basic materials company’s stock worth $966,000 after purchasing an additional 12,387 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Cal-Maine Foods by 748.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 790,266 shares of the basic materials company’s stock worth $45,353,000 after purchasing an additional 697,170 shares during the period. Finally, Duality Advisers LP raised its position in shares of Cal-Maine Foods by 95.2% during the first quarter. Duality Advisers LP now owns 26,792 shares of the basic materials company’s stock valued at $1,577,000 after buying an additional 13,064 shares during the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

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.