Cal-Maine Foods (NASDAQ:CALM) Reaches New 1-Year High at $75.58

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) reached a new 52-week high on Tuesday . The stock traded as high as $75.58 and last traded at $75.44, with a volume of 322750 shares trading hands. The stock had previously closed at $74.61.

Analysts Set New Price Targets

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

Cal-Maine Foods Trading Up 0.4 %

The company has a market cap of $3.67 billion, a price-to-earnings ratio of 13.05 and a beta of -0.10. The company’s 50 day moving average price is $70.05 and its 200 day moving average price is $63.40.

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

Cal-Maine Foods Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, August 5th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.11%. The ex-dividend date was Monday, August 5th. Cal-Maine Foods’s dividend payout ratio (DPR) is 54.61%.

Insider Transactions at Cal-Maine Foods

In related news, Director James E. Poole sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $70.65, for a total value of $105,975.00. Following the completion of the transaction, the director now directly owns 10,170 shares of the company’s stock, valued at approximately $718,510.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cal-Maine Foods news, Director James E. Poole sold 1,500 shares of Cal-Maine Foods stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $70.65, for a total transaction of $105,975.00. Following the completion of the transaction, the director now owns 10,170 shares in the company, valued at $718,510.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Michael Todd Walters sold 3,000 shares of Cal-Maine Foods stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $70.20, for a total value of $210,600.00. Following the transaction, the chief operating officer now owns 5,310 shares of the company’s stock, valued at $372,762. The disclosure for this sale can be found here. Insiders have sold 6,000 shares of company stock valued at $422,970 in the last quarter. 13.51% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CALM. Sanctuary Advisors LLC acquired a new position in shares of Cal-Maine Foods in the second quarter valued at approximately $368,000. Cetera Investment Advisers lifted its stake in shares of Cal-Maine Foods by 21.9% during the 2nd quarter. Cetera Investment Advisers now owns 17,554 shares of the basic materials company’s stock worth $1,073,000 after purchasing an additional 3,152 shares during the period. Truist Financial Corp boosted its holdings in shares of Cal-Maine Foods by 14.8% during the second quarter. Truist Financial Corp now owns 17,234 shares of the basic materials company’s stock worth $1,053,000 after purchasing an additional 2,218 shares during the last quarter. Regal Investment Advisors LLC grew its position in shares of Cal-Maine Foods by 3.9% in the second quarter. Regal Investment Advisors LLC now owns 5,404 shares of the basic materials company’s stock valued at $330,000 after purchasing an additional 203 shares during the period. Finally, Quarry LP lifted its position in Cal-Maine Foods by 1,975.0% during the second quarter. Quarry LP now owns 581 shares of the basic materials company’s stock worth $36,000 after buying an additional 553 shares during the period. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

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.