Cal-Maine Foods (NASDAQ:CALM) Posts Earnings Results, Misses Estimates By $0.30 EPS

Cal-Maine Foods (NASDAQ:CALM) released its quarterly earnings data on Tuesday. The basic materials company reported $3.06 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30), Briefing.com reports. Cal-Maine Foods had a net margin of 11.94% and a return on equity of 16.46%. The business had revenue of $785.87 million during the quarter, compared to analysts’ expectations of $704.65 million. During the same quarter in the previous year, the company posted $0.02 EPS. The company’s revenue was up 71.1% compared to the same quarter last year.

Cal-Maine Foods Price Performance

NASDAQ CALM opened at $76.84 on Wednesday. Cal-Maine Foods has a 1-year low of $42.25 and a 1-year high of $77.11. The company has a market capitalization of $3.77 billion, a P/E ratio of 13.62 and a beta of -0.10. The business has a 50 day moving average price of $71.21 and a 200 day moving average price of $64.06.

Cal-Maine Foods Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, August 5th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.08 dividend on an annualized basis and a yield of 4.01%. Cal-Maine Foods’s payout ratio is 54.61%.

Analyst Ratings Changes

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

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,500 shares of the firm’s stock in a transaction 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 transaction, the vice president now 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 accessible through this link. In other Cal-Maine Foods news, COO Michael Todd Walters sold 3,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $70.20, for a total transaction of $210,600.00. Following the transaction, the chief operating officer now owns 5,310 shares in the company, valued at $372,762. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Robert L. Holladay, Jr. sold 1,500 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total value of $106,395.00. Following the transaction, the vice president now owns 16,754 shares in the company, valued at approximately $1,188,361.22. The disclosure for this sale can be found here. Insiders sold 6,000 shares of company stock valued at $422,970 in the last ninety days. Corporate insiders own 13.51% of the company’s stock.

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.