Cal-Maine Foods, Inc. (NASDAQ:CALM) Announces Quarterly Dividend of $1.02

Cal-Maine Foods, Inc. (NASDAQ:CALM) announced a quarterly dividend on Tuesday, October 1st, Zacks reports. Investors of record on Wednesday, October 30th will be given a dividend of 1.02 per share by the basic materials company on Thursday, November 14th. This represents a $4.08 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Wednesday, October 30th. This is a positive change from Cal-Maine Foods’s previous quarterly dividend of $0.77.

Cal-Maine Foods has a payout ratio of 96.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

Cal-Maine Foods Trading Up 4.5 %

Shares of NASDAQ:CALM traded up $3.43 during trading on Thursday, reaching $78.84. The company had a trading volume of 333,579 shares, compared to its average volume of 604,783. The company has a fifty day moving average of $71.38 and a two-hundred day moving average of $64.14. The stock has a market capitalization of $3.87 billion, a P/E ratio of 13.37 and a beta of -0.10. Cal-Maine Foods has a 12 month low of $42.25 and a 12 month high of $78.97.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30). 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 period last year, the company posted $0.02 EPS. Cal-Maine Foods’s revenue for the quarter was up 71.1% on a year-over-year basis.

Insider Transactions at Cal-Maine Foods

In related news, VP Robert L. Holladay, Jr. sold 1,500 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total value of $106,395.00. Following the completion of the transaction, the vice president now directly owns 16,754 shares in the company, valued at approximately $1,188,361.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Robert L. Holladay, Jr. sold 1,500 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total value of $106,395.00. Following the completion of the transaction, the vice president now directly owns 16,754 shares in the company, valued at approximately $1,188,361.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michael Todd Walters sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total transaction of $210,600.00. Following the sale, 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. In the last ninety days, insiders sold 6,000 shares of company stock valued at $422,970. Company insiders own 13.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. 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. Stephens began coverage on shares of Cal-Maine Foods in a research report on Thursday. They set an “equal weight” rating and a $82.00 price target for the company.

About Cal-Maine Foods

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.