Cal-Maine Foods (CALM) to Release Earnings on Tuesday

Cal-Maine Foods (NASDAQ:CALM) is set to release its earnings data after the market closes on Tuesday, October 1st.

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

Cal-Maine Foods Price Performance

Shares of CALM opened at $74.61 on Tuesday. The stock has a 50-day moving average of $70.05 and a 200-day moving average of $63.40. The company has a market cap of $3.66 billion, a PE ratio of 13.23 and a beta of -0.10. Cal-Maine Foods has a one year low of $42.25 and a one year high of $75.47.

Cal-Maine Foods Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, August 5th were paid a $0.77 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.08 annualized dividend and a dividend yield of 4.13%. Cal-Maine Foods’s dividend payout ratio is presently 54.61%.

Insiders Place Their Bets

In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,500 shares of Cal-Maine Foods stock in a transaction that occurred 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 owns 16,754 shares of the company’s stock, valued at approximately $1,188,361.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Robert L. Holladay, Jr. sold 1,500 shares of Cal-Maine Foods stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total value of $106,395.00. Following the sale, the vice president now owns 16,754 shares of the company’s stock, valued at approximately $1,188,361.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $70.20, for a total transaction of $210,600.00. Following the completion of the sale, 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. Insiders have sold a total of 6,000 shares of company stock valued at $422,970 in the last 90 days. 13.51% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.