Cal-Maine Foods (NASDAQ:CALM) Announces Earnings Results

Cal-Maine Foods (NASDAQ:CALM) posted its earnings results on Tuesday. The basic materials company reported $3.06 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.30), Briefing.com reports. Cal-Maine Foods had a return on equity of 16.46% and a net margin of 11.94%. The business had revenue of $785.87 million during the quarter, compared to the consensus estimate of $704.65 million. During the same period in the prior year, the firm earned $0.02 earnings per share. The business’s revenue was up 71.1% on a year-over-year basis.

Cal-Maine Foods Stock Performance

CALM opened at $76.84 on Wednesday. The firm’s fifty day moving average is $71.21 and its two-hundred day moving average is $64.06. The firm has a market cap of $3.77 billion, a PE ratio of 13.62 and a beta of -0.10. Cal-Maine Foods has a twelve month low of $42.25 and a twelve month high of $77.11.

Cal-Maine Foods Cuts Dividend

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

Insider Activity at Cal-Maine Foods

In related news, COO Michael Todd Walters sold 3,000 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now directly owns 5,310 shares in the company, valued at $372,762. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director James E. Poole sold 1,500 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were 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 owns 10,170 shares of the company’s stock, valued at approximately $718,510.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Michael Todd Walters sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total value of $210,600.00. Following the completion of the transaction, the chief operating officer now directly owns 5,310 shares of the company’s stock, valued at approximately $372,762. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,000 shares of company stock valued at $422,970. 13.51% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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