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

Cal-Maine Foods (NASDAQ:CALM) issued its quarterly earnings results on Tuesday. The basic materials company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.55, Briefing.com reports. Cal-Maine Foods had a return on equity of 17.06% and a net margin of 11.61%. The firm had revenue of $703.08 million for the quarter, compared to analyst estimates of $692.35 million. During the same period in the previous year, the company posted $6.62 earnings per share. The business’s revenue was down 29.5% on a year-over-year basis.

Cal-Maine Foods Trading Up 0.7 %

Cal-Maine Foods stock traded up $0.42 during midday trading on Thursday, hitting $61.46. 410,206 shares of the stock were exchanged, compared to its average volume of 648,729. The stock’s 50-day simple moving average is $57.77 and its 200 day simple moving average is $52.99. Cal-Maine Foods has a fifty-two week low of $42.25 and a fifty-two week high of $63.14. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 10.90 and a beta of -0.06.

Cal-Maine Foods Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Wednesday, May 1st will be given a dividend of $1.00 per share. This is a boost from Cal-Maine Foods’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $4.00 annualized dividend and a dividend yield of 6.51%. Cal-Maine Foods’s payout ratio is presently 8.16%.

Wall Street Analysts Forecast Growth

Separately, Stephens reiterated an “equal weight” rating and issued a $65.00 price objective on shares of Cal-Maine Foods in a report on Wednesday.

Insider Buying and Selling at Cal-Maine Foods

In related news, Director Letitia Callender Hughes sold 1,020 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $56.73, for a total value of $57,864.60. Following the transaction, the director now directly owns 43,570 shares in the company, valued at $2,471,726.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cal-Maine Foods news, Director James E. Poole sold 3,000 shares of Cal-Maine Foods stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $55.91, for a total transaction of $167,730.00. Following the completion of the sale, the director now directly owns 11,670 shares in the company, valued at $652,469.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Letitia Callender Hughes sold 1,020 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $56.73, for a total transaction of $57,864.60. Following the completion of the transaction, the director now owns 43,570 shares in the company, valued at $2,471,726.10. The disclosure for this sale can be found here. Insiders have sold 9,228 shares of company stock worth $520,122 in the last ninety days. 13.51% of the stock is owned by insiders.

Institutional Trading of Cal-Maine Foods

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cerity Partners LLC acquired a new stake in shares of Cal-Maine Foods in the first quarter valued at $364,000. US Bancorp DE increased its stake in Cal-Maine Foods by 39.1% during the first quarter. US Bancorp DE now owns 1,095 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 308 shares during the period. Quarry LP lifted its position in shares of Cal-Maine Foods by 99.6% during the first quarter. Quarry LP now owns 1,371 shares of the basic materials company’s stock worth $83,000 after purchasing an additional 684 shares in the last quarter. Fortis Capital Advisors LLC acquired a new stake in shares of Cal-Maine Foods during the fourth quarter worth about $109,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Cal-Maine Foods in the first quarter valued at approximately $134,000. Hedge funds and other institutional investors own 84.67% 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.