Cal-Maine Foods, Inc. (NASDAQ:CALM) Given Average Rating of “Hold” by Brokerages

Cal-Maine Foods, Inc. (NASDAQ:CALM) has been assigned an average recommendation of “Hold” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $93.00.

A number of analysts have recently issued reports on CALM shares. Weiss Ratings restated a “hold (c+)” rating on shares of Cal-Maine Foods in a report on Friday, March 27th. BMO Capital Markets reduced their target price on Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating for the company in a report on Wednesday, March 25th. Stephens increased their target price on Cal-Maine Foods from $85.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, March 18th. Finally, Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a report on Tuesday, March 3rd.

Institutional Trading of Cal-Maine Foods

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its holdings in shares of Cal-Maine Foods by 21.9% during the first quarter. Bank of America Corp DE now owns 505,359 shares of the basic materials company’s stock worth $39,999,000 after acquiring an additional 90,779 shares in the last quarter. Edgestream Partners L.P. raised its holdings in shares of Cal-Maine Foods by 64.4% during the first quarter. Edgestream Partners L.P. now owns 154,627 shares of the basic materials company’s stock worth $12,239,000 after acquiring an additional 60,558 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Cal-Maine Foods by 68.8% during the first quarter. Janus Henderson Group PLC now owns 353,751 shares of the basic materials company’s stock worth $27,997,000 after acquiring an additional 144,140 shares in the last quarter. Amundi raised its holdings in shares of Cal-Maine Foods by 101.3% during the first quarter. Amundi now owns 12,314 shares of the basic materials company’s stock worth $975,000 after acquiring an additional 6,196 shares in the last quarter. Finally, Parvin Asset Management LLC raised its holdings in shares of Cal-Maine Foods by 26.5% during the first quarter. Parvin Asset Management LLC now owns 3,435 shares of the basic materials company’s stock worth $272,000 after acquiring an additional 720 shares in the last quarter. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Cal-Maine Foods Price Performance

CALM opened at $77.01 on Monday. The stock has a fifty day moving average of $78.37 and a 200-day moving average of $81.88. The firm has a market capitalization of $3.65 billion, a P/E ratio of 5.37 and a beta of 0.28. Cal-Maine Foods has a 12-month low of $71.92 and a 12-month high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Wednesday, April 1st. The basic materials company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.17. The company had revenue of $666.95 million during the quarter, compared to analyst estimates of $655.82 million. Cal-Maine Foods had a return on equity of 26.05% and a net margin of 20.07%.The company’s revenue for the quarter was down 53.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.39 earnings per share.

Cal-Maine Foods Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Wednesday, April 29th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, April 29th. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 9.97%.

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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.