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

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) have earned an average rating of “Hold” from the five brokerages that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $94.1667.

Several brokerages have recently issued reports on CALM. BMO Capital Markets lowered their target price on shares of 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. Royal Bank Of Canada set a $100.00 target price on shares of Cal-Maine Foods in a report on Tuesday, May 26th. Stephens upped their target price on shares of Cal-Maine Foods from $85.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, March 18th. Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a report on Tuesday, May 26th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cal-Maine Foods in a report on Friday, March 27th.

Cal-Maine Foods Stock Down 0.7%

NASDAQ CALM opened at $77.73 on Friday. Cal-Maine Foods has a 52 week low of $71.92 and a 52 week high of $126.40. The stock has a market capitalization of $3.68 billion, a PE ratio of 5.42 and a beta of 0.26. The firm has a 50 day moving average of $76.84 and a two-hundred day moving average of $80.48.

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

Cal-Maine Foods Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were issued a $0.36 dividend. The ex-dividend date was Wednesday, April 29th. This represents a $1.44 annualized dividend and a dividend yield of 1.9%. Cal-Maine Foods’s dividend payout ratio is presently 9.97%.

Institutional Trading of Cal-Maine Foods

A number of large investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its stake in Cal-Maine Foods by 12.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,022 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 116 shares during the period. Xponance Inc. raised its position in Cal-Maine Foods by 3.4% during the 3rd quarter. Xponance Inc. now owns 3,694 shares of the basic materials company’s stock worth $348,000 after buying an additional 123 shares during the last quarter. MML Investors Services LLC raised its position in Cal-Maine Foods by 1.8% during the 4th quarter. MML Investors Services LLC now owns 7,428 shares of the basic materials company’s stock worth $591,000 after buying an additional 131 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in Cal-Maine Foods by 0.6% during the 4th quarter. Illinois Municipal Retirement Fund now owns 23,884 shares of the basic materials company’s stock worth $1,900,000 after buying an additional 131 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Cal-Maine Foods by 58.2% during the 3rd quarter. IFP Advisors Inc now owns 378 shares of the basic materials company’s stock worth $37,000 after buying an additional 139 shares during the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

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. 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.