Brokerages Set Cal-Maine Foods, Inc. (NASDAQ:CALM) Price Target at $93.00

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) have received an average recommendation of “Hold” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $94.1667.

Several equities research analysts have commented on CALM shares. BMO Capital Markets dropped their price target on shares of Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cal-Maine Foods in a research report on Friday, March 27th. Stephens boosted their price target on shares of Cal-Maine Foods from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 18th. Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a research report on Tuesday. Finally, Royal Bank Of Canada set a $100.00 price target on shares of Cal-Maine Foods in a research report on Tuesday.

Cal-Maine Foods Stock Down 2.3%

Shares of NASDAQ CALM opened at $74.72 on Monday. Cal-Maine Foods has a fifty-two week low of $71.92 and a fifty-two week high of $126.40. The firm’s 50-day simple moving average is $77.28 and its 200 day simple moving average is $81.49. The stock has a market cap of $3.54 billion, a P/E ratio of 5.21 and a beta of 0.28.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings data on Wednesday, April 1st. The basic materials company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $666.95 million for the quarter, compared to analysts’ expectations of $655.82 million. During the same period in the previous year, the business earned $10.39 earnings per share. The company’s revenue was down 53.0% on a year-over-year basis.

Cal-Maine Foods Cuts Dividend

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

Hedge Funds Weigh In On Cal-Maine Foods

A number of institutional investors have recently bought and sold shares of CALM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Cal-Maine Foods by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,401 shares of the basic materials company’s stock worth $2,218,000 after buying an additional 1,057 shares during the period. NewEdge Advisors LLC raised its holdings in Cal-Maine Foods by 100.8% during the 1st quarter. NewEdge Advisors LLC now owns 7,985 shares of the basic materials company’s stock worth $726,000 after buying an additional 4,009 shares during the period. United Services Automobile Association acquired a new stake in Cal-Maine Foods during the 1st quarter worth about $245,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Cal-Maine Foods by 10.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,422 shares of the basic materials company’s stock worth $7,765,000 after buying an additional 7,736 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Cal-Maine Foods by 323.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,087 shares of the basic materials company’s stock worth $108,000 after buying an additional 830 shares during the period. Hedge funds and other institutional investors 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.