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

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) have been given an average recommendation of “Hold” by the five ratings firms that are presently covering the company, Marketbeat.com reports. Four 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 target among brokerages that have updated their coverage on the stock in the last year is $94.1667.

CALM has been the subject of a number of research reports. Royal Bank Of Canada set a $100.00 target price on shares of Cal-Maine Foods in a research note on Tuesday, May 26th. Stephens raised their target price on shares of Cal-Maine Foods from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 18th. Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a research note on Tuesday, May 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Cal-Maine Foods in a research note on Friday, March 27th. Finally, BMO Capital Markets cut 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 research note on Wednesday, March 25th.

Institutional Trading of Cal-Maine Foods

Hedge funds have recently modified their holdings of the stock. Pinnacle Holdings LLC acquired a new stake in Cal-Maine Foods in the 4th quarter worth about $30,000. WealthCollab LLC raised its stake in Cal-Maine Foods by 105.2% in the 4th quarter. WealthCollab LLC now owns 431 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 221 shares in the last quarter. IFP Advisors Inc raised its stake in Cal-Maine Foods by 58.2% in the 3rd quarter. IFP Advisors Inc now owns 378 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 139 shares in the last quarter. Signaturefd LLC raised its stake in Cal-Maine Foods by 46.5% in the 4th quarter. Signaturefd LLC now owns 488 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 155 shares in the last quarter. Finally, National Bank of Canada FI acquired a new stake in Cal-Maine Foods in the 3rd quarter worth about $42,000. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Price Performance

Shares of CALM opened at $78.24 on Friday. The firm has a 50-day moving average of $77.01 and a 200-day moving average of $80.29. Cal-Maine Foods has a one year low of $71.92 and a one year high of $126.40. The company has a market cap of $3.71 billion, a PE ratio of 5.45 and a beta of 0.26.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Wednesday, April 1st. The basic materials company reported $1.06 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 the consensus estimate of $655.82 million. Cal-Maine Foods had a net margin of 20.07% and a return on equity of 26.05%. The company’s quarterly revenue was down 53.0% on a year-over-year basis. During the same quarter last year, the firm posted $10.39 EPS.

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 paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Wednesday, April 29th. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 9.97%.

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.