Cal-Maine Foods (NASDAQ:CALM) Hits New 12-Month Low – Time to Sell?

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $79.24 and last traded at $79.9060, with a volume of 411851 shares. The stock had previously closed at $82.08.

Wall Street Analyst Weigh In

Several research firms have weighed in on CALM. Lake Street Capital set a $97.00 price objective on shares of Cal-Maine Foods in a research report on Friday, October 3rd. Stephens set a $95.00 price objective on shares of Cal-Maine Foods and gave the stock an “equal weight” rating in a research report on Tuesday. Benchmark initiated coverage on Cal-Maine Foods in a report on Monday, December 1st. They set a “buy” rating and a $100.00 price objective on the stock. The Goldman Sachs Group lowered their target price on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, October 3rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Cal-Maine Foods in a research report on Monday, December 22nd. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $97.40.

Cal-Maine Foods Trading Down 2.8%

The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 3.07 and a beta of 0.24. The business’s fifty day simple moving average is $86.56 and its 200 day simple moving average is $97.77.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Wednesday, October 1st. The basic materials company reported $4.12 EPS for the quarter, missing analysts’ consensus estimates of $4.55 by ($0.43). Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The company had revenue of $922.60 million during the quarter, compared to the consensus estimate of $931.62 million. During the same quarter in the prior year, the company posted $3.06 EPS. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Cal-Maine Foods Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th were paid a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend was Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio is presently 21.18%.

Insider Buying and Selling at Cal-Maine Foods

In other news, insider Keira L. Lombardo purchased 2,800 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was bought at an average price of $92.36 per share, with a total value of $258,608.00. Following the acquisition, the insider directly owned 3,738 shares of the company’s stock, valued at approximately $345,241.68. This represents a 298.51% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CALM. IFP Advisors Inc increased its holdings in shares of Cal-Maine Foods by 195.1% in the second quarter. IFP Advisors Inc now owns 239 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 158 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in Cal-Maine Foods during the 3rd quarter worth approximately $32,000. National Bank of Canada FI bought a new position in Cal-Maine Foods in the third quarter valued at approximately $42,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Cal-Maine Foods during the third quarter worth $47,000. Finally, AdvisorNet Financial Inc acquired a new position in Cal-Maine Foods in the 2nd quarter worth $54,000. 84.67% of the stock is owned by institutional investors and hedge funds.

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.