Cal-Maine Foods (NASDAQ:CALM) Issues Quarterly Earnings Results, Beats Expectations By $0.55 EPS

Cal-Maine Foods (NASDAQ:CALM) announced its quarterly earnings results on Tuesday. The basic materials company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.55, Briefing.com reports. Cal-Maine Foods had a return on equity of 17.06% and a net margin of 11.61%. The firm had revenue of $703.08 million during the quarter, compared to the consensus estimate of $692.35 million. During the same period in the prior year, the company posted $6.62 earnings per share. The firm’s quarterly revenue was down 29.5% compared to the same quarter last year.

Cal-Maine Foods Trading Up 3.6 %

Shares of NASDAQ CALM opened at $61.04 on Thursday. The stock has a market cap of $2.99 billion, a P/E ratio of 10.82 and a beta of -0.06. Cal-Maine Foods has a twelve month low of $42.25 and a twelve month high of $63.14. The stock has a 50 day moving average of $57.77 and a two-hundred day moving average of $52.99.

Cal-Maine Foods Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Wednesday, May 1st will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 6.55%. The ex-dividend date is Tuesday, April 30th. This is an increase from Cal-Maine Foods’s previous quarterly dividend of $0.12. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 8.16%.

Wall Street Analysts Forecast Growth

Separately, Stephens restated an “equal weight” rating and issued a $65.00 target price on shares of Cal-Maine Foods in a report on Wednesday.

Insider Transactions at Cal-Maine Foods

In other Cal-Maine Foods news, Director James E. Poole sold 3,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $55.91, for a total transaction of $167,730.00. Following the transaction, the director now directly owns 11,670 shares of the company’s stock, valued at approximately $652,469.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cal-Maine Foods news, Director James E. Poole sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $55.91, for a total transaction of $167,730.00. Following the completion of the sale, the director now directly owns 11,670 shares of the company’s stock, valued at approximately $652,469.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Letitia Callender Hughes sold 1,020 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $56.73, for a total value of $57,864.60. Following the completion of the transaction, the director now directly owns 43,570 shares in the company, valued at approximately $2,471,726.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,228 shares of company stock worth $520,122. Insiders own 13.51% of the company’s stock.

Institutional Trading of Cal-Maine Foods

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Cal-Maine Foods by 0.8% in the first quarter. BlackRock Inc. now owns 6,199,712 shares of the basic materials company’s stock valued at $342,347,000 after buying an additional 48,222 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Cal-Maine Foods by 9.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,992,618 shares of the basic materials company’s stock worth $277,540,000 after purchasing an additional 446,909 shares during the period. Millennium Management LLC grew its stake in shares of Cal-Maine Foods by 2.9% during the 4th quarter. Millennium Management LLC now owns 1,604,025 shares of the basic materials company’s stock worth $87,339,000 after purchasing an additional 45,771 shares during the period. First Trust Advisors LP increased its holdings in shares of Cal-Maine Foods by 28.1% in the 1st quarter. First Trust Advisors LP now owns 1,565,834 shares of the basic materials company’s stock valued at $95,344,000 after purchasing an additional 343,518 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Cal-Maine Foods by 3.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,553,571 shares of the basic materials company’s stock valued at $85,783,000 after purchasing an additional 58,004 shares during the period. Institutional investors and hedge funds own 84.67% of the company’s stock.

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.