Cal-Maine Foods (NASDAQ:CALM) Sets New 52-Week High at $60.00

Cal-Maine Foods, Inc. (NASDAQ:CALMGet Rating)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $60.00 and last traded at $59.59, with a volume of 9160 shares. The stock had previously closed at $58.22.

Analysts Set New Price Targets

A number of research firms recently weighed in on CALM. TheStreet raised shares of Cal-Maine Foods from a “c+” rating to an “a” rating in a research note on Monday, August 22nd. StockNews.com lowered shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Thursday, September 15th.

Cal-Maine Foods Stock Down 0.4 %

The firm has a market capitalization of $2.97 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 5.51 and a beta of -0.11. The company’s 50-day simple moving average is $54.63 and its 200 day simple moving average is $51.88.

Cal-Maine Foods (NASDAQ:CALMGet Rating) last released its quarterly earnings results on Tuesday, July 19th. The basic materials company reported $2.25 EPS for the quarter, beating the consensus estimate of $1.50 by $0.75. The business had revenue of $593.00 million during the quarter, compared to analyst estimates of $576.06 million. Cal-Maine Foods had a net margin of 7.40% and a return on equity of 12.85%. The company’s quarterly revenue was up 69.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.09) earnings per share. On average, sell-side analysts forecast that Cal-Maine Foods, Inc. will post 5.84 earnings per share for the current fiscal year.

Cal-Maine Foods Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 16th. Investors of record on Monday, August 1st were given a $0.75 dividend. This is a positive change from Cal-Maine Foods’s previous quarterly dividend of $0.03. This represents a $3.00 annualized dividend and a dividend yield of 4.95%. The ex-dividend date of this dividend was Friday, July 29th. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 110.70%.

Hedge Funds Weigh In On Cal-Maine Foods

Several hedge funds and other institutional investors have recently modified their holdings of CALM. Millennium Management LLC raised its position in shares of Cal-Maine Foods by 210.4% in the 2nd quarter. Millennium Management LLC now owns 978,201 shares of the basic materials company’s stock valued at $48,333,000 after purchasing an additional 663,081 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Cal-Maine Foods by 30.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,543,507 shares of the basic materials company’s stock valued at $76,265,000 after purchasing an additional 360,508 shares during the last quarter. Candlestick Capital Management LP raised its position in shares of Cal-Maine Foods by 300.0% in the 4th quarter. Candlestick Capital Management LP now owns 400,000 shares of the basic materials company’s stock valued at $14,796,000 after purchasing an additional 300,000 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Cal-Maine Foods in the 2nd quarter valued at approximately $14,487,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Cal-Maine Foods by 319.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 201,271 shares of the basic materials company’s stock valued at $9,945,000 after purchasing an additional 292,784 shares during the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

Cal-Maine Foods Company Profile

(Get Rating)

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, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, and 4-Grain brand names, as well as under private labels.

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