Cal-Maine Foods (NASDAQ:CALM) Posts Earnings Results, Misses Expectations By $0.30 EPS

Cal-Maine Foods (NASDAQ:CALM) announced its quarterly earnings results on Tuesday. The basic materials company reported $3.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30), Briefing.com reports. Cal-Maine Foods had a net margin of 11.94% and a return on equity of 16.46%. The company had revenue of $785.87 million for the quarter, compared to analysts’ expectations of $704.65 million. During the same period in the previous year, the business earned $0.02 EPS. The business’s revenue was up 71.1% compared to the same quarter last year.

Cal-Maine Foods Trading Down 1.9 %

NASDAQ CALM opened at $75.41 on Thursday. Cal-Maine Foods has a 12 month low of $42.25 and a 12 month high of $77.11. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 13.37 and a beta of -0.10. The company’s 50 day moving average is $71.38 and its two-hundred day moving average is $64.14.

Cal-Maine Foods Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Wednesday, October 30th will be paid a dividend of $1.02 per share. This is a boost from Cal-Maine Foods’s previous quarterly dividend of $0.77. The ex-dividend date is Wednesday, October 30th. This represents a $4.08 dividend on an annualized basis and a yield of 5.41%. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 54.61%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CALM. The Goldman Sachs Group increased their price objective on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a research note on Wednesday, July 17th. Stephens began coverage on shares of Cal-Maine Foods in a research note on Thursday. They issued an “equal weight” rating and a $82.00 price objective on the stock.

Insiders Place Their Bets

In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total transaction of $106,395.00. Following the completion of the sale, the vice president now directly owns 16,754 shares of the company’s stock, valued at approximately $1,188,361.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total transaction of $106,395.00. Following the completion of the sale, the vice president now directly owns 16,754 shares of the company’s stock, valued at approximately $1,188,361.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Michael Todd Walters sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total transaction of $210,600.00. Following the sale, the chief operating officer now directly owns 5,310 shares of the company’s stock, valued at $372,762. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,000 shares of company stock worth $422,970. Company insiders own 13.51% 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.