Cal-Maine Foods (NASDAQ:CALM) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a hold rating to a buy rating in a research note issued to investors on Thursday.

Other equities research analysts have also recently issued research reports about the stock. Stephens initiated coverage on shares of Cal-Maine Foods in a research report on Thursday. They set an equal weight rating and a $82.00 price target for the company. The Goldman Sachs Group increased their price target on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the company a sell rating in a research report on Wednesday, July 17th.

Cal-Maine Foods Stock Performance

CALM stock opened at $84.57 on Thursday. Cal-Maine Foods has a 52 week low of $43.50 and a 52 week high of $84.67. The firm’s fifty day moving average is $71.82 and its 200 day moving average is $64.44. The firm has a market cap of $4.15 billion, a P/E ratio of 14.99 and a beta of -0.10.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.30). The firm had revenue of $785.87 million for the quarter, compared to analysts’ expectations of $704.65 million. Cal-Maine Foods had a net margin of 11.94% and a return on equity of 16.46%. The company’s quarterly revenue was up 71.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 EPS.

Cal-Maine Foods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Wednesday, October 30th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 4.82%. This is a boost from Cal-Maine Foods’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Wednesday, October 30th. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 72.16%.

Insider Transactions at Cal-Maine Foods

In other news, VP Robert L. Holladay, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Michael Todd Walters sold 3,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total value of $210,600.00. Following the completion of the transaction, the chief operating officer now directly owns 5,310 shares in the company, valued at $372,762. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert L. Holladay, Jr. sold 1,500 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total transaction of $106,395.00. Following the completion of the transaction, the vice president now owns 16,754 shares of the company’s stock, valued at approximately $1,188,361.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,000 shares of company stock valued at $422,970. Company insiders own 13.51% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Verition Fund Management LLC increased its stake in Cal-Maine Foods by 38.4% during the 4th quarter. Verition Fund Management LLC now owns 239,587 shares of the basic materials company’s stock valued at $13,750,000 after purchasing an additional 66,435 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Cal-Maine Foods by 65.7% during the 1st quarter. BNP Paribas Financial Markets now owns 55,362 shares of the basic materials company’s stock valued at $3,258,000 after purchasing an additional 21,956 shares in the last quarter. SG Americas Securities LLC increased its stake in Cal-Maine Foods by 362.8% during the 2nd quarter. SG Americas Securities LLC now owns 15,801 shares of the basic materials company’s stock valued at $966,000 after purchasing an additional 12,387 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in Cal-Maine Foods by 748.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 790,266 shares of the basic materials company’s stock valued at $45,353,000 after purchasing an additional 697,170 shares in the last quarter. Finally, Duality Advisers LP increased its stake in Cal-Maine Foods by 95.2% during the 1st quarter. Duality Advisers LP now owns 26,792 shares of the basic materials company’s stock valued at $1,577,000 after purchasing an additional 13,064 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors.

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.