Cal-Maine Foods (NASDAQ:CALM) Reaches New 12-Month High – What’s Next?

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s stock price reached a new 52-week high on Monday . The company traded as high as $90.80 and last traded at $90.68, with a volume of 53691 shares. The stock had previously closed at $90.45.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CALM shares. Stephens began coverage on shares of Cal-Maine Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 target price for the company. The Goldman Sachs Group boosted their price objective on Cal-Maine Foods from $47.00 to $52.00 and gave the company a “sell” rating in a report on Wednesday, July 17th. Finally, StockNews.com raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Thursday, October 3rd.

Cal-Maine Foods Stock Performance

The stock has a market cap of $4.44 billion, a PE ratio of 16.06 and a beta of -0.10. The company has a 50 day moving average of $73.56 and a two-hundred day moving average of $65.47.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data on Tuesday, October 1st. The basic materials company reported $3.06 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30). Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The business had revenue of $785.87 million during the quarter, compared to analysts’ expectations of $704.65 million. During the same quarter last year, the firm earned $0.02 earnings per share. The firm’s quarterly revenue was up 71.1% compared to the same quarter last year.

Cal-Maine Foods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Wednesday, October 30th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 4.51%. This is an increase 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 presently 72.16%.

Insider Transactions at Cal-Maine Foods

In related 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 transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,500 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total value of $106,395.00. Following the transaction, the vice president now owns 16,754 shares in the company, valued at approximately $1,188,361.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Michael Todd Walters sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,000 shares of company stock valued at $422,970 over the last 90 days. Corporate insiders own 13.51% of the company’s stock.

Institutional Investors Weigh In On Cal-Maine Foods

A number of large investors have recently made changes to their positions in CALM. Hantz Financial Services Inc. acquired a new position in Cal-Maine Foods during the second quarter worth $25,000. Hexagon Capital Partners LLC boosted its position in shares of Cal-Maine Foods by 57.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 155 shares during the last quarter. Quarry LP grew its holdings in shares of Cal-Maine Foods by 1,975.0% in the second quarter. Quarry LP now owns 581 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 553 shares during the period. CWM LLC increased its position in Cal-Maine Foods by 120.1% during the second quarter. CWM LLC now owns 625 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 341 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Cal-Maine Foods by 73.8% during the second quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 287 shares during the last quarter. 84.67% of the stock is currently owned by hedge funds and other 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.