Cal-Maine Foods (NASDAQ:CALM – Get Rating) had its target price trimmed by Bank of America from $55.00 to $50.00 in a report issued on Wednesday morning, The Fly reports.
Several other analysts have also recently weighed in on the company. StockNews.com cut Cal-Maine Foods from a buy rating to a hold rating in a report on Thursday, September 15th. TheStreet raised Cal-Maine Foods from a c+ rating to an a rating in a report on Monday, August 22nd.
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Cal-Maine Foods Stock Performance
Shares of CALM opened at $60.53 on Wednesday. The stock's 50-day simple moving average is $55.07 and its 200 day simple moving average is $52.29. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 5.65 and a beta of -0.11. Cal-Maine Foods has a 52-week low of $34.29 and a 52-week high of $61.83.
Cal-Maine Foods (NASDAQ:CALM – Get Rating) last issued its quarterly earnings data on Tuesday, September 27th. The basic materials company reported $2.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.59. The business had revenue of $658.34 million for the quarter, compared to analysts' expectations of $617.40 million. Cal-Maine Foods had a return on equity of 12.85% and a net
margin of 7.40%. The firm's quarterly revenue was up 102.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.37) EPS. On average, research analysts forecast that Cal-Maine Foods will post 5.84 earnings per share for the current fiscal year.
Cal-Maine Foods Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 16th. Stockholders of record on Monday, August 1st were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, July 29th. 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 4.96%. Cal-Maine Foods's dividend payout ratio is 110.70%.
Hedge Funds Weigh In On Cal-Maine Foods
Several institutional investors have recently modified their holdings of the company. Captrust Financial Advisors increased its stake in shares of Cal-Maine Foods by 7.0% in the second quarter. Captrust Financial Advisors now owns 2,804 shares of the basic materials company's stock worth $139,000 after buying an additional 183 shares during the period. Eagle Bay Advisors LLC raised its stake in shares of Cal-Maine Foods by 34.5% during the second quarter. Eagle Bay Advisors LLC now owns 733 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 188 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Cal-Maine Foods by 1.2% during the first quarter. Allianz Asset Management GmbH now owns 20,969 shares of the basic materials company's stock worth $1,158,000 after purchasing an additional 241 shares during the period. Canvas Wealth Advisors LLC grew its stake in shares of Cal-Maine Foods by 1.0% in the second quarter. Canvas Wealth Advisors LLC now owns 25,591 shares of the basic materials company's stock worth $1,264,000 after purchasing an additional 244 shares during the last quarter. Finally, Keating Investment Counselors Inc. increased its holdings in Cal-Maine Foods by 0.3% during the 2nd quarter. Keating Investment Counselors Inc. now owns 74,608 shares of the basic materials company's stock valued at $3,686,000 after purchasing an additional 245 shares during the period. 78.64% of the stock is currently owned by institutional investors.
Cal-Maine Foods Company Profile
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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.
Further Reading
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