Cal-Maine Foods (NASDAQ:CALM) Reaches New 12-Month High After Dividend Announcement

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s share price hit a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $68.58 and last traded at $67.89, with a volume of 226755 shares trading hands. The stock had previously closed at $64.83.

Analyst Ratings Changes

CALM has been the subject of several recent research reports. Stephens restated an “equal weight” rating and set a $65.00 price target on shares of Cal-Maine Foods in a research report on Wednesday, April 3rd. The Goldman Sachs Group upped their price target on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a research report on Wednesday, July 17th.

Cal-Maine Foods Stock Performance

The company’s 50 day moving average price is $61.29 and its 200-day moving average price is $58.98. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 12.60 and a beta of -0.10.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Tuesday, July 23rd. The basic materials company reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.41 by ($0.09). The business had revenue of $640.80 million during the quarter, compared to analyst estimates of $652.32 million. Cal-Maine Foods had a return on equity of 16.46% and a net margin of 11.94%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.27 EPS.

Hedge Funds Weigh In On Cal-Maine Foods

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Cal-Maine Foods by 0.5% in the first quarter. Vanguard Group Inc. now owns 4,795,570 shares of the basic materials company’s stock worth $282,219,000 after acquiring an additional 23,915 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Cal-Maine Foods by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,438,248 shares of the basic materials company’s stock worth $139,932,000 after acquiring an additional 92,588 shares in the last quarter. Nuance Investments LLC increased its position in shares of Cal-Maine Foods by 13.0% in the fourth quarter. Nuance Investments LLC now owns 1,771,205 shares of the basic materials company’s stock worth $101,649,000 after acquiring an additional 203,771 shares in the last quarter. Wasatch Advisors LP purchased a new position in shares of Cal-Maine Foods in the fourth quarter worth approximately $47,771,000. Finally, Balyasny Asset Management L.P. increased its position in shares of Cal-Maine Foods by 748.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 790,266 shares of the basic materials company’s stock worth $45,353,000 after acquiring an additional 697,170 shares in the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Company Profile

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.