Cal-Maine Foods (NASDAQ:CALM) Announces Earnings Results

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

Cal-Maine Foods Price Performance

Shares of CALM opened at $75.41 on Thursday. The firm has a 50 day simple moving average of $71.38 and a two-hundred day simple moving average of $64.14. Cal-Maine Foods has a one year low of $42.25 and a one year high of $77.11. The company has a market cap of $3.70 billion, a P/E ratio of 13.37 and a beta of -0.10.

Cal-Maine Foods Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, August 5th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend was Monday, August 5th. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 54.61%.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upped 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 note on Wednesday, July 17th.

Insider Buying and Selling

In related news, Director James E. Poole sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $70.65, for a total value of $105,975.00. Following the completion of the transaction, the director now owns 10,170 shares in the company, valued at approximately $718,510.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, COO Michael Todd Walters sold 3,000 shares of Cal-Maine Foods stock in a transaction 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 completion of the transaction, the chief operating officer now owns 5,310 shares of the company’s stock, valued at $372,762. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director James E. Poole sold 1,500 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $70.65, for a total transaction of $105,975.00. Following the sale, the director now directly owns 10,170 shares in the company, valued at approximately $718,510.50. The disclosure for this sale can be found here. Insiders sold a total of 6,000 shares of company stock worth $422,970 in the last ninety days. 13.51% of the stock is owned by insiders.

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.