StockNews.com Upgrades Cal-Maine Foods (NASDAQ:CALM) to “Buy”

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

CALM has been the subject of a number of other reports. Stephens began 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 raised their target price on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the stock a sell rating in a report on Wednesday, July 17th.

Cal-Maine Foods Price Performance

Shares of CALM opened at $84.57 on Thursday. The firm has a market capitalization of $4.15 billion, a PE ratio of 14.99 and a beta of -0.10. The company’s fifty day moving average price is $71.82 and its 200-day moving average price is $64.42. Cal-Maine Foods has a 1-year low of $43.50 and a 1-year high of $84.67.

Cal-Maine Foods (NASDAQ:CALM) last posted 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). Cal-Maine Foods had a net margin of 11.94% and a return on equity of 16.46%. The firm had revenue of $785.87 million for the quarter, compared to analysts’ expectations of $704.65 million. During the same quarter in the previous year, the firm posted $0.02 EPS. The firm’s revenue for the quarter was up 71.1% compared to the same quarter last year.

Cal-Maine Foods Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Wednesday, October 30th will be given a dividend of $1.02 per share. This is a boost from Cal-Maine Foods’s previous quarterly dividend of $0.77. This represents a $4.08 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Wednesday, October 30th. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 54.61%.

Insiders Place Their Bets

In related news, COO Michael Todd Walters sold 3,000 shares of the firm’s 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 sale, the chief operating officer now owns 5,310 shares in the company, valued at approximately $372,762. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Michael Todd Walters sold 3,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was 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 owns 5,310 shares of the company’s stock, valued at approximately $372,762. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the director now directly owns 10,170 shares in the company, valued at approximately $718,510.50. 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 90 days, insiders have sold 6,000 shares of company stock worth $422,970. Corporate insiders own 13.51% of the company’s stock.

Hedge Funds Weigh In On Cal-Maine Foods

A number of large investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. purchased a new stake in shares of Cal-Maine Foods during the second quarter worth about $25,000. Quarry LP increased its stake in Cal-Maine Foods by 1,975.0% during the 2nd quarter. Quarry LP now owns 581 shares of the basic materials company’s stock worth $36,000 after buying an additional 553 shares in the last quarter. TFO Wealth Partners LLC increased its stake in Cal-Maine Foods by 32,400.0% during the 4th quarter. TFO Wealth Partners LLC now owns 650 shares of the basic materials company’s stock worth $37,000 after buying an additional 648 shares in the last quarter. CWM LLC raised its holdings in shares of Cal-Maine Foods by 120.1% during the second quarter. CWM LLC now owns 625 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 341 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Cal-Maine Foods by 73.8% in the second quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 287 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

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.