Cal-Maine Foods, Inc. (NASDAQ:CALM) Given Average Rating of "Hold" by Analysts

Key Points

• Analysts give Cal‑Maine an average rating of Hold (four holds, one buy) with a 12‑month consensus price target of $93.00.
• Cal‑Maine reported $1.06 EPS, beating the $0.89 estimate, but revenue of $666.95 million was down 53.0% year‑over‑year and EPS collapsed from $10.39 in the prior‑year quarter.
• The company announced a reduced quarterly dividend of $0.36 (annualized $1.44, yield 1.9%), and the stock trades near $75 with a PE of 5.23 and a market cap of about $3.56 billion.

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Get Free Report) have received an average rating of "Hold" from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $93.00.

Several research firms have commented on CALM. BMO Capital Markets lowered their price objective on Cal-Maine Foods from $85.00 to $80.00 and set a "market perform" rating on the stock in a research report on Wednesday, March 25th. Weiss Ratings restated a "hold (c+)" rating on shares of Cal-Maine Foods in a research report on Friday, March 27th. Stephens upped their price objective on Cal-Maine Foods from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 18th. Finally, Benchmark restated a "buy" rating on shares of Cal-Maine Foods in a research report on Tuesday, March 3rd.

Institutional Investors Weigh In On Cal-Maine Foods

Hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its position in shares of Cal-Maine Foods by 12.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,022 shares of the basic materials company's stock valued at $101,000 after buying an additional 116 shares in the last quarter. Xponance Inc. lifted its position in shares of Cal-Maine Foods by 3.4% during the 3rd quarter. Xponance Inc. now owns 3,694 shares of the basic materials company's stock valued at $348,000 after buying an additional 123 shares in the last quarter. MML Investors Services LLC lifted its position in shares of Cal-Maine Foods by 1.8% during the 4th quarter. MML Investors Services LLC now owns 7,428 shares of the basic materials company's stock valued at $591,000 after buying an additional 131 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Cal-Maine Foods by 0.6% during the 4th quarter. Illinois Municipal Retirement Fund now owns 23,884 shares of the basic materials company's stock valued at $1,900,000 after buying an additional 131 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in shares of Cal-Maine Foods by 58.2% during the 3rd quarter. IFP Advisors Inc now owns 378 shares of the basic materials company's stock valued at $37,000 after buying an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company's stock.

Cal-Maine Foods Trading Down 2.9%

Shares of NASDAQ:CALM opened at $75.07 on Thursday. Cal-Maine Foods has a twelve month low of $71.92 and a twelve month high of $126.40. The company's 50 day moving average is $81.15 and its 200 day moving average is $83.31. The company has a market cap of $3.56 billion, a PE ratio of 5.23 and a beta of 0.32.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its quarterly earnings data on Wednesday, April 1st. The basic materials company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.89 by $0.17. Cal-Maine Foods had a return on equity of 26.05% and a net margin of 20.07%.The business had revenue of $666.95 million for the quarter, compared to analyst estimates of $655.82 million. During the same quarter in the prior year, the firm posted $10.39 EPS. The business's quarterly revenue was down 53.0% compared to the same quarter last year.

Cal-Maine Foods Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, April 29th. Cal-Maine Foods's dividend payout ratio is currently 9.90%.

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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.

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