Cal-Maine Foods (CALM) Sets New 1-Year Low at $40.50

Cal-Maine Foods Inc (NASDAQ:CALM)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $40.50 and last traded at $40.59, with a volume of 6849 shares. The stock had previously closed at $41.09.

A number of brokerages recently issued reports on CALM. Stephens began coverage on Cal-Maine Foods in a report on Monday, March 4th. They issued an “equal weight” rating for the company. TheStreet lowered Cal-Maine Foods from a “b-” rating to a “c+” rating in a report on Friday, December 28th. ValuEngine lowered Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Monday, January 7th. Finally, BidaskClub lowered Cal-Maine Foods from a “hold” rating to a “sell” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $47.00.

The firm has a market capitalization of $1.99 billion, a PE ratio of 14.39 and a beta of 0.32.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings data on Monday, April 1st. The basic materials company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.32. Cal-Maine Foods had a return on equity of 15.09% and a net margin of 9.57%. The business had revenue of $383.99 million during the quarter, compared to analyst estimates of $385.49 million. During the same period in the prior year, the company posted $1.99 EPS. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. Sell-side analysts anticipate that Cal-Maine Foods Inc will post 1.09 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Wednesday, May 1st will be issued a $0.272 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Tuesday, April 30th. Cal-Maine Foods’s dividend payout ratio (DPR) is 21.13%.

In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,200 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $41.61, for a total transaction of $49,932.00. Following the completion of the transaction, the vice president now directly owns 10,690 shares of the company’s stock, valued at approximately $444,810.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James E. Poole sold 2,500 shares of the stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $42.76, for a total value of $106,900.00. Following the transaction, the director now directly owns 8,222 shares of the company’s stock, valued at $351,572.72. The disclosure for this sale can be found here. Company insiders own 33.03% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc boosted its stake in shares of Cal-Maine Foods by 10.2% during the 3rd quarter. Legal & General Group Plc now owns 71,513 shares of the basic materials company’s stock worth $3,438,000 after acquiring an additional 6,629 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Cal-Maine Foods by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,017,321 shares of the basic materials company’s stock worth $49,136,000 after acquiring an additional 17,249 shares in the last quarter. Standard Life Aberdeen plc boosted its stake in shares of Cal-Maine Foods by 15.2% during the 3rd quarter. Standard Life Aberdeen plc now owns 1,167,843 shares of the basic materials company’s stock worth $56,407,000 after acquiring an additional 154,184 shares in the last quarter. Martingale Asset Management L P bought a new stake in shares of Cal-Maine Foods during the 3rd quarter worth $503,000. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Cal-Maine Foods by 82.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 18,130 shares of the basic materials company’s stock worth $767,000 after acquiring an additional 8,179 shares in the last quarter. 64.67% of the stock is owned by hedge funds and other institutional investors.

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About Cal-Maine Foods (NASDAQ:CALM)

Cal-Maine Foods, Inc 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, and 4-Grain brand names, as well as under private labels.

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