Cal-Maine Foods (CALM) Scheduled to Post Quarterly Earnings on Tuesday

Cal-Maine Foods (NASDAQ:CALM) is set to release its earnings data after the market closes on Tuesday, October 1st.

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

Cal-Maine Foods Stock Performance

NASDAQ:CALM opened at $74.61 on Tuesday. The company has a 50-day moving average of $70.05 and a 200-day moving average of $63.40. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 13.23 and a beta of -0.10. Cal-Maine Foods has a 52 week low of $42.25 and a 52 week high of $75.47.

Cal-Maine Foods Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, August 5th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Monday, August 5th. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 54.61%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group lifted 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.

Insider Transactions at Cal-Maine Foods

In related news, Director James E. Poole sold 1,500 shares of the business’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 transaction, the director now directly owns 10,170 shares in the company, valued at $718,510.50. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, COO Michael Todd Walters sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 of the company’s stock, valued at $372,762. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James E. Poole sold 1,500 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $70.65, for a total value 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 have sold a total of 6,000 shares of company stock valued at $422,970 over the last 90 days. 13.51% of the stock is owned by corporate insiders.

About Cal-Maine Foods

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.