Cal-Maine Foods (NASDAQ:CALM) Sets New 12-Month High at $75.90

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $75.90 and last traded at $75.90, with a volume of 122787 shares trading hands. The stock had previously closed at $74.84.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised their price target on 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 Trading Up 2.2 %

The firm has a 50-day moving average of $70.97 and a 200 day moving average of $63.94. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 13.61 and a beta of -0.10.

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

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 issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.08 annualized dividend and a yield of 4.03%. Cal-Maine Foods’s payout ratio is 54.61%.

Insider Buying and Selling at Cal-Maine Foods

In other news, Director James E. Poole sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $70.65, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Cal-Maine Foods news, COO Michael Todd Walters sold 3,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $372,762. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James E. Poole sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $70.65, for a total transaction of $105,975.00. Following the completion of the transaction, the director now owns 10,170 shares of the company’s stock, valued at $718,510.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,000 shares of company stock valued at $422,970. 13.51% of the stock is owned by corporate insiders.

Institutional Trading of Cal-Maine Foods

Hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. purchased a new stake in Cal-Maine Foods in the 2nd quarter worth approximately $25,000. Quarry LP boosted its position in Cal-Maine Foods by 1,975.0% during the second quarter. Quarry LP now owns 581 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 553 shares during the last quarter. TFO Wealth Partners LLC grew its stake in Cal-Maine Foods by 32,400.0% in the fourth quarter. TFO Wealth Partners LLC now owns 650 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 648 shares in the last quarter. CWM LLC increased its position in Cal-Maine Foods by 120.1% in the 2nd quarter. CWM LLC now owns 625 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 341 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Cal-Maine Foods by 73.8% during the 2nd quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 287 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

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.