Cal-Maine Foods (NASDAQ:CALM) Reaches New 12-Month High at $75.58

Cal-Maine Foods, Inc. (NASDAQ:CALM) reached a new 52-week high on Tuesday . The company traded as high as $75.58 and last traded at $75.44, with a volume of 322750 shares traded. The stock had previously closed at $74.61.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised their target price on Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a research note on Wednesday, July 17th.

Cal-Maine Foods Price Performance

The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 13.05 and a beta of -0.10. The business has a fifty day moving average of $70.05 and a 200 day moving average of $63.40.

Cal-Maine Foods (NASDAQ:CALM) last released 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 return on equity of 16.46% and a net margin of 11.94%. The business had revenue of $640.80 million for the quarter, compared to analysts’ expectations of $652.32 million. During the same quarter in the prior year, the company posted $2.27 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year.

Cal-Maine Foods Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, August 5th were issued a $0.77 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.08 annualized dividend and a yield of 4.11%. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 54.61%.

Insider Buying and Selling at Cal-Maine Foods

In other Cal-Maine Foods news, Director James E. Poole sold 1,500 shares of Cal-Maine Foods stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $70.65, for a total value of $105,975.00. Following the completion of the transaction, the director now directly owns 10,170 shares of the company’s stock, valued at approximately $718,510.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director James E. Poole sold 1,500 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $70.65, for a total transaction of $105,975.00. Following the sale, the director now owns 10,170 shares of the company’s stock, valued at $718,510.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael Todd Walters sold 3,000 shares of Cal-Maine Foods stock in a transaction on Wednesday, July 31st. The shares were 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 $372,762. 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 quarter. 13.51% of the stock is owned by company insiders.

Institutional Trading of Cal-Maine Foods

Several hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. purchased a new position in Cal-Maine Foods in the second quarter valued at approximately $25,000. Cape Investment Advisory Inc. purchased a new position in shares of Cal-Maine Foods in the 4th quarter valued at $32,000. Quarry LP raised 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 acquiring an additional 553 shares in the last quarter. CWM LLC lifted its position in Cal-Maine Foods by 120.1% in 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, TFO Wealth Partners LLC boosted 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 acquiring an additional 648 shares in the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

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.