The Goldman Sachs Group Cuts Cal-Maine Foods (NASDAQ:CALM) Price Target to $98.00

Cal-Maine Foods (NASDAQ:CALM) had its target price trimmed by The Goldman Sachs Group from $110.00 to $98.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the basic materials company’s stock.

A number of other analysts also recently issued reports on the company. Stephens lifted their target price on Cal-Maine Foods from $108.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, July 24th. Lake Street Capital set a $97.00 price target on shares of Cal-Maine Foods in a research note on Friday. Wall Street Zen lowered shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Saturday, August 23rd. Finally, BMO Capital Markets upped their target price on shares of Cal-Maine Foods from $100.00 to $105.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $101.75.

Cal-Maine Foods Trading Down 0.0%

Shares of NASDAQ CALM opened at $92.56 on Friday. The company has a fifty day moving average price of $107.03 and a 200 day moving average price of $100.50. Cal-Maine Foods has a 1-year low of $79.44 and a 1-year high of $126.40. The firm has a market cap of $4.54 billion, a PE ratio of 3.56 and a beta of 0.22.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share for the quarter, missing analysts’ consensus estimates of $4.55 by ($0.43). The firm had revenue of $922.60 million for the quarter, compared to analyst estimates of $931.62 million. Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The company’s revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company earned $3.06 EPS. Equities research analysts forecast that Cal-Maine Foods will post 15.59 EPS for the current year.

Cal-Maine Foods Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th will be paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio (DPR) is 36.22%.

Institutional Trading of Cal-Maine Foods

A number of institutional investors have recently modified their holdings of CALM. Vanguard Group Inc. increased its position in shares of Cal-Maine Foods by 0.8% in the first quarter. Vanguard Group Inc. now owns 4,945,681 shares of the basic materials company’s stock worth $449,562,000 after purchasing an additional 40,075 shares during the period. State Street Corp grew its stake in Cal-Maine Foods by 6.8% during the second quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock worth $171,038,000 after buying an additional 108,578 shares in the last quarter. American Century Companies Inc. increased its holdings in Cal-Maine Foods by 8.8% in the 2nd quarter. American Century Companies Inc. now owns 1,563,734 shares of the basic materials company’s stock valued at $155,795,000 after buying an additional 126,791 shares during the period. Geode Capital Management LLC increased its holdings in Cal-Maine Foods by 7.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,095,246 shares of the basic materials company’s stock valued at $109,132,000 after buying an additional 76,102 shares during the period. Finally, Squarepoint Ops LLC raised its position in shares of Cal-Maine Foods by 60.1% in the 2nd quarter. Squarepoint Ops LLC now owns 934,037 shares of the basic materials company’s stock valued at $93,058,000 after buying an additional 350,771 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors.

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.