Cal-Maine Foods, Inc. (NASDAQ:CALM) Receives $93.00 Average Price Target from Brokerages

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) have been given a consensus rating of “Hold” by the five brokerages that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $93.00.

Several equities research analysts recently issued reports on CALM shares. Stephens set a $85.00 target price on shares of Cal-Maine Foods and gave the stock an “equal weight” rating in a report on Thursday, January 8th. BMO Capital Markets decreased their target price on shares of Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating for the company in a research note on Thursday, January 8th. Weiss Ratings downgraded Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. Finally, Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a report on Tuesday, March 3rd.

Cal-Maine Foods Price Performance

Cal-Maine Foods stock opened at $87.85 on Wednesday. Cal-Maine Foods has a one year low of $71.92 and a one year high of $126.40. The business’s fifty day moving average is $82.58 and its 200 day moving average is $88.90. The stock has a market capitalization of $4.19 billion, a PE ratio of 3.71 and a beta of 0.26.

Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The business had revenue of $769.50 million during the quarter, compared to analysts’ expectations of $828.46 million. Cal-Maine Foods had a return on equity of 44.55% and a net margin of 27.37%.Cal-Maine Foods’s quarterly revenue was down 19.4% compared to the same quarter last year. During the same period last year, the firm posted $4.47 EPS. As a group, sell-side analysts expect that Cal-Maine Foods will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Wednesday, January 28th were given a $0.72 dividend. The ex-dividend date was Wednesday, January 28th. This represents a $2.88 dividend on an annualized basis and a yield of 3.3%. Cal-Maine Foods’s dividend payout ratio is presently 12.21%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Wedge Capital Management L L P NC increased its stake in Cal-Maine Foods by 1,085.8% in the 3rd quarter. Wedge Capital Management L L P NC now owns 259,445 shares of the basic materials company’s stock worth $24,414,000 after buying an additional 237,566 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Cal-Maine Foods by 6.5% during the third quarter. Principal Financial Group Inc. now owns 268,026 shares of the basic materials company’s stock worth $25,221,000 after purchasing an additional 16,251 shares in the last quarter. Range Financial Group LLC raised its stake in Cal-Maine Foods by 1,274.2% during the 3rd quarter. Range Financial Group LLC now owns 30,122 shares of the basic materials company’s stock valued at $2,834,000 after purchasing an additional 27,930 shares during the period. CX Institutional purchased a new position in Cal-Maine Foods in the 3rd quarter worth approximately $6,488,000. Finally, New York State Common Retirement Fund lifted its holdings in Cal-Maine Foods by 42.2% in the 3rd quarter. New York State Common Retirement Fund now owns 33,051 shares of the basic materials company’s stock worth $3,110,000 after purchasing an additional 9,805 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors.

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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.