Cal-Maine Foods (CALM) Hits New 12-Month Low at $38.53

Cal-Maine Foods Inc (NASDAQ:CALM) shares reached a new 52-week low on Wednesday . The company traded as low as $38.53 and last traded at $38.53, with a volume of 2708 shares trading hands. The stock had previously closed at $39.57.

A number of research analysts recently weighed in on the stock. BidaskClub downgraded shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Friday, May 24th. ValuEngine downgraded shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Wednesday. Stephens set a $40.00 target price on shares of Cal-Maine Foods and gave the company a “hold” rating in a research report on Tuesday, April 2nd. Finally, Zacks Investment Research raised shares of Cal-Maine Foods from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Cal-Maine Foods presently has an average rating of “Hold” and an average price target of $42.00.

The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 13.19 and a beta of 0.28.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Monday, April 1st. The basic materials company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.32. The business had revenue of $383.99 million during the quarter, compared to the consensus estimate of $385.49 million. Cal-Maine Foods had a net margin of 9.57% and a return on equity of 15.09%. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.99 earnings per share. Equities research analysts predict that Cal-Maine Foods Inc will post 1.45 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Wednesday, May 1st were given a $0.272 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.09 dividend on an annualized basis and a yield of 2.91%. This is an increase from Cal-Maine Foods’s previous quarterly dividend of $0.15. Cal-Maine Foods’s dividend payout ratio (DPR) is 38.38%.

In other Cal-Maine Foods news, Director James E. Poole sold 2,500 shares of the stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $42.76, for a total value of $106,900.00. Following the completion of the sale, the director now owns 8,222 shares in the company, valued at $351,572.72. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Robert L. Holladay, Jr. sold 1,200 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $41.61, for a total transaction of $49,932.00. Following the completion of the sale, the vice president now owns 10,690 shares of the company’s stock, valued at approximately $444,810.90. The disclosure for this sale can be found here. Company insiders own 33.03% of the company’s stock.

A number of hedge funds have recently made changes to their positions in CALM. Diamond Hill Capital Management Inc. lifted its stake in Cal-Maine Foods by 97.8% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,060,049 shares of the basic materials company’s stock valued at $44,840,000 after acquiring an additional 524,083 shares during the last quarter. Norges Bank acquired a new stake in Cal-Maine Foods in the fourth quarter valued at $17,686,000. APG Asset Management N.V. lifted its stake in Cal-Maine Foods by 217.9% in the fourth quarter. APG Asset Management N.V. now owns 560,098 shares of the basic materials company’s stock valued at $20,725,000 after acquiring an additional 383,898 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Cal-Maine Foods by 116.1% in the third quarter. JPMorgan Chase & Co. now owns 359,099 shares of the basic materials company’s stock valued at $17,346,000 after acquiring an additional 192,912 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Cal-Maine Foods by 13.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,153,995 shares of the basic materials company’s stock valued at $48,813,000 after acquiring an additional 136,674 shares during the last quarter. Hedge funds and other institutional investors own 64.06% of the company’s stock.

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About Cal-Maine Foods (NASDAQ:CALM)

Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.

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