Cal-Maine Foods (NASDAQ:CALM) Given New $97.00 Price Target at BMO Capital Markets

Cal-Maine Foods (NASDAQ:CALM) had its target price reduced by BMO Capital Markets from $105.00 to $97.00 in a research report sent to investors on Friday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the basic materials company’s stock.

A number of other research analysts have also recently issued reports on the company. Stephens boosted their target price on Cal-Maine Foods from $108.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, July 24th. Lake Street Capital set a $97.00 price target on shares of Cal-Maine Foods in a research report on Friday. Wall Street Zen cut Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Saturday, August 23rd. Finally, The Goldman Sachs Group decreased their target price on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $101.75.

Cal-Maine Foods Stock Down 0.0%

Shares of NASDAQ:CALM opened at $92.56 on Friday. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 3.56 and a beta of 0.22. The business has a 50 day moving average price of $107.03 and a 200 day moving average price of $100.34. Cal-Maine Foods has a twelve month low of $79.44 and a twelve month high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last posted 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). Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The business had revenue of $922.60 million for the quarter, compared to analyst estimates of $931.62 million. During the same quarter in the prior year, the firm earned $3.06 EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. Analysts anticipate that Cal-Maine Foods will post 15.59 EPS for the current year.

Cal-Maine Foods Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Wednesday, October 29th will be issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Wednesday, October 29th. Cal-Maine Foods’s payout ratio is 37.76%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Archford Capital Strategies LLC grew its holdings in Cal-Maine Foods by 167.2% during the 2nd quarter. Archford Capital Strategies LLC now owns 73,225 shares of the basic materials company’s stock worth $7,295,000 after acquiring an additional 45,823 shares during the period. Sumitomo Mitsui Trust Group Inc. acquired a new stake in Cal-Maine Foods during the first quarter worth approximately $527,000. Bank of New York Mellon Corp increased its holdings in Cal-Maine Foods by 8.7% in the first quarter. Bank of New York Mellon Corp now owns 562,810 shares of the basic materials company’s stock worth $51,159,000 after purchasing an additional 45,201 shares in the last quarter. KBC Group NV lifted its stake in Cal-Maine Foods by 23.2% in the first quarter. KBC Group NV now owns 2,071 shares of the basic materials company’s stock valued at $188,000 after buying an additional 390 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Cal-Maine Foods by 25.7% during the 1st quarter. GAMMA Investing LLC now owns 1,720 shares of the basic materials company’s stock worth $156,000 after buying an additional 352 shares in the last quarter. 84.67% of the stock is 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.