Cal-Maine Foods (NASDAQ:CALM) Price Target Cut to $98.00 by Analysts at The Goldman Sachs Group

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

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

Cal-Maine Foods Price Performance

Shares of Cal-Maine Foods stock opened at $92.56 on Friday. The stock’s 50 day simple moving average is $107.03 and its 200-day simple moving average is $100.34. The stock has a market cap of $4.54 billion, a P/E ratio of 3.56 and a beta of 0.22. Cal-Maine Foods has a 1-year low of $79.44 and a 1-year 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 EPS for the quarter, missing the consensus estimate of $4.55 by ($0.43). The company had revenue of $922.60 million during the quarter, compared to analyst estimates of $931.62 million. Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. Cal-Maine Foods’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.06 EPS. As a group, research analysts expect that Cal-Maine Foods will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Wednesday, October 29th will be issued 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 37.76%.

Institutional Trading of Cal-Maine Foods

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP purchased a new stake in Cal-Maine Foods during the 4th quarter worth approximately $391,000. GAMMA Investing LLC grew its stake in shares of Cal-Maine Foods by 11,328.9% in the first quarter. GAMMA Investing LLC now owns 156,348 shares of the basic materials company’s stock worth $14,212,000 after acquiring an additional 154,980 shares in the last quarter. NBC Securities Inc. increased its position in shares of Cal-Maine Foods by 139,900.0% during the first quarter. NBC Securities Inc. now owns 1,400 shares of the basic materials company’s stock worth $127,000 after acquiring an additional 1,399 shares during the period. Vest Financial LLC raised its stake in shares of Cal-Maine Foods by 77.7% in the first quarter. Vest Financial LLC now owns 41,861 shares of the basic materials company’s stock valued at $3,805,000 after acquiring an additional 18,308 shares in the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new stake in shares of Cal-Maine Foods in the first quarter valued at $209,000. 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.