Cal-Maine Foods (NASDAQ:CALM) Price Target Lowered to $80.00 at BMO Capital Markets

Cal-Maine Foods (NASDAQ:CALM) had its price objective cut by BMO Capital Markets from $85.00 to $80.00 in a report published on Wednesday morning,Benzinga reports. They currently have a market perform rating on the basic materials company’s stock.

Several other analysts have also recently issued reports on CALM. Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a research report on Tuesday, March 3rd. Weiss Ratings lowered Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. Finally, Stephens raised their price objective on Cal-Maine Foods from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 18th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $93.00.

Cal-Maine Foods Stock Performance

Shares of CALM opened at $78.11 on Wednesday. The company has a 50 day moving average price of $83.51 and a 200-day moving average price of $87.24. Cal-Maine Foods has a fifty-two week low of $71.92 and a fifty-two week high of $126.40. The stock has a market capitalization of $3.72 billion, a PE ratio of 3.30 and a beta of 0.26.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings data on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). The business had revenue of $769.50 million for the quarter, compared to analysts’ expectations of $828.46 million. Cal-Maine Foods had a net margin of 27.37% and a return on equity of 44.55%. The business’s quarterly revenue was down 19.4% compared to the same quarter last year. During the same period in the previous year, the business earned $4.47 earnings per share. 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 was paid on Thursday, February 12th. Stockholders of record on Wednesday, January 28th were issued a dividend of $0.72 per share. The ex-dividend date was Wednesday, January 28th. This represents a $2.88 annualized dividend and a dividend yield of 3.7%. Cal-Maine Foods’s dividend payout ratio is 12.21%.

Institutional Trading of Cal-Maine Foods

Institutional investors have recently bought and sold shares of the stock. Pinnacle Holdings LLC purchased a new stake in Cal-Maine Foods during the 4th quarter worth approximately $30,000. Sound Income Strategies LLC purchased a new position in shares of Cal-Maine Foods in the third quarter worth $32,000. WealthCollab LLC lifted its stake in shares of Cal-Maine Foods by 105.2% during the fourth quarter. WealthCollab LLC now owns 431 shares of the basic materials company’s stock worth $34,000 after buying an additional 221 shares during the period. IFP Advisors Inc lifted its stake in shares of Cal-Maine Foods by 58.2% during the third quarter. IFP Advisors Inc now owns 378 shares of the basic materials company’s stock worth $37,000 after buying an additional 139 shares during the period. Finally, Signaturefd LLC grew its holdings in shares of Cal-Maine Foods by 46.5% during the fourth quarter. Signaturefd LLC now owns 488 shares of the basic materials company’s stock valued at $39,000 after buying an additional 155 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

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.