Cal-Maine Foods, Inc. (NASDAQ:CALM) Given Average Recommendation of “Hold” by Brokerages

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) have been given an average recommendation of “Hold” by the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $93.00.

A number of research analysts have commented on the company. Stephens set a $85.00 price target on Cal-Maine Foods and gave the company an “equal weight” rating in a research report on Thursday, January 8th. Weiss Ratings downgraded Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. BMO Capital Markets decreased their price objective on shares of Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating for the company in a report on Thursday, January 8th. Finally, Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a report on Monday, January 5th.

Cal-Maine Foods Price Performance

NASDAQ:CALM opened at $83.44 on Friday. The business has a 50 day moving average of $81.72 and a 200 day moving average of $92.50. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 3.53 and a beta of 0.26. Cal-Maine Foods has a 1-year low of $71.92 and a 1-year high of $126.40.

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

Cal-Maine Foods Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Wednesday, January 28th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $2.88 annualized dividend and a dividend yield of 3.5%. Cal-Maine Foods’s dividend payout ratio is presently 12.21%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CALM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Cal-Maine Foods by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,401 shares of the basic materials company’s stock worth $2,218,000 after acquiring an additional 1,057 shares during the period. NewEdge Advisors LLC grew its holdings in Cal-Maine Foods by 100.8% during the 1st quarter. NewEdge Advisors LLC now owns 7,985 shares of the basic materials company’s stock valued at $726,000 after buying an additional 4,009 shares in the last quarter. United Services Automobile Association bought a new stake in Cal-Maine Foods in the 1st quarter worth approximately $245,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Cal-Maine Foods by 10.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,422 shares of the basic materials company’s stock valued at $7,765,000 after purchasing an additional 7,736 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in shares of Cal-Maine Foods by 3.5% in the 2nd quarter. Truist Financial Corp now owns 3,541 shares of the basic materials company’s stock worth $353,000 after buying an additional 121 shares during 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.