Cal-Maine Foods (NASDAQ:CALM) Price Target Raised to $90.00 at Stephens

Cal-Maine Foods (NASDAQ:CALM) had its price objective upped by Stephens from $85.00 to $90.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the basic materials company’s stock.

A number of other research analysts have also issued reports on the stock. Weiss Ratings lowered shares of Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. BMO Capital Markets lowered their price objective on Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating on the stock in a report on Thursday, January 8th. Finally, Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $94.00.

Cal-Maine Foods Price Performance

NASDAQ:CALM opened at $83.71 on Wednesday. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 3.54 and a beta of 0.26. The firm’s fifty day moving average price is $83.02 and its 200 day moving average price is $88.47. 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 announced its quarterly earnings data on Wednesday, January 7th. The basic materials company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $769.50 million for the quarter, compared to analysts’ expectations of $828.46 million. During the same quarter in the previous year, the company posted $4.47 EPS. The firm’s quarterly revenue was down 19.4% compared to the same quarter last year. As a group, analysts expect that Cal-Maine Foods will post 15.59 earnings per share for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Wednesday, January 28th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.4%. Cal-Maine Foods’s dividend payout ratio is 12.21%.

Institutional Trading of Cal-Maine Foods

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. boosted its holdings in Cal-Maine Foods by 2,173.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 11,756 shares of the basic materials company’s stock worth $935,000 after buying an additional 11,239 shares in the last quarter. World Investment Advisors purchased a new position in Cal-Maine Foods in the fourth quarter valued at about $397,000. Hsbc Holdings PLC lifted its position in shares of Cal-Maine Foods by 41.2% during the 4th quarter. Hsbc Holdings PLC now owns 53,608 shares of the basic materials company’s stock valued at $4,298,000 after acquiring an additional 15,643 shares during the period. DGS Capital Management LLC acquired a new stake in shares of Cal-Maine Foods during the 4th quarter valued at approximately $219,000. Finally, Mcguire Capital Advisors Inc. purchased a new stake in shares of Cal-Maine Foods during the 4th quarter worth approximately $71,000. 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. 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.