Stephens assumed coverage on shares of Cal-Maine Foods (NASDAQ:CALM – Free Report) in a research report report published on Thursday morning, MarketBeat.com reports. The firm issued an equal weight rating and a $82.00 target price on the basic materials company’s stock.
Separately, The Goldman Sachs Group increased their target price on Cal-Maine Foods from $47.00 to $52.00 and gave the stock a sell rating in a research report on Wednesday, July 17th.
Read Our Latest Report on Cal-Maine Foods
Cal-Maine Foods Trading Up 6.2 %
Cal-Maine Foods (NASDAQ:CALM – Get Free Report) last released its earnings results on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30). The company had revenue of $785.87 million during the quarter, compared to analysts’ expectations of $704.65 million. Cal-Maine Foods had a net margin of 11.94% and a return on equity of 16.46%. Cal-Maine Foods’s revenue for the quarter was up 71.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.02 earnings per share.
Cal-Maine Foods Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Wednesday, October 30th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 4.82%. This is a boost from Cal-Maine Foods’s previous quarterly dividend of $0.77. The ex-dividend date is Wednesday, October 30th. Cal-Maine Foods’s payout ratio is 72.16%.
Insider Transactions at Cal-Maine Foods
In related news, COO Michael Todd Walters sold 3,000 shares of Cal-Maine Foods stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total transaction of $210,600.00. Following the transaction, the chief operating officer now owns 5,310 shares in the company, valued at approximately $372,762. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Michael Todd Walters sold 3,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $70.20, for a total value of $210,600.00. Following the completion of the sale, the chief operating officer now owns 5,310 shares in the company, valued at approximately $372,762. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James E. Poole sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $70.65, for a total value of $105,975.00. Following the transaction, the director now directly owns 10,170 shares in the company, valued at $718,510.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,000 shares of company stock valued at $422,970 over the last 90 days. Corporate insiders own 13.51% of the company’s stock.
Institutional Investors Weigh In On Cal-Maine Foods
Large investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. purchased a new position in Cal-Maine Foods in the 2nd quarter valued at about $25,000. Quarry LP boosted its holdings in Cal-Maine Foods by 1,975.0% in the second quarter. Quarry LP now owns 581 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 553 shares during the last quarter. TFO Wealth Partners LLC boosted its holdings in Cal-Maine Foods by 32,400.0% in the fourth quarter. TFO Wealth Partners LLC now owns 650 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 648 shares during the last quarter. CWM LLC increased its holdings in Cal-Maine Foods by 120.1% during the 2nd quarter. CWM LLC now owns 625 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 341 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Cal-Maine Foods by 73.8% during the 2nd quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 287 shares during the last quarter. 84.67% of the stock is 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.
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