Cal-Maine Foods, Inc. (NASDAQ:CALM) Receives $93.00 Consensus Price Target from Brokerages

Cal-Maine Foods, Inc. (NASDAQ:CALM) has earned a consensus recommendation of “Hold” from the five analysts that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $93.00.

Several analysts have recently commented on CALM shares. Lake Street Capital set a $97.00 price objective on Cal-Maine Foods in a research note on Friday, October 3rd. 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 dropped their price objective on Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating on the stock in a research note on Thursday, January 8th. The Goldman Sachs Group cut their price objective on shares of Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, October 3rd. Finally, Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a research note on Monday, January 5th.

Cal-Maine Foods Price Performance

Shares of NASDAQ CALM opened at $81.57 on Tuesday. The company has a 50-day moving average price of $82.36 and a 200-day moving average price of $94.88. The stock has a market capitalization of $3.89 billion, a P/E ratio of 3.45 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 earnings results on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The business had revenue of $769.50 million during the quarter, compared to analyst estimates of $828.46 million. Cal-Maine Foods had a return on equity of 44.55% and a net margin of 27.37%.The company’s revenue was down 19.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.47 EPS. As a group, equities research analysts anticipate that Cal-Maine Foods will post 15.59 earnings per share for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 12th. Shareholders of record on Wednesday, January 28th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, January 28th. Cal-Maine Foods’s dividend payout ratio is presently 23.28%.

Hedge Funds Weigh In On Cal-Maine Foods

Several hedge funds have recently modified their holdings of CALM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Cal-Maine Foods by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,401 shares of the basic materials company’s stock valued at $2,218,000 after acquiring an additional 1,057 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Cal-Maine Foods by 100.8% during the first quarter. NewEdge Advisors LLC now owns 7,985 shares of the basic materials company’s stock worth $726,000 after acquiring an additional 4,009 shares during the period. United Services Automobile Association purchased a new position in Cal-Maine Foods in the first quarter worth $245,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Cal-Maine Foods by 10.0% in the 1st 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 during the period. Finally, Assenagon Asset Management S.A. grew its stake in Cal-Maine Foods by 3.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 27,568 shares of the basic materials company’s stock valued at $2,747,000 after purchasing an additional 985 shares during the period. Institutional investors own 84.67% of the company’s stock.

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.