BMO Capital Markets Lowers Cal-Maine Foods (NASDAQ:CALM) Price Target to $97.00

Cal-Maine Foods (NASDAQ:CALM) had its target price decreased by BMO Capital Markets from $105.00 to $97.00 in a research report report published on Friday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the basic materials company’s stock.

CALM has been the subject of a number of other research reports. Lake Street Capital set a $97.00 price target on Cal-Maine Foods in a research report on Friday. The Goldman Sachs Group decreased their target price on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating for the company in a report on Friday. Wall Street Zen lowered shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Saturday, August 23rd. Finally, Stephens increased their price target on shares of Cal-Maine Foods from $108.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $101.75.

Cal-Maine Foods Stock Down 0.0%

NASDAQ:CALM opened at $92.56 on Friday. The firm has a market capitalization of $4.54 billion, a P/E ratio of 3.56 and a beta of 0.22. The company has a fifty day moving average of $107.03 and a 200 day moving average of $100.50. Cal-Maine Foods has a 52 week low of $79.44 and a 52 week high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.55 by ($0.43). The firm had revenue of $922.60 million during the quarter, compared to analysts’ expectations of $931.62 million. Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. Cal-Maine Foods’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.06 EPS. As a group, analysts anticipate that Cal-Maine Foods will post 15.59 EPS for the current year.

Cal-Maine Foods Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th will be paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 5.9%. The ex-dividend date is Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 36.22%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CALM. Vanguard Group Inc. boosted its position in shares of Cal-Maine Foods by 0.8% during the first quarter. Vanguard Group Inc. now owns 4,945,681 shares of the basic materials company’s stock valued at $449,562,000 after buying an additional 40,075 shares during the last quarter. State Street Corp raised its position in Cal-Maine Foods by 6.8% in the 2nd quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock worth $171,038,000 after buying an additional 108,578 shares during the last quarter. American Century Companies Inc. lifted its stake in Cal-Maine Foods by 8.8% during the 2nd quarter. American Century Companies Inc. now owns 1,563,734 shares of the basic materials company’s stock valued at $155,795,000 after acquiring an additional 126,791 shares during the period. Geode Capital Management LLC lifted its stake in Cal-Maine Foods by 7.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,095,246 shares of the basic materials company’s stock valued at $109,132,000 after acquiring an additional 76,102 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in shares of Cal-Maine Foods by 60.1% during the 2nd quarter. Squarepoint Ops LLC now owns 934,037 shares of the basic materials company’s stock valued at $93,058,000 after acquiring an additional 350,771 shares during the last quarter. 84.67% of the stock is owned by institutional investors.

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.