Cal-Maine Foods, Inc. (CALM) To Go Ex-Dividend on January 29th

Cal-Maine Foods, Inc. (NASDAQ:CALM) declared a quarterly dividend on Wednesday, January 8th,Wall Street Journal reports. Investors of record on Wednesday, January 29th will be given a dividend of 1.489 per share by the basic materials company on Thursday, February 13th. This represents a $5.96 dividend on an annualized basis and a yield of 5.69%. The ex-dividend date is Wednesday, January 29th. This is a boost from Cal-Maine Foods’s previous quarterly dividend of $1.02.

Cal-Maine Foods has raised its dividend by an average of 340.3% per year over the last three years. Cal-Maine Foods has a dividend payout ratio of 124.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Cal-Maine Foods to earn $3.49 per share next year, which means the company may not be able to cover its $4.08 annual dividend with an expected future payout ratio of 116.9%.

Cal-Maine Foods Stock Up 1.0 %

CALM stock opened at $104.73 on Friday. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 12.00 and a beta of -0.11. The firm has a 50 day moving average of $98.90 and a two-hundred day moving average of $82.22. Cal-Maine Foods has a 12 month low of $53.38 and a 12 month high of $114.06.

Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.42. Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The firm had revenue of $954.70 million during the quarter, compared to analyst estimates of $751.50 million. During the same period in the previous year, the company earned $0.35 EPS. The company’s revenue for the quarter was up 82.5% on a year-over-year basis. On average, research analysts expect that Cal-Maine Foods will post 8.54 EPS for the current fiscal year.

Analysts Set New Price Targets

CALM has been the subject of a number of research reports. Stephens began coverage on shares of Cal-Maine Foods in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price target for the company. StockNews.com downgraded Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Tuesday.

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.