Cal-Maine Foods (NASDAQ:CALM) Posts Earnings Results, Misses Estimates By $0.30 EPS

Cal-Maine Foods (NASDAQ:CALM) announced its quarterly earnings results on Tuesday. The basic materials company reported $3.06 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30), Briefing.com reports. The business had revenue of $785.87 million during the quarter, compared to the consensus estimate of $704.65 million. Cal-Maine Foods had a net margin of 11.94% and a return on equity of 16.46%. The firm’s revenue was up 71.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.02 EPS.

Cal-Maine Foods Stock Performance

NASDAQ CALM traded up $4.21 on Thursday, reaching $79.62. 1,143,322 shares of the company’s stock traded hands, compared to its average volume of 609,022. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 13.99 and a beta of -0.10. The stock has a 50 day moving average price of $71.38 and a 200-day moving average price of $64.14. Cal-Maine Foods has a fifty-two week low of $42.25 and a fifty-two week high of $79.75.

Cal-Maine Foods Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Wednesday, October 30th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This is an increase from Cal-Maine Foods’s previous quarterly dividend of $0.77. This represents a $4.08 dividend on an annualized basis and a yield of 5.12%. Cal-Maine Foods’s payout ratio is currently 54.61%.

Insider Activity at Cal-Maine Foods

In other news, VP Robert L. Holladay, Jr. sold 1,500 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total transaction of $106,395.00. Following the completion of the sale, the vice president now owns 16,754 shares of the company’s stock, valued at $1,188,361.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Michael Todd Walters sold 3,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total value of $210,600.00. Following the transaction, the chief operating officer now directly owns 5,310 shares of the company’s stock, valued at approximately $372,762. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert L. Holladay, Jr. sold 1,500 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total transaction of $106,395.00. Following the completion of the transaction, the vice president now directly owns 16,754 shares in the company, valued at $1,188,361.22. The disclosure for this sale can be found here. Insiders sold 6,000 shares of company stock worth $422,970 over the last three months. Company insiders own 13.51% of the company’s stock.

Wall Street Analysts Forecast Growth

CALM has been the topic of several analyst reports. The Goldman Sachs Group lifted their price target on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a report on Wednesday, July 17th. Stephens initiated coverage on shares of Cal-Maine Foods in a report on Thursday. They issued an “equal weight” rating and a $82.00 price target on the 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.