Cal-Maine Foods (NASDAQ:CALM) Announces Quarterly Earnings Results, Misses Expectations By $0.30 EPS

by · The Markets Daily

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

Cal-Maine Foods Stock Performance

CALM opened at $75.88 on Thursday. The company has a market capitalization of $3.72 billion, a PE ratio of 13.37 and a beta of -0.10. The stock’s fifty day moving average is $71.38 and its 200-day moving average is $64.14. Cal-Maine Foods has a one year low of $42.25 and a one year high of $77.11.

Cal-Maine Foods Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Wednesday, October 30th will be paid a dividend of $1.02 per share. This is a positive change 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 5.38%. The ex-dividend date of this dividend is Wednesday, October 30th. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 54.61%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. The Goldman Sachs Group increased their target price 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 assumed coverage on shares of Cal-Maine Foods in a research note on Thursday. They set an “equal weight” rating and a $82.00 price objective on the stock.

Read Our Latest Research Report on CALM

Insider Buying and Selling

In related news, VP Robert L. Holladay, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total value of $106,395.00. Following the sale, the vice president now directly owns 16,754 shares in the company, valued at approximately $1,188,361.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Robert L. Holladay, Jr. sold 1,500 shares of Cal-Maine Foods stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total value of $106,395.00. Following the transaction, the vice president now directly owns 16,754 shares of the company’s stock, valued at $1,188,361.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 value 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 disclosure for this sale can be found here. Insiders have sold a total of 6,000 shares of company stock valued at $422,970 over the last three months. Company insiders own 13.51% of the company’s stock.

Cal-Maine Foods Company Profile

(Get Free Report)

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.

Further Reading