Cal-Maine Foods (NASDAQ:CALM) Upgraded to Buy by StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of Cal-Maine Foods (NASDAQ:CALM – Free Report) from a hold rating to a buy rating in a research report released on Thursday.

Other equities analysts also recently issued research reports about the stock. Stephens began coverage on shares of Cal-Maine Foods in a report on Thursday. They set an equal weight rating and a $82.00 price target on the stock. The Goldman Sachs Group lifted their price target on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the company a sell rating in a report on Wednesday, July 17th.

View Our Latest Analysis on Cal-Maine Foods

Cal-Maine Foods Trading Up 6.2 %

CALM opened at $84.57 on Thursday. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 14.99 and a beta of -0.10. The company’s 50 day moving average is $71.82 and its 200 day moving average is $64.44. Cal-Maine Foods has a 12-month low of $43.50 and a 12-month high of $84.67.

Cal-Maine Foods (NASDAQ:CALM – Get Free Report) last posted its quarterly earnings data on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30). Cal-Maine Foods had a return on equity of 16.46% and a net margin of 11.94%. The business had revenue of $785.87 million during the quarter, compared to analysts’ expectations of $704.65 million. During the same period in the previous year, the business posted $0.02 EPS. The business’s quarterly revenue was up 71.1% compared to the same quarter last year.

Cal-Maine Foods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Wednesday, October 30th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 4.82%. The ex-dividend date is Wednesday, October 30th. This is a boost from Cal-Maine Foods’s previous quarterly dividend of $0.77. Cal-Maine Foods’s payout ratio is currently 72.16%.

Insider Buying and Selling

In other news, Director James E. Poole sold 1,500 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $70.65, for a total transaction of $105,975.00. Following the completion of the sale, the director now directly owns 10,170 shares of the company’s stock, valued at approximately $718,510.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Michael Todd Walters sold 3,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total value of $210,600.00. Following the completion of the sale, the chief operating officer now directly owns 5,310 shares of the company’s stock, valued at $372,762. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Poole sold 1,500 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $70.65, for a total transaction of $105,975.00. Following the completion of the sale, the director now directly owns 10,170 shares of the company’s stock, valued at approximately $718,510.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,000 shares of company stock worth $422,970. Insiders own 13.51% of the company’s stock.

Institutional Trading of Cal-Maine Foods

Several hedge funds have recently modified their holdings of CALM. Advisory Services Network LLC purchased a new stake in shares of Cal-Maine Foods during the fourth quarter valued at about $160,000. TFO Wealth Partners LLC lifted its position in shares of Cal-Maine Foods by 32,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 650 shares of the basic materials company’s stock valued at $37,000 after buying an additional 648 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Cal-Maine Foods during the fourth quarter valued at about $240,000. AdvisorShares Investments LLC purchased a new stake in shares of Cal-Maine Foods during the fourth quarter valued at about $453,000. Finally, Verition Fund Management LLC lifted its position in shares of Cal-Maine Foods by 38.4% during the fourth quarter. Verition Fund Management LLC now owns 239,587 shares of the basic materials company’s stock valued at $13,750,000 after buying an additional 66,435 shares during the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

About Cal-Maine Foods

(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.

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