Cal-Maine Foods (CALM) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a hold rating to a buy rating in a research report released on Friday morning.

Several other analysts have also recently issued reports on CALM. Stephens cut shares of Cal-Maine Foods from an overweight rating to an equal weight rating in a research note on Monday, October 1st. BidaskClub cut shares of Cal-Maine Foods from a buy rating to a hold rating in a research note on Wednesday, August 29th. Finally, Zacks Investment Research cut shares of Cal-Maine Foods from a strong-buy rating to a hold rating in a research note on Tuesday, July 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $54.50.

Shares of NASDAQ CALM traded up $0.66 during trading on Friday, hitting $45.52. 264,119 shares of the company traded hands, compared to its average volume of 359,754. Cal-Maine Foods has a 1 year low of $39.50 and a 1 year high of $52.30. The stock has a market capitalization of $2.35 billion, a PE ratio of 16.03 and a beta of 0.49.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Monday, October 1st. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.23). Cal-Maine Foods had a net margin of 8.38% and a return on equity of 16.48%. The company had revenue of $340.60 million for the quarter, compared to analysts’ expectations of $346.76 million. During the same period in the prior year, the firm earned ($0.33) earnings per share. The firm’s quarterly revenue was up 29.6% on a year-over-year basis. On average, sell-side analysts forecast that Cal-Maine Foods will post 3.35 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be issued a dividend of $0.085 per share. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $0.34 annualized dividend and a dividend yield of 0.75%. Cal-Maine Foods’s payout ratio is 49.30%.

In related news, major shareholder Jean Morris Adams sold 40,149 shares of Cal-Maine Foods stock in a transaction on Monday, August 6th. The shares were sold at an average price of $44.95, for a total transaction of $1,804,697.55. Following the transaction, the insider now owns 1,074,895 shares in the company, valued at approximately $48,316,530.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Max P. Bowman bought 2,000 shares of Cal-Maine Foods stock in a transaction that occurred on Thursday, October 11th. The shares were acquired at an average price of $45.51 per share, for a total transaction of $91,020.00. Following the acquisition, the chief financial officer now directly owns 2,000 shares in the company, valued at approximately $91,020. The disclosure for this purchase can be found here. Insiders have sold a total of 225,000 shares of company stock worth $10,027,482 in the last 90 days. Company insiders own 33.03% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Personal Capital Advisors Corp lifted its holdings in shares of Cal-Maine Foods by 1.1% during the 3rd quarter. Personal Capital Advisors Corp now owns 250,906 shares of the basic materials company’s stock valued at $12,119,000 after acquiring an additional 2,844 shares in the last quarter. NEXT Financial Group Inc acquired a new position in Cal-Maine Foods in the 3rd quarter worth $133,000. United Services Automobile Association acquired a new position in Cal-Maine Foods in the 2nd quarter worth $208,000. Northern Trust Corp lifted its holdings in Cal-Maine Foods by 16.4% in the 2nd quarter. Northern Trust Corp now owns 530,149 shares of the basic materials company’s stock worth $24,308,000 after buying an additional 74,594 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new position in Cal-Maine Foods in the 2nd quarter worth $5,128,000. Institutional investors and hedge funds own 59.30% of the company’s stock.

About Cal-Maine Foods

Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.

See Also: Market Capitalization

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