Cal-Maine Foods (NASDAQ:CALM) Posts Earnings Results, Beats Expectations By $0.55 EPS

Cal-Maine Foods (NASDAQ:CALM) posted its earnings results on Tuesday. The basic materials company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.55, Briefing.com reports. Cal-Maine Foods had a return on equity of 17.06% and a net margin of 11.61%. The business had revenue of $703.08 million during the quarter, compared to the consensus estimate of $692.35 million. During the same period in the previous year, the business earned $6.62 EPS. The business’s quarterly revenue was down 29.5% on a year-over-year basis.

Cal-Maine Foods Stock Performance

CALM stock opened at $61.04 on Thursday. The stock’s 50 day moving average price is $57.77 and its 200 day moving average price is $52.99. The firm has a market cap of $2.99 billion, a P/E ratio of 10.82 and a beta of -0.06. Cal-Maine Foods has a 1 year low of $42.25 and a 1 year high of $63.14.

Cal-Maine Foods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 6.55%. This is a boost from Cal-Maine Foods’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, April 30th. Cal-Maine Foods’s dividend payout ratio (DPR) is 8.16%.

Insiders Place Their Bets

In related news, EVP Charles Jeff Hardin sold 750 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $56.51, for a total value of $42,382.50. Following the completion of the transaction, the executive vice president now owns 3,999 shares of the company’s stock, valued at approximately $225,983.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director James E. Poole sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $55.91, for a total value of $167,730.00. Following the completion of the sale, the director now directly owns 11,670 shares in the company, valued at $652,469.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Charles Jeff Hardin sold 750 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $56.51, for a total transaction of $42,382.50. Following the transaction, the executive vice president now directly owns 3,999 shares in the company, valued at approximately $225,983.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,228 shares of company stock valued at $520,122. Corporate insiders own 13.51% of the company’s stock.

Institutional Trading of Cal-Maine Foods

A number of institutional investors and hedge funds have recently made changes to their positions in CALM. US Bancorp DE increased its position in Cal-Maine Foods by 39.1% during the 1st quarter. US Bancorp DE now owns 1,095 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 308 shares in the last quarter. Quarry LP raised its stake in shares of Cal-Maine Foods by 99.6% in the 1st quarter. Quarry LP now owns 1,371 shares of the basic materials company’s stock valued at $83,000 after acquiring an additional 684 shares during the period. Fortis Capital Advisors LLC acquired a new position in shares of Cal-Maine Foods during the 4th quarter valued at $109,000. Steward Partners Investment Advisory LLC purchased a new stake in Cal-Maine Foods during the 1st quarter worth $134,000. Finally, Captrust Financial Advisors increased its holdings in Cal-Maine Foods by 7.0% in the 2nd quarter. Captrust Financial Advisors now owns 2,804 shares of the basic materials company’s stock valued at $139,000 after purchasing an additional 183 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Stephens reissued an “equal weight” rating and set a $65.00 price target on shares of Cal-Maine Foods in a report on Wednesday.

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.