Cal-Maine Foods (NASDAQ:CALM) Sets New 12-Month High at $73.35

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $73.35 and last traded at $72.21, with a volume of 205279 shares traded. The stock had previously closed at $70.95.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group boosted their price target on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a research report on Wednesday, July 17th.

Cal-Maine Foods Price Performance

The company has a 50-day moving average of $69.58 and a 200 day moving average of $63.07. The company has a market cap of $3.66 billion, a PE ratio of 13.06 and a beta of -0.10.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Tuesday, July 23rd. The basic materials company reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.41 by ($0.09). The business had revenue of $640.80 million during the quarter, compared to analysts’ expectations of $652.32 million. Cal-Maine Foods had a return on equity of 16.46% and a net margin of 11.94%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.27 earnings per share.

Cal-Maine Foods Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, August 5th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date was Monday, August 5th. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 54.61%.

Insider Activity at Cal-Maine Foods

In related news, Director James E. Poole sold 1,500 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $70.65, for a total value 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 $718,510.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director James E. Poole sold 1,500 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $70.65, for a total value of $105,975.00. Following the transaction, the director now directly owns 10,170 shares of the company’s stock, valued at $718,510.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Todd Walters sold 3,000 shares of Cal-Maine Foods stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $70.20, for a total value of $210,600.00. Following the sale, the chief operating officer now directly owns 5,310 shares of the company’s stock, valued at approximately $372,762. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,000 shares of company stock worth $422,970. Company insiders own 13.51% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Garner Asset Management Corp grew its holdings in shares of Cal-Maine Foods by 0.9% during the second quarter. Garner Asset Management Corp now owns 20,252 shares of the basic materials company’s stock worth $1,238,000 after buying an additional 183 shares in the last quarter. Regal Investment Advisors LLC lifted its stake in shares of Cal-Maine Foods by 3.9% in the second quarter. Regal Investment Advisors LLC now owns 5,404 shares of the basic materials company’s stock worth $330,000 after buying an additional 203 shares in the last quarter. Arizona State Retirement System boosted its position in Cal-Maine Foods by 2.0% during the second quarter. Arizona State Retirement System now owns 11,765 shares of the basic materials company’s stock worth $719,000 after acquiring an additional 230 shares during the last quarter. AlphaMark Advisors LLC grew its stake in Cal-Maine Foods by 4.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 5,554 shares of the basic materials company’s stock valued at $339,000 after acquiring an additional 249 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in Cal-Maine Foods by 37.6% in the 4th quarter. Quadrant Capital Group LLC now owns 941 shares of the basic materials company’s stock valued at $54,000 after acquiring an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

About Cal-Maine Foods

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.