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

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

Cal-Maine Foods Trading Up 2.7 %

CALM stock opened at $76.84 on Wednesday. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 13.62 and a beta of -0.10. The firm has a 50-day moving average of $71.21 and a two-hundred day moving average of $64.06. Cal-Maine Foods has a 12 month low of $42.25 and a 12 month high of $77.11.

Cal-Maine Foods Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, August 5th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Monday, August 5th. Cal-Maine Foods’s dividend payout ratio is currently 54.61%.

Insider Activity at Cal-Maine Foods

In other news, VP Robert L. Holladay, Jr. sold 1,500 shares of Cal-Maine Foods stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total transaction of $106,395.00. Following the transaction, the vice president now owns 16,754 shares in the company, valued at approximately $1,188,361.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,500 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total transaction of $106,395.00. Following the completion of the sale, the vice president now 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 available through this hyperlink. Also, COO Michael Todd Walters sold 3,000 shares of the company’s 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 completion of the transaction, the chief operating officer now directly owns 5,310 shares in the company, valued at approximately $372,762. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,000 shares of company stock valued at $422,970. 13.51% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upped 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.

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.