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

Cal-Maine Foods (NASDAQ:CALM) released its 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 firm had revenue of $785.87 million during the quarter, compared to analysts’ expectations of $704.65 million. Cal-Maine Foods had a return on equity of 16.46% and a net margin of 11.94%. The business’s quarterly revenue was up 71.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.02 earnings per share.

Cal-Maine Foods Stock Down 1.9 %

Shares of CALM stock opened at $75.41 on Thursday. The firm has a market cap of $3.70 billion, a P/E ratio of 13.37 and a beta of -0.10. The business has a 50-day moving average price of $71.38 and a two-hundred day moving average price of $64.14. 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 business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, August 5th were given a $0.77 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.08 annualized dividend and a yield of 4.08%. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 54.61%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director James E. Poole sold 1,500 shares of Cal-Maine Foods stock in a transaction on Friday, July 26th. The shares were sold at an average price of $70.65, for a total value of $105,975.00. Following the transaction, the director now owns 10,170 shares in the company, valued at approximately $718,510.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Cal-Maine Foods news, Director James E. Poole sold 1,500 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $70.65, for a total value of $105,975.00. Following the sale, the director now owns 10,170 shares of the company’s stock, valued at approximately $718,510.50. The sale 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 dated Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total transaction of $210,600.00. Following the transaction, the chief operating officer now directly owns 5,310 shares of the company’s stock, valued at $372,762. The disclosure for this sale can be found here. Insiders sold a total of 6,000 shares of company stock valued at $422,970 over the last quarter. 13.51% of the stock is owned by corporate insiders.

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.