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

Cal-Maine Foods (NASDAQ:CALM) released 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 firm had revenue of $785.87 million for the quarter, compared to the consensus estimate 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 prior year, the firm earned $0.02 earnings per share.

Cal-Maine Foods Stock Performance

NASDAQ:CALM opened at $76.84 on Wednesday. The stock has a 50-day simple moving average of $71.21 and a 200-day simple moving average of $64.06. The stock has a market cap of $3.77 billion, a P/E ratio of 13.62 and a beta of -0.10. Cal-Maine Foods has a 1 year low of $42.25 and a 1 year 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 paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.08 annualized dividend and a yield of 4.01%. Cal-Maine Foods’s payout ratio is 54.61%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Cal-Maine Foods

In other news, Director James E. Poole sold 1,500 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $70.65, for a total transaction of $105,975.00. Following the completion of the transaction, the director now directly owns 10,170 shares of the company’s stock, valued at approximately $718,510.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Cal-Maine Foods news, COO Michael Todd Walters sold 3,000 shares of Cal-Maine Foods stock in a transaction that occurred on 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James E. Poole sold 1,500 shares of Cal-Maine Foods stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $70.65, for a total transaction of $105,975.00. Following the sale, the director now owns 10,170 shares in the company, valued at approximately $718,510.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,000 shares of company stock worth $422,970. 13.51% of the stock is owned by insiders.

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.