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

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

Cal-Maine Foods Stock Down 1.9 %

NASDAQ:CALM opened at $75.41 on Thursday. The company has a fifty day moving average of $71.38 and a 200 day moving average of $64.14. Cal-Maine Foods has a 52 week low of $42.25 and a 52 week high of $77.11. The firm has a market capitalization of $3.70 billion, a P/E ratio of 13.37 and a beta of -0.10.

Cal-Maine Foods Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Wednesday, October 30th will be issued a dividend of $1.02 per share. This is a positive change from Cal-Maine Foods’s previous quarterly dividend of $0.77. This represents a $4.08 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date of this dividend is Wednesday, October 30th. Cal-Maine Foods’s dividend payout ratio is currently 54.61%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CALM. Stephens began coverage on shares of Cal-Maine Foods in a research note on Thursday. They issued an “equal weight” rating and a $82.00 price target for the company. 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 note on Wednesday, July 17th.

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,500 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total value of $106,395.00. Following the completion of the transaction, the vice president now directly owns 16,754 shares in the company, valued at approximately $1,188,361.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,500 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total value of $106,395.00. Following the completion of the transaction, the vice president now directly owns 16,754 shares in the company, valued at approximately $1,188,361.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Todd Walters sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $70.20, for a total transaction of $210,600.00. Following the completion of the transaction, the chief operating officer now owns 5,310 shares of the company’s stock, valued at $372,762. The disclosure for this sale can be found here. Insiders sold 6,000 shares of company stock worth $422,970 in the last three months. 13.51% of the stock is owned by 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.