Cal-Maine Foods (NASDAQ:CALM) Sets New 12-Month High – Still a Buy?

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $90.80 and last traded at $90.68, with a volume of 53691 shares. The stock had previously closed at $90.45.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Stephens began coverage on Cal-Maine Foods in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 target price for the company. The Goldman Sachs Group raised 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. Finally, StockNews.com raised shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Thursday, October 3rd.

Cal-Maine Foods Stock Up 2.1 %

The firm has a market capitalization of $4.62 billion, a PE ratio of 16.70 and a beta of -0.10. The stock has a 50-day simple moving average of $74.46 and a 200-day simple moving average of $65.93.

Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.30). The company had revenue of $785.87 million for the quarter, compared to analysts’ expectations of $704.65 million. Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The company’s revenue was up 71.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 EPS.

Cal-Maine Foods Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, August 5th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Monday, August 5th. Cal-Maine Foods’s dividend payout ratio is currently 72.16%.

Insider Activity at Cal-Maine Foods

In other news, VP Robert L. Holladay, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 16,754 shares in the company, valued at approximately $1,188,361.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Robert L. Holladay, Jr. sold 1,500 shares of the stock in a transaction that occurred 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 approximately $1,188,361.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michael Todd Walters sold 3,000 shares of the business’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 completion of the transaction, the chief operating officer now owns 5,310 shares in the company, valued at $372,762. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,000 shares of company stock valued at $422,970 over the last 90 days. 13.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC grew its stake in Cal-Maine Foods by 3.9% in the fourth quarter. Fisher Asset Management LLC now owns 33,838 shares of the basic materials company’s stock worth $1,942,000 after purchasing an additional 1,284 shares during the period. Eldred Rock Partners LLC boosted its stake in Cal-Maine Foods by 1.0% during the 1st quarter. Eldred Rock Partners LLC now owns 133,531 shares of the basic materials company’s stock valued at $7,858,000 after purchasing an additional 1,314 shares during the last quarter. Hodges Capital Management Inc. increased its holdings in Cal-Maine Foods by 129.0% in the 1st quarter. Hodges Capital Management Inc. now owns 154,225 shares of the basic materials company’s stock worth $9,076,000 after buying an additional 86,870 shares in the last quarter. MCF Advisors LLC purchased a new stake in Cal-Maine Foods during the first quarter valued at $46,000. Finally, AlphaMark Advisors LLC purchased a new stake in shares of Cal-Maine Foods during the 1st quarter valued at about $312,000. 84.67% of the stock is owned by hedge funds and other institutional investors.

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.