Cal-Maine Foods (NASDAQ:CALM) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Cal-Maine Foods (NASDAQ:CALM) from a buy rating to a hold rating in a report released on Tuesday.

Separately, Stephens began coverage on Cal-Maine Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price objective on the stock.

Cal-Maine Foods Stock Up 1.0 %

Shares of CALM stock opened at $104.73 on Tuesday. The firm has a market capitalization of $5.14 billion, a P/E ratio of 12.00 and a beta of -0.11. Cal-Maine Foods has a twelve month low of $53.38 and a twelve month high of $114.06. The stock’s fifty day simple moving average is $98.90 and its 200 day simple moving average is $82.22.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings data on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.42. The business had revenue of $954.70 million for the quarter, compared to analyst estimates of $751.50 million. Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. Cal-Maine Foods’s quarterly revenue was up 82.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. As a group, equities research analysts expect that Cal-Maine Foods will post 8.54 EPS for the current fiscal year.

Cal-Maine Foods Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Wednesday, January 29th will be given a $1.489 dividend. This represents a $5.96 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date of this dividend is Wednesday, January 29th. This is a positive change from Cal-Maine Foods’s previous quarterly dividend of $1.02. Cal-Maine Foods’s payout ratio is 46.62%.

Institutional Investors Weigh In On Cal-Maine Foods

Institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. bought a new stake in shares of Cal-Maine Foods in the 3rd quarter valued at about $29,000. Hexagon Capital Partners LLC grew its position in shares of Cal-Maine Foods by 57.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock valued at $32,000 after buying an additional 155 shares during the last quarter. Krane Funds Advisors LLC bought a new stake in shares of Cal-Maine Foods in the 3rd quarter valued at about $33,000. Quarry LP grew its position in shares of Cal-Maine Foods by 1,975.0% in the 2nd quarter. Quarry LP now owns 581 shares of the basic materials company’s stock valued at $36,000 after buying an additional 553 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Cal-Maine Foods during the 2nd quarter valued at about $47,000. Institutional investors own 84.67% of the company’s stock.

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.