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

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

Cal-Maine Foods Trading Down 1.9 %

NASDAQ CALM opened at $75.41 on Thursday. Cal-Maine Foods has a 1 year low of $42.25 and a 1 year high of $77.11. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 13.37 and a beta of -0.10. The firm’s 50 day simple moving average is $71.38 and its 200 day simple moving average is $64.14.

Cal-Maine Foods Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, August 5th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Monday, August 5th. Cal-Maine Foods’s dividend payout ratio is currently 54.61%.

Insider Buying and Selling

In other news, Director James E. Poole sold 1,500 shares of the firm’s stock in a transaction that occurred 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 directly owns 10,170 shares in the company, valued at approximately $718,510.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director James E. Poole sold 1,500 shares of Cal-Maine Foods stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $70.65, for a total transaction of $105,975.00. Following the sale, the director now directly owns 10,170 shares of the company’s stock, valued at $718,510.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael Todd Walters sold 3,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $70.20, for a total value of $210,600.00. Following the sale, the chief operating officer now owns 5,310 shares in the company, valued at $372,762. The disclosure for this sale can be found here. Insiders sold a total of 6,000 shares of company stock worth $422,970 in the last ninety days. 13.51% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.