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

Cal-Maine Foods (NASDAQ:CALM) posted 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. Cal-Maine Foods had a net margin of 11.94% and a return on equity of 16.46%. The company had revenue of $785.87 million during the quarter, compared to analyst estimates of $704.65 million. During the same period in the prior year, the business earned $0.02 EPS. Cal-Maine Foods’s revenue for the quarter was up 71.1% on a year-over-year basis.

Cal-Maine Foods Stock Performance

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

Cal-Maine Foods Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, August 5th were given 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 dividend yield of 4.08%. Cal-Maine Foods’s dividend payout ratio is currently 54.61%.

Wall Street Analyst Weigh In

Separately, 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 report on Wednesday, July 17th.

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods 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 transaction of $105,975.00. Following the sale, the director now owns 10,170 shares of the company’s stock, valued at $718,510.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Cal-Maine Foods news, Director James E. Poole sold 1,500 shares of the firm’s 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 transaction, the director now owns 10,170 shares of the company’s stock, valued at $718,510.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Michael Todd Walters sold 3,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total value of $210,600.00. Following the completion of the sale, the chief operating officer now directly 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 valued at $422,970 over the last three months. 13.51% of the stock is owned by corporate 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.