BMO Capital Markets Cuts Cal-Maine Foods (NASDAQ:CALM) Price Target to $97.00

Cal-Maine Foods (NASDAQ:CALM) had its price target reduced by BMO Capital Markets from $105.00 to $97.00 in a report issued on Friday,Benzinga reports. They currently have a market perform rating on the basic materials company’s stock.

CALM has been the topic of a number of other reports. Stephens boosted their price objective on Cal-Maine Foods from $108.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, July 24th. Wall Street Zen downgraded shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Saturday, August 23rd. The Goldman Sachs Group lowered their price target on shares of Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Lake Street Capital set a $97.00 price objective on shares of Cal-Maine Foods in a report on Friday. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Cal-Maine Foods has an average rating of “Hold” and an average price target of $101.75.

Cal-Maine Foods Trading Down 0.0%

Shares of NASDAQ CALM opened at $92.56 on Friday. The stock has a fifty day simple moving average of $107.03 and a two-hundred day simple moving average of $100.50. Cal-Maine Foods has a 1-year low of $79.44 and a 1-year high of $126.40. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 3.56 and a beta of 0.22.

Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.55 by ($0.43). Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The firm had revenue of $922.60 million during the quarter, compared to the consensus estimate of $931.62 million. During the same quarter in the previous year, the firm earned $3.06 earnings per share. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. Analysts forecast that Cal-Maine Foods will post 15.59 EPS for the current year.

Cal-Maine Foods Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th will be paid a dividend of $1.37 per share. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $5.48 annualized dividend and a dividend yield of 5.9%. Cal-Maine Foods’s dividend payout ratio (DPR) is 36.22%.

Institutional Investors Weigh In On Cal-Maine Foods

A number of institutional investors have recently made changes to their positions in CALM. Wellington Management Group LLP purchased a new position in Cal-Maine Foods in the 4th quarter worth $391,000. GAMMA Investing LLC grew its stake in shares of Cal-Maine Foods by 11,328.9% during the first quarter. GAMMA Investing LLC now owns 156,348 shares of the basic materials company’s stock valued at $14,212,000 after buying an additional 154,980 shares during the last quarter. NBC Securities Inc. grew its stake in shares of Cal-Maine Foods by 139,900.0% during the first quarter. NBC Securities Inc. now owns 1,400 shares of the basic materials company’s stock valued at $127,000 after buying an additional 1,399 shares during the last quarter. Vest Financial LLC increased its holdings in shares of Cal-Maine Foods by 77.7% in the first quarter. Vest Financial LLC now owns 41,861 shares of the basic materials company’s stock worth $3,805,000 after buying an additional 18,308 shares during the period. Finally, First Citizens Bank & Trust Co. bought a new stake in shares of Cal-Maine Foods in the 1st quarter valued at about $209,000. Hedge funds and other 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.