Cal-Maine Foods (NASDAQ:CALM) Sets New 52-Week High at $60.00

Cal-Maine Foods, Inc. (NASDAQ:CALMGet Rating) hit a new 52-week high during trading on Wednesday . The company traded as high as $60.00 and last traded at $59.59, with a volume of 9160 shares traded. The stock had previously closed at $58.22.

Analyst Upgrades and Downgrades

CALM has been the topic of a number of analyst reports. StockNews.com cut shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Thursday, September 15th. TheStreet raised shares of Cal-Maine Foods from a “c+” rating to an “a” rating in a research note on Monday, August 22nd.

Cal-Maine Foods Stock Performance

The business’s 50 day moving average is $54.63 and its 200-day moving average is $51.88. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 5.51 and a beta of -0.11.

Cal-Maine Foods (NASDAQ:CALMGet Rating) last released its quarterly earnings results on Tuesday, July 19th. The basic materials company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.75. Cal-Maine Foods had a net margin of 7.40% and a return on equity of 12.85%. The firm had revenue of $593.00 million for the quarter, compared to analysts’ expectations of $576.06 million. During the same quarter last year, the company earned ($0.09) EPS. The firm’s revenue for the quarter was up 69.4% compared to the same quarter last year. Sell-side analysts anticipate that Cal-Maine Foods, Inc. will post 5.84 EPS for the current fiscal year.

Cal-Maine Foods Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 16th. Investors of record on Monday, August 1st were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, July 29th. This represents a $3.00 dividend on an annualized basis and a yield of 4.95%. This is a boost from Cal-Maine Foods’s previous quarterly dividend of $0.03. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 110.70%.

Institutional Investors Weigh In On Cal-Maine Foods

A number of institutional investors have recently added to or reduced their stakes in CALM. Vigilant Capital Management LLC purchased a new position in Cal-Maine Foods in the 1st quarter valued at $28,000. Eagle Bay Advisors LLC lifted its holdings in Cal-Maine Foods by 34.5% in the 2nd quarter. Eagle Bay Advisors LLC now owns 733 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 188 shares in the last quarter. US Bancorp DE lifted its holdings in Cal-Maine Foods by 39.1% in the 1st quarter. US Bancorp DE now owns 1,095 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 308 shares in the last quarter. Dark Forest Capital Management LP lifted its holdings in Cal-Maine Foods by 986.3% in the 2nd quarter. Dark Forest Capital Management LP now owns 2,379 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 2,160 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in Cal-Maine Foods by 7.0% in the 2nd quarter. Captrust Financial Advisors now owns 2,804 shares of the basic materials company’s stock valued at $139,000 after purchasing an additional 183 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

About Cal-Maine Foods

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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, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, and 4-Grain brand names, as well as under private labels.

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