Cal-Maine Foods (NASDAQ:CALM) Issues Quarterly Earnings Results, Beats Estimates By $0.55 EPS

Cal-Maine Foods (NASDAQ:CALMGet Free Report) announced its quarterly earnings results on Tuesday. The basic materials company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.55, Briefing.com reports. Cal-Maine Foods had a net margin of 16.94% and a return on equity of 28.34%. The business had revenue of $703.08 million for the quarter, compared to analysts’ expectations of $692.35 million. During the same quarter last year, the firm earned $6.62 EPS. The firm’s revenue for the quarter was down 29.5% compared to the same quarter last year.

Cal-Maine Foods Price Performance

Cal-Maine Foods stock traded up $3.49 during mid-day trading on Wednesday, hitting $62.40. The company’s stock had a trading volume of 543,257 shares, compared to its average volume of 624,032. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 6.77 and a beta of -0.06. The business has a 50 day moving average price of $57.64 and a 200-day moving average price of $52.93. Cal-Maine Foods has a 12 month low of $42.25 and a 12 month high of $63.14.

Insiders Place Their Bets

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 1,020 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $56.73, for a total value of $57,864.60. Following the completion of the sale, the director now directly owns 43,570 shares of the company’s stock, valued at $2,471,726.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director James E. Poole sold 3,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $55.91, for a total transaction of $167,730.00. Following the completion of the transaction, the director now directly owns 11,670 shares of the company’s stock, valued at $652,469.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Letitia Callender Hughes sold 1,020 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $56.73, for a total transaction of $57,864.60. Following the transaction, the director now directly owns 43,570 shares of the company’s stock, valued at $2,471,726.10. The disclosure for this sale can be found here. Insiders sold 9,228 shares of company stock valued at $520,122 over the last three months. Insiders own 13.51% of the company’s stock.

Hedge Funds Weigh In On Cal-Maine Foods

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its position in shares of Cal-Maine Foods by 19.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 165,507 shares of the basic materials company’s stock valued at $9,498,000 after buying an additional 27,418 shares during the period. American International Group Inc. grew its holdings in Cal-Maine Foods by 5.9% in the fourth quarter. American International Group Inc. now owns 22,324 shares of the basic materials company’s stock worth $1,281,000 after purchasing an additional 1,243 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Cal-Maine Foods by 16.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,747 shares of the basic materials company’s stock worth $1,593,000 after purchasing an additional 3,902 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Cal-Maine Foods by 136.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 175,957 shares of the basic materials company’s stock worth $10,098,000 after purchasing an additional 101,463 shares during the period. Finally, GSA Capital Partners LLP grew its holdings in Cal-Maine Foods by 38.5% in the fourth quarter. GSA Capital Partners LLP now owns 7,686 shares of the basic materials company’s stock worth $441,000 after purchasing an additional 2,138 shares during the period. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Analyst Ratings Changes

Separately, Stephens restated an “equal weight” rating and set a $65.00 price target on shares of Cal-Maine Foods in a research note on Wednesday.

Read Our Latest Stock Analysis on CALM

About Cal-Maine Foods

(Get Free Report)

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.

See Also

Earnings History for Cal-Maine Foods (NASDAQ:CALM)

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