Cal-Maine Foods (NASDAQ:CALM) Releases Earnings Results, Beats Expectations By $0.55 EPS

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

Cal-Maine Foods Stock Up 5.9 %

NASDAQ:CALM traded up $3.49 on Wednesday, reaching $62.40. 543,257 shares of the company’s stock were exchanged, compared to its average volume of 624,032. Cal-Maine Foods has a 52-week low of $42.25 and a 52-week high of $63.14. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 6.77 and a beta of -0.06. The business has a fifty day moving average of $57.64 and a 200-day moving average of $52.93.

Insider Transactions at Cal-Maine Foods

In other news, Director Letitia Callender Hughes sold 1,020 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Charles Jeff Hardin sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $56.51, for a total transaction of $42,382.50. Following the completion of the sale, the executive vice president now owns 3,999 shares in the company, valued at $225,983.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Letitia Callender Hughes sold 1,020 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $56.73, for a total value of $57,864.60. Following the sale, the director now owns 43,570 shares of the company’s stock, valued at approximately $2,471,726.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,228 shares of company stock valued at $520,122. 13.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cal-Maine Foods

Several large investors have recently modified their holdings of CALM. Captrust Financial Advisors raised its position in Cal-Maine Foods by 45.3% in the third quarter. Captrust Financial Advisors now owns 3,930 shares of the basic materials company’s stock worth $218,000 after acquiring an additional 1,226 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Cal-Maine Foods by 330.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,692 shares of the basic materials company’s stock worth $211,000 after acquiring an additional 3,601 shares in the last quarter. Stifel Financial Corp raised its position in Cal-Maine Foods by 8.1% in the second quarter. Stifel Financial Corp now owns 4,571 shares of the basic materials company’s stock worth $206,000 after acquiring an additional 342 shares in the last quarter. Strategic Wealth Partners Ltd. purchased a new position in Cal-Maine Foods in the first quarter worth $203,000. Finally, Belpointe Asset Management LLC raised its position in Cal-Maine Foods by 62.8% in the first quarter. Belpointe Asset Management LLC now owns 3,249 shares of the basic materials company’s stock worth $198,000 after acquiring an additional 1,253 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Analyst Ratings Changes

Separately, Stephens reaffirmed an “equal weight” rating and issued a $65.00 price objective on shares of Cal-Maine Foods in a research report on Wednesday.

Read Our Latest Report on Cal-Maine Foods

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, 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.

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

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