BMO Capital Markets Cuts Cal-Maine Foods (NASDAQ:CALM) Price Target to $80.00

Cal-Maine Foods (NASDAQ:CALM) had its target price decreased by BMO Capital Markets from $85.00 to $80.00 in a report released on Wednesday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the basic materials company’s stock.

Several other equities analysts have also commented on the company. Weiss Ratings lowered Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a research report on Tuesday, March 3rd. Finally, Stephens increased their price target on shares of Cal-Maine Foods from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 18th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $93.00.

Cal-Maine Foods Stock Performance

NASDAQ CALM opened at $77.12 on Wednesday. Cal-Maine Foods has a 52-week low of $71.92 and a 52-week high of $126.40. The company has a fifty day moving average of $83.52 and a 200-day moving average of $86.94. The company has a market capitalization of $3.67 billion, a P/E ratio of 3.26 and a beta of 0.26.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Wednesday, January 7th. The basic materials company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Cal-Maine Foods had a net margin of 27.37% and a return on equity of 44.55%. The firm had revenue of $769.50 million during the quarter, compared to the consensus estimate of $828.46 million. During the same period in the prior year, the company earned $4.47 EPS. The firm’s revenue was down 19.4% compared to the same quarter last year. As a group, analysts forecast that Cal-Maine Foods will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Wednesday, January 28th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, January 28th. Cal-Maine Foods’s dividend payout ratio (DPR) is 12.21%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Pinnacle Holdings LLC purchased a new stake in Cal-Maine Foods during the 4th quarter valued at about $30,000. Sound Income Strategies LLC purchased a new position in Cal-Maine Foods in the 3rd quarter worth approximately $32,000. WealthCollab LLC lifted its position in Cal-Maine Foods by 105.2% in the fourth quarter. WealthCollab LLC now owns 431 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 221 shares during the last quarter. IFP Advisors Inc lifted its position in Cal-Maine Foods by 58.2% in the third quarter. IFP Advisors Inc now owns 378 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 139 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Cal-Maine Foods by 46.5% during the fourth quarter. Signaturefd LLC now owns 488 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 155 shares during the period. 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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.