Cal-Maine Foods (NASDAQ:CALM) Reaches New 1-Year Low – What’s Next?

Cal-Maine Foods, Inc. (NASDAQ:CALM) hit a new 52-week low on Tuesday . The stock traded as low as $72.16 and last traded at $72.5220, with a volume of 465319 shares. The stock had previously closed at $73.86.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CALM shares. Stephens set a $85.00 price objective on Cal-Maine Foods and gave the stock an “equal weight” rating in a report on Thursday, January 8th. Lake Street Capital set a $97.00 price objective on shares of Cal-Maine Foods in a research note on Friday, October 3rd. BMO Capital Markets decreased their target price on shares of Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating on the stock in a research report on Thursday, January 8th. Weiss Ratings downgraded shares of Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. Finally, The Goldman Sachs Group reduced their target price on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, October 3rd. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $93.00.

Cal-Maine Foods Stock Down 1.7%

The company has a market cap of $3.52 billion, a PE ratio of 3.07 and a beta of 0.26. The business’s 50 day moving average price is $84.31 and its 200-day moving average price is $96.15.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). The firm had revenue of $769.50 million during the quarter, compared to analysts’ expectations of $828.46 million. Cal-Maine Foods had a net margin of 27.37% and a return on equity of 44.55%. Cal-Maine Foods’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same quarter last year, the company posted $4.47 earnings per share. Equities analysts expect that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Cal-Maine Foods Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 12th. Shareholders of record on Wednesday, January 28th will be issued a dividend of $0.72 per share. The ex-dividend date is Wednesday, January 28th. This represents a $2.88 annualized dividend and a yield of 4.0%. Cal-Maine Foods’s payout ratio is currently 23.28%.

Hedge Funds Weigh In On Cal-Maine Foods

Several large investors have recently modified their holdings of the stock. Byrne Asset Management LLC raised its position in shares of Cal-Maine Foods by 230.2% during the 4th quarter. Byrne Asset Management LLC now owns 2,331 shares of the basic materials company’s stock valued at $185,000 after acquiring an additional 1,625 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Cal-Maine Foods by 62.3% during the 4th quarter. SG Americas Securities LLC now owns 10,407 shares of the basic materials company’s stock valued at $828,000 after buying an additional 3,995 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Cal-Maine Foods by 46.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 38,853 shares of the basic materials company’s stock worth $3,092,000 after acquiring an additional 12,248 shares during the period. GAMMA Investing LLC lifted its holdings in Cal-Maine Foods by 4.8% in the fourth quarter. GAMMA Investing LLC now owns 3,164 shares of the basic materials company’s stock worth $252,000 after acquiring an additional 145 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Cal-Maine Foods by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 333,545 shares of the basic materials company’s stock valued at $31,387,000 after acquiring an additional 20,348 shares during the period. 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.