Cal-Maine Foods Inc. (NASDAQ: CALM) stock fell -2.17% on Tuesday to $53.73 against a previous-day closing price of $54.92. With 0.84 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.01 million shares. During the session, the Farm Products company that operates in wider Consumer Defensive sector, reached to the highest price of $54.51 whereas the lowest price it dropped to was $53.01. The 52-week range on CALM shows that it touched its highest point at $65.32 and its lowest point at $38.25 during that stretch. It currently has a 1-year price target of $60.67. With its current market cap of 2.42 billion, CALM has annualized dividend of $3.08 while the current yield stands at 5.73%. Beta for the stock currently stands at -0.09.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CALM was down-trending over the past week, with a drop of -4.67%, but this was down by -14.14% over a month. Three-month performance dropped to -8.45% while six-month performance fell -5.49%. The stock gained 31.47% in the past year, while it has lost -1.32% so far this year. A look at the trailing 12-month EPS for CALM yields 9.74 with Next year EPS estimates of 4.77. For the next quarter, that number is 4.55. This implies an EPS growth rate of 430.10% for this year and -66.92% for next year.
Float and Shares Shorts:
At present, 48.62 million CALM shares are outstanding with a float of 32.94 million shares on hand for trading. On Oct 13, 2022, short shares totaled 6.74 million, which was 13.78% higher than short shares on Sep 14, 2022. In addition to Mr. Adolphus B. Baker as the firm’s Exec. Chairman, Mr. Sherman L. Miller serves as its CEO, Pres & Director.
Through their ownership of 93.14% of CALM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.70% of CALM, in contrast to 43.21% held by mutual funds. Shares owned by individuals account for 41.29%. As the largest shareholder in CALM with 12.73% of the stake, BlackRock Fund Advisors holds 5,619,310 shares worth 5,619,310. A second-largest stockholder of CALM, The Vanguard Group, Inc., holds 4,894,507 shares, controlling over 11.09% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in CALM, holding 1,774,058 shares or 4.02% stake. With a 6.36% stake in CALM, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 2,808,147 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.72% of CALM stock, is the second-largest Mutual Fund holder. It holds 1,198,818 shares valued at 65.28 million. First Trust Value Line Dividend I holds 2.51% of the stake in CALM, owning 1,108,294 shares worth 60.35 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CALM since 4 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CALM analysts setting a high price target of $67.00 and a low target of $40.00, the average target price over the next 12 months is $55.50. Based on these targets, CALM could surge 24.7% to reach the target high and fall by -25.55% to reach the target low. Reaching the average price target will result in a growth of 3.29% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CALM will report FY 2023 earnings on 07/18/2023. Analysts have provided yearly estimates in a range of $17.33 being high and $12.01 being low. For CALM, this leads to a yearly average estimate of $14.42. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Cal-Maine Foods Inc. surprised analysts by -$0.17 when it reported $4.07 EPS against a consensus estimate of $4.24. The surprise factor in the prior quarter was -$0.15. Based on analyst estimates, the high estimate for the next quarter is $6.00 and the low estimate is $2.48. The average estimate for the next quarter is thus $4.55.
Dividends & Yield:
In terms of dividends, CALM has a current ratio of $3.08, which is $3.08 over the trailing 12-months, while a dividend of $1.15 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and CALM currently yields $5.72. In the past year, CALM’s dividend yield has been $5.72, but when looking at the stock over the past five years, its yield has been $2.87. Accordingly, CALM has a current buyback yield of $0.04. This was $0.04 for the TTM, and it was $0.05 for the past five years.
Summary of Insider Activity:
Insiders traded CALM stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 0 while 5,000 shares were sold.