RIDGELAND, Miss.—Letitia Callender Hughes, a director at Cal-Maine Foods Inc. (NASDAQ:CALM), a $5.49 billion market cap company whose stock has surged 115.7% over the past year and trades near its 52-week high of $114.06, recently sold 809 shares of common stock in the company. The shares were sold at a price of $109.97 each, totaling $88,965. Following this transaction, Hughes now holds 42,761 shares directly. According to InvestingPro, the company maintains an excellent Financial Health Score of 4.08 and trades at an attractive P/E ratio of 8.67.
In a separate transaction on the same day, Hughes acquired 982 shares of time-vesting restricted stock at no cost. These shares will vest on the third anniversary of the grant date, increasing her total holdings to 43,743 shares. InvestingPro subscribers have access to 15 additional investment tips and comprehensive financial metrics for CALM.
In other recent news, Cal-Maine Foods showcased strong financial health in its second quarter earnings for fiscal year 2025, exceeding both Stephens' and consensus estimates. The company reported an adjusted earnings per share (EPS) of $4.48, surpassing the anticipated $4.25 by Stephens and $4.05 by consensus. The company's adjusted EBITDA also outperformed expectations, reaching $325.4 million against the projected $282.4 million by Stephens and $303.7 million by consensus.
These robust results were driven by a 14.5% year-over-year increase in egg sales and an average selling price rise to $2.74 per dozen. Cal-Maine Foods also announced plans to invest approximately $60 million in new capital projects to expand cage-free egg production capacity, expected to add capacity for about 1.1 million cage-free layer hens by late summer 2025.
Amid these recent developments, Stephens maintained an Equal Weight rating on Cal-Maine Foods shares and raised its price target from $88 to $97. This decision was influenced by the company's strong supply and demand balance, heightened seasonal egg demand, and the ongoing impact of the Highly Pathogenic Avian Influenza (HPAI). Lastly, Cal-Maine declared a quarterly dividend of $1.49 per share.
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