JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
RIDGELAND, Miss. - Cal-Maine Foods, Inc. (NASDAQ:CALM), the $5.2 billion market cap egg producer currently trading at $107.53, announced Monday the appointment of Melanie Boulden to its Board of Directors as an independent director, effective immediately. According to InvestingPro data, the company maintains excellent financial health with a perfect Piotroski Score of 9.
Boulden will serve until the 2025 Annual Meeting of Shareholders before standing for reelection as a Class I Director for a three-year term. She will join the Compensation, Audit, and Nominating and Corporate Governance Committees starting September 1, 2025.
Boulden brings nearly three decades of experience in the food and beverage industry. She previously served as Group President of Tyson Foods’ Prepared Food business unit and Executive Vice President, Chief Growth Officer, where she managed a multibillion-dollar portfolio of brands including Jimmy Dean, Hillshire Farm, and Ball Park.
Her prior experience includes roles as Chief Marketing Officer of the North America operating unit of The Coca-Cola Company and President of its Still Beverages business unit. She has also held senior marketing positions at Reebok International, Crayola, Kraft Foods Group, and Henkel Consumer Goods.
Boulden currently serves on the board of directors of Adobe Inc. She holds a Bachelor of Science degree from Iowa State University and an MBA from the University of Iowa.
"As we continue to expand our market reach and diversify our product portfolio, we will benefit from her extensive management and marketing experience," said Dolph Baker, chairman of Cal-Maine Foods’ Board of Directors, in a press release statement. The company’s expansion strategy is supported by its strong financial foundation, with InvestingPro data showing more cash than debt on its balance sheet and liquid assets exceeding short-term obligations.
Cal-Maine Foods is the largest producer and distributor of fresh shell eggs in the United States, selling conventional, cage-free, organic, and specialty eggs throughout most of the country. The company’s strong market position is reflected in its attractive P/E ratio of 4.31 and impressive 8.76% dividend yield. InvestingPro analysis suggests the stock is currently undervalued, with 12 additional exclusive insights available to subscribers.
In other recent news, Cal-Maine Foods reported impressive fourth-quarter earnings and revenue results, surpassing analyst expectations. The company achieved adjusted earnings of $7.04 per share, well above the consensus estimate of $5.43, and recorded revenue of $1.1 billion, significantly exceeding the anticipated $870.41 million. This performance was largely attributed to higher egg prices, with the net average selling price per dozen increasing to $3.31 from $2.13 in the previous year. Following these results, BMO Capital raised its price target for Cal-Maine Foods to $105 from $100, maintaining a Market Perform rating. Stephens also increased its price target to $115 from $108, continuing with an Equal Weight rating. Additionally, Cal-Maine Foods appointed Keira Lombardo as its first-ever Chief Strategy Officer. Lombardo brings extensive experience from her previous roles, including her position as CEO of Dairy MAX. These developments highlight Cal-Maine Foods’ strong market position and strategic growth initiatives.
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