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Shivani Kumaresan

Cal-Maine Foods To Invest $82M For Cage-Free Egg Production Expansion

  • Cal-Maine Foods Inc (NASDAQ:CALM) said its Board of Directors has approved new capital projects to expand its cage-free egg production capabilities.
  • The company plans to fund the proposed projects for an estimated $82 million through a combination of available cash on hand, investments, and operating cash flow.
  • The projects will include Cal-Maine Foods' locations in Delta, Utah, and Guthrie, Kentucky.
  • The company held cash and equivalents of $96.7 million as of February 26, 2022.
  • Cal-Maine Foods is engaged in the production, grading, packing, marketing, and sale of fresh shell eggs.
  • Analyst RatingConsumer Edge Research upgraded Cal-Maine Foods from Equal-Weight to Overweight.
  • Price Action: CALM shares are trading higher by 3.91% at $54.00 on the last check Wednesday.
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