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 Rating: Consumer 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.