Shares of Cal-Maine Foods Inc (NASDAQ:CALM) have earned an average rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $55.00.
Several equities research analysts have recently commented on CALM shares. TheStreet upgraded Cal-Maine Foods from a “c+” rating to a “b” rating in a research report on Friday, July 24th. BidaskClub upgraded Cal-Maine Foods from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Zacks Investment Research downgraded Cal-Maine Foods from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, August 21st.
In related news, CEO Adolphus B. Baker sold 5,520,000 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $39.00, for a total value of $215,280,000.00. Following the completion of the sale, the chief executive officer now owns 160,143 shares in the company, valued at $6,245,577. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Jean Morris Adams sold 1,380,000 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $39.00, for a total value of $53,820,000.00. The disclosure for this sale can be found here. Insiders own 27.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its holdings in Cal-Maine Foods by 1.4% in the first quarter. Alliancebernstein L.P. now owns 54,216 shares of the basic materials company’s stock valued at $2,384,000 after purchasing an additional 725 shares during the last quarter. FDx Advisors Inc. increased its holdings in Cal-Maine Foods by 547.2% in the second quarter. FDx Advisors Inc. now owns 17,829 shares of the basic materials company’s stock valued at $793,000 after purchasing an additional 15,074 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in Cal-Maine Foods by 10.7% in the first quarter. BNP Paribas Arbitrage SA now owns 13,783 shares of the basic materials company’s stock valued at $606,000 after purchasing an additional 1,335 shares during the last quarter. Swiss National Bank increased its holdings in shares of Cal-Maine Foods by 15.1% in the second quarter. Swiss National Bank now owns 68,600 shares of the basic materials company’s stock worth $3,051,000 after acquiring an additional 9,000 shares in the last quarter. Finally, APG Asset Management N.V. bought a new stake in shares of Cal-Maine Foods in the first quarter worth about $12,467,000. Institutional investors and hedge funds own 63.34% of the company’s stock.
Shares of NASDAQ:CALM opened at $39.01 on Wednesday. The firm has a market cap of $1.90 billion, a P/E ratio of 105.44 and a beta of -0.23. Cal-Maine Foods has a 12 month low of $30.74 and a 12 month high of $46.66. The company’s 50-day moving average price is $42.35 and its two-hundred day moving average price is $41.94.
Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Monday, July 20th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.04. Cal-Maine Foods had a net margin of 1.36% and a return on equity of 2.22%. The company had revenue of $453.30 million for the quarter, compared to analyst estimates of $458.22 million. During the same period in the prior year, the business earned ($0.41) earnings per share. Cal-Maine Foods’s quarterly revenue was up 61.5% on a year-over-year basis. As a group, analysts expect that Cal-Maine Foods will post 1.41 EPS for the current year.
About Cal-Maine Foods
Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.
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