Cal-Maine Foods (NASDAQ:CALM) Upgraded at StockNews.com

StockNews.com upgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Separately, Stephens started coverage on Cal-Maine Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 target price for the company.

Cal-Maine Foods Stock Up 1.5 %

Shares of CALM opened at $113.63 on Wednesday. Cal-Maine Foods has a 52-week low of $53.38 and a 52-week high of $114.40. The company has a market capitalization of $5.57 billion, a PE ratio of 8.84 and a beta of -0.11. The stock has a fifty day simple moving average of $101.36 and a two-hundred day simple moving average of $84.24.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.42. The business had revenue of $954.70 million during the quarter, compared to analysts’ expectations of $751.50 million. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The company’s revenue was up 82.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.35 EPS. As a group, equities analysts anticipate that Cal-Maine Foods will post 8.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Cal-Maine Foods

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of the stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total value of $88,965.73. Following the sale, the director now owns 42,761 shares of the company’s stock, valued at $4,702,427.17. This trade represents a 1.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 13.45% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cal-Maine Foods

Several hedge funds and other institutional investors have recently made changes to their positions in CALM. Harbor Capital Advisors Inc. acquired a new stake in shares of Cal-Maine Foods during the 3rd quarter worth about $29,000. Hexagon Capital Partners LLC increased its position in Cal-Maine Foods by 57.0% during the third quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock worth $32,000 after buying an additional 155 shares during the period. Krane Funds Advisors LLC acquired a new position in Cal-Maine Foods during the third quarter worth approximately $33,000. Quarry LP increased its position in Cal-Maine Foods by 1,975.0% during the second quarter. Quarry LP now owns 581 shares of the basic materials company’s stock worth $36,000 after buying an additional 553 shares during the period. Finally, GAMMA Investing LLC increased its position in Cal-Maine Foods by 62.9% during the third quarter. GAMMA Investing LLC now owns 1,101 shares of the basic materials company’s stock worth $82,000 after buying an additional 425 shares during the period. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc, together with its subsidiaries, produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, free-range, pasture-raised, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4Grain brand names.