Cal-Maine Foods (NASDAQ:CALM) Shares Down 3.8% – Should You Sell?

Cal-Maine Foods, Inc. (NASDAQ:CALM) fell 3.8% on Friday . The stock traded as low as $106.67 and last traded at $106.23. 236,511 shares were traded during trading, a decline of 69% from the average session volume of 751,018 shares. The stock had previously closed at $110.48.

Analysts Set New Price Targets

Several analysts have recently weighed in on CALM shares. StockNews.com raised shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th. Stephens initiated coverage on Cal-Maine Foods in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price objective on the stock.

Cal-Maine Foods Stock Down 3.4 %

The business’s fifty day moving average is $103.38 and its 200 day moving average is $86.11. The stock has a market cap of $5.23 billion, a PE ratio of 8.30 and a beta of -0.11.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results on Tuesday, January 7th. The basic materials company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.05 by $0.42. The business had revenue of $954.70 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 82.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 EPS. As a group, analysts predict that Cal-Maine Foods, Inc. will post 8.54 EPS for the current year.

Insider Activity

In other news, Director Letitia Callender Hughes sold 809 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $109.97, for a total value of $88,965.73. Following the sale, the director now directly owns 42,761 shares in the company, valued at $4,702,427.17. This represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.45% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Axiom Advisory LLC increased its position in Cal-Maine Foods by 3.3% during the third quarter. Axiom Advisory LLC now owns 4,061 shares of the basic materials company’s stock worth $280,000 after buying an additional 128 shares in the last quarter. Martingale Asset Management L P increased its position in Cal-Maine Foods by 0.4% during the 3rd quarter. Martingale Asset Management L P now owns 39,321 shares of the basic materials company’s stock worth $2,943,000 after purchasing an additional 145 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in Cal-Maine Foods by 57.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 155 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Cal-Maine Foods by 1.3% during the 3rd quarter. Stifel Financial Corp now owns 15,049 shares of the basic materials company’s stock worth $1,126,000 after purchasing an additional 188 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of Cal-Maine Foods by 32.5% during the 3rd quarter. Quarry LP now owns 770 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 189 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

About Cal-Maine Foods

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.