Cal-Maine Foods (NASDAQ:CALM) Trading Down 3.7% – What’s Next?

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s stock price was down 3.7% during mid-day trading on Wednesday . The company traded as low as $85.10 and last traded at $85.22. Approximately 573,269 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 947,473 shares. The stock had previously closed at $88.54.

Analysts Set New Price Targets

Several research analysts recently commented on CALM shares. Stephens reissued an “equal weight” rating and issued a $97.00 price objective on shares of Cal-Maine Foods in a research note on Thursday, February 27th. StockNews.com upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Wednesday, January 15th.

Cal-Maine Foods Price Performance

The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 6.55 and a beta of -0.12. The firm has a fifty day moving average of $103.39 and a 200 day moving average of $92.38.

Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.42. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The business had revenue of $954.70 million during the quarter, compared to the consensus estimate of $751.50 million. During the same period last year, the company earned $0.35 EPS. The company’s revenue for the quarter was up 82.5% on a year-over-year basis. Research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Cal-Maine Foods

In related news, Director Letitia Callender Hughes sold 809 shares of the business’s stock in a transaction dated 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 approximately $4,702,427.17. The trade was a 1.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 13.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cal-Maine Foods

A number of institutional investors and hedge funds have recently made changes to their positions in CALM. Jefferies Financial Group Inc. increased its holdings in Cal-Maine Foods by 255.1% in the 4th quarter. Jefferies Financial Group Inc. now owns 19,884 shares of the basic materials company’s stock valued at $2,046,000 after purchasing an additional 14,284 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Cal-Maine Foods in the fourth quarter valued at $1,733,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Cal-Maine Foods by 27.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,686 shares of the basic materials company’s stock valued at $7,995,000 after buying an additional 16,650 shares during the period. Voloridge Investment Management LLC purchased a new stake in shares of Cal-Maine Foods in the 4th quarter valued at $3,180,000. Finally, State of Wyoming lifted its stake in Cal-Maine Foods by 45.3% during the 4th quarter. State of Wyoming now owns 4,869 shares of the basic materials company’s stock worth $501,000 after acquiring an additional 1,519 shares in the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

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.