Cal-Maine Foods (NASDAQ:CALM) Rating Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a buy rating to a hold rating in a report published on Friday morning.

Separately, Stephens reiterated an “equal weight” rating and set a $97.00 price target on shares of Cal-Maine Foods in a research report on Wednesday, April 23rd.

Cal-Maine Foods Stock Performance

CALM opened at $92.91 on Friday. The stock has a market capitalization of $4.56 billion, a PE ratio of 7.23 and a beta of 0.11. Cal-Maine Foods has a one year low of $56.30 and a one year high of $116.41. The business’s 50 day moving average price is $91.10 and its 200 day moving average price is $97.00.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results on Tuesday, April 8th. The basic materials company reported $10.38 EPS for the quarter, beating the consensus estimate of $5.79 by $4.59. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $953.76 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 101.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.00 EPS. As a group, equities research analysts forecast that Cal-Maine Foods will post 15.59 earnings per share for the current fiscal year.

Insider Transactions at Cal-Maine Foods

In related news, insider Adolphus B. Baker sold 140,266 shares of Cal-Maine Foods stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $90.60, for a total value of $12,708,099.60. Following the completion of the transaction, the insider now owns 1,319,034 shares in the company, valued at $119,504,480.40. The trade was a 9.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 13.45% of the company’s stock.

Institutional Investors Weigh In On Cal-Maine Foods

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. purchased a new position in shares of Cal-Maine Foods during the first quarter worth about $30,000. Blue Trust Inc. lifted its stake in Cal-Maine Foods by 388.2% in the first quarter. Blue Trust Inc. now owns 620 shares of the basic materials company’s stock valued at $56,000 after buying an additional 493 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Cal-Maine Foods in the first quarter valued at approximately $77,000. Harbor Capital Advisors Inc. grew its position in shares of Cal-Maine Foods by 126.0% during the first quarter. Harbor Capital Advisors Inc. now owns 920 shares of the basic materials company’s stock worth $84,000 after acquiring an additional 513 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Cal-Maine Foods by 339.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 797 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

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.