Cal-Maine Foods (NASDAQ:CALM) Upgraded to “Hold” at BMO Capital Markets

BMO Capital Markets upgraded shares of Cal-Maine Foods (NASDAQ:CALM) to a hold rating in a report released on Tuesday morning,Zacks.com reports.

CALM has been the subject of a number of other research reports. Stephens reissued an “equal weight” rating and issued a $97.00 target price on shares of Cal-Maine Foods in a report on Wednesday, April 23rd. StockNews.com lowered shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Friday, May 2nd.

Cal-Maine Foods Stock Performance

Shares of CALM stock opened at $96.92 on Tuesday. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 7.54 and a beta of 0.18. Cal-Maine Foods has a 52 week low of $56.66 and a 52 week high of $116.41. The company has a 50-day simple moving average of $91.36 and a 200 day simple moving average of $97.04.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Tuesday, April 8th. The basic materials company reported $10.38 EPS for the quarter, topping the consensus estimate of $5.79 by $4.59. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $953.76 million. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The business’s revenue for the quarter was up 101.6% on a year-over-year basis. During the same period last year, the firm earned $3.00 earnings per share. Sell-side analysts forecast that Cal-Maine Foods will post 15.59 EPS for the current year.

Insider Activity

In other Cal-Maine Foods news, insider Adolphus B. Baker sold 140,266 shares of the stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $90.60, for a total value of $12,708,099.60. Following the transaction, the insider now owns 1,319,034 shares in the company, valued at approximately $119,504,480.40. This represents 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 accessible through this hyperlink. 13.45% of the stock is currently owned by company insiders.

Institutional Trading of Cal-Maine Foods

A number of hedge funds and other institutional investors have recently bought and sold shares of CALM. Vanguard Group Inc. grew its holdings in shares of Cal-Maine Foods by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 4,905,606 shares of the basic materials company’s stock valued at $504,885,000 after buying an additional 118,162 shares during the last quarter. American Century Companies Inc. increased its holdings in Cal-Maine Foods by 12.7% during the 4th quarter. American Century Companies Inc. now owns 1,266,621 shares of the basic materials company’s stock worth $130,361,000 after purchasing an additional 143,189 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Cal-Maine Foods by 11.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 998,844 shares of the basic materials company’s stock worth $102,801,000 after purchasing an additional 104,512 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Cal-Maine Foods by 60.2% in the fourth quarter. Northern Trust Corp now owns 674,335 shares of the basic materials company’s stock valued at $69,403,000 after purchasing an additional 253,310 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Cal-Maine Foods by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 644,130 shares of the basic materials company’s stock worth $66,294,000 after buying an additional 22,939 shares in the last quarter. Institutional investors own 84.67% of the company’s stock.

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.