Cal-Maine Foods (NASDAQ:CALM) Stock Price Up 4.9% – Still a Buy?

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s stock price was up 4.9% during mid-day trading on Monday . The company traded as high as $87.20 and last traded at $86.8490. Approximately 88,959 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 990,325 shares. The stock had previously closed at $82.80.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CALM. Wells Fargo & Company set a $100.00 target price on shares of Cal-Maine Foods in a report on Monday, July 13th. BMO Capital Markets increased their price target on shares of Cal-Maine Foods from $75.00 to $83.00 and gave the stock a “market perform” rating in a report on Thursday, July 23rd. Weiss Ratings lowered shares of Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 23rd. Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a report on Monday, July 13th. Finally, Wall Street Zen downgraded shares of Cal-Maine Foods from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $94.71.

Cal-Maine Foods Trading Down 0.5%

The stock has a market cap of $3.95 billion, a price-to-earnings ratio of 12.85 and a beta of 0.25. The firm’s 50-day moving average is $83.98 and its two-hundred day moving average is $81.33.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported ($0.76) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.84). Cal-Maine Foods had a return on equity of 11.79% and a net margin of 10.88%.The firm had revenue of $552.58 million for the quarter, compared to analysts’ expectations of $563.83 million. During the same quarter last year, the firm posted $7.04 earnings per share. Cal-Maine Foods’s quarterly revenue was down 49.9% on a year-over-year basis.

Institutional Trading of Cal-Maine Foods

Large investors have recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Cal-Maine Foods in the 2nd quarter valued at $3,182,000. California State Teachers Retirement System grew its holdings in shares of Cal-Maine Foods by 7,727.9% during the second quarter. California State Teachers Retirement System now owns 4,007,941 shares of the basic materials company’s stock worth $322,880,000 after buying an additional 3,956,740 shares in the last quarter. Compass Financial Management LLC acquired a new stake in shares of Cal-Maine Foods in the second quarter valued at about $153,000. Nykredit A S purchased a new position in shares of Cal-Maine Foods in the second quarter worth about $180,000. Finally, Navellier & Associates Inc. boosted its position in Cal-Maine Foods by 0.7% during the second quarter. Navellier & Associates Inc. now owns 33,262 shares of the basic materials company’s stock worth $2,680,000 after acquiring an additional 229 shares during the last quarter. 84.67% of the stock is currently 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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.