Cal-Maine Foods (NASDAQ:CALM) Hits New 1-Year Low – What’s Next?

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $71.73 and last traded at $71.6950, with a volume of 502639 shares changing hands. The stock had previously closed at $72.53.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CALM shares. BMO Capital Markets raised their target price on Cal-Maine Foods from $75.00 to $83.00 and gave the company a “market perform” rating in a research note on Thursday, July 23rd. Wall Street Zen cut Cal-Maine Foods from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. The Goldman Sachs Group reissued a “neutral” rating and issued a $70.00 price target on shares of Cal-Maine Foods in a report on Friday. Weiss Ratings lowered Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. Finally, Stephens set a $80.00 price objective on Cal-Maine Foods in a report on Tuesday. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $90.00.

Cal-Maine Foods Stock Performance

The business’s 50 day moving average price is $81.91 and its 200-day moving average price is $80.27. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 10.98 and a beta of 0.23.

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

Institutional Investors Weigh In On Cal-Maine Foods

A number of institutional investors have recently made changes to their positions in CALM. Bank of New York Mellon Corp acquired a new stake in Cal-Maine Foods during the 2nd quarter worth about $57,894,000. Jupiter Asset Management Ltd. acquired a new position in shares of Cal-Maine Foods in the 4th quarter valued at about $28,864,000. First Trust Advisors LP increased its holdings in shares of Cal-Maine Foods by 29.7% in the 1st quarter. First Trust Advisors LP now owns 1,552,297 shares of the basic materials company’s stock valued at $122,864,000 after purchasing an additional 355,762 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Cal-Maine Foods by 13.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,519,483 shares of the basic materials company’s stock worth $199,416,000 after purchasing an additional 300,910 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Cal-Maine Foods by 68.8% in the first quarter. Janus Henderson Group PLC now owns 353,751 shares of the basic materials company’s stock worth $27,997,000 after purchasing an additional 144,140 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc is a leading producer and distributor of shell eggs in the United States. The company manages a vertically integrated business that includes egg production, processing, packaging, marketing and distribution. Its products are sold to retail grocery chains, foodservice customers, food processors and institutional buyers.

Cal-Maine offers conventional shell eggs as well as specialty products, including cage-free, organic, brown, free-range and nutritionally enhanced eggs.