Cal-Maine Foods (NASDAQ:CALM) Now Covered by Stephens

Equities research analysts at Stephens started coverage on shares of Cal-Maine Foods (NASDAQ:CALM) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set an “equal weight” rating and a $82.00 price target on the basic materials company’s stock. Stephens’ price target suggests a potential downside of 3.04% from the company’s previous close.

Separately, The Goldman Sachs Group increased their target price on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a research note on Wednesday, July 17th.

Cal-Maine Foods Price Performance

Shares of Cal-Maine Foods stock opened at $84.57 on Thursday. The stock has a market cap of $4.15 billion, a PE ratio of 14.84 and a beta of -0.10. The firm has a fifty day moving average price of $71.55 and a 200 day moving average price of $64.25. Cal-Maine Foods has a 1 year low of $43.50 and a 1 year high of $84.67.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30). Cal-Maine Foods had a net margin of 11.94% and a return on equity of 16.46%. The company had revenue of $785.87 million for the quarter, compared to analysts’ expectations of $704.65 million. During the same quarter in the previous year, the business posted $0.02 EPS. The business’s quarterly revenue was up 71.1% on a year-over-year basis.

Insider Activity

In related news, VP Robert L. Holladay, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total transaction of $106,395.00. Following the completion of the sale, the vice president now directly owns 16,754 shares in the company, valued at approximately $1,188,361.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cal-Maine Foods news, COO Michael Todd Walters sold 3,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total value of $210,600.00. Following the completion of the sale, the chief operating officer now owns 5,310 shares in the company, valued at approximately $372,762. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert L. Holladay, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total value of $106,395.00. Following the transaction, the vice president now owns 16,754 shares in the company, valued at approximately $1,188,361.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,000 shares of company stock worth $422,970 over the last quarter. 13.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cal-Maine Foods

A number of institutional investors have recently added to or reduced their stakes in the stock. Garner Asset Management Corp grew its holdings in Cal-Maine Foods by 0.9% in the 2nd quarter. Garner Asset Management Corp now owns 20,252 shares of the basic materials company’s stock valued at $1,238,000 after buying an additional 183 shares in the last quarter. Regal Investment Advisors LLC boosted its position in shares of Cal-Maine Foods by 3.9% during the 2nd quarter. Regal Investment Advisors LLC now owns 5,404 shares of the basic materials company’s stock valued at $330,000 after acquiring an additional 203 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Cal-Maine Foods by 2.0% in the second quarter. Arizona State Retirement System now owns 11,765 shares of the basic materials company’s stock valued at $719,000 after purchasing an additional 230 shares during the period. AlphaMark Advisors LLC increased its position in Cal-Maine Foods by 4.7% during the second quarter. AlphaMark Advisors LLC now owns 5,554 shares of the basic materials company’s stock worth $339,000 after purchasing an additional 249 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Cal-Maine Foods by 73.8% during the second quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 287 shares during the period. Hedge funds and other 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.