Cal-Maine Foods (NASDAQ:CALM) Hits New 12-Month High – What’s Next?

Cal-Maine Foods, Inc. (NASDAQ:CALM) reached a new 52-week high on Monday . The stock traded as high as $97.40 and last traded at $97.40, with a volume of 1660 shares traded. The stock had previously closed at $95.96.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CALM. StockNews.com lowered Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Saturday. Stephens began coverage on Cal-Maine Foods in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 target price for the company.

Cal-Maine Foods Price Performance

The stock has a market cap of $4.72 billion, a PE ratio of 11.07 and a beta of -0.12. The business has a fifty day moving average of $86.02 and a 200 day moving average of $72.20.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.30). Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The firm had revenue of $785.87 million for the quarter, compared to analyst estimates of $704.65 million. During the same period in the prior year, the company posted $0.02 earnings per share. The business’s revenue was up 71.1% on a year-over-year basis. On average, equities research analysts expect that Cal-Maine Foods, Inc. will post 8.54 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CALM. Russell Investments Group Ltd. boosted its holdings in shares of Cal-Maine Foods by 825.1% in the 1st quarter. Russell Investments Group Ltd. now owns 3,904 shares of the basic materials company’s stock valued at $230,000 after buying an additional 3,482 shares during the period. Vanguard Group Inc. boosted its stake in Cal-Maine Foods by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 4,795,570 shares of the basic materials company’s stock valued at $282,219,000 after purchasing an additional 23,915 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in Cal-Maine Foods by 4.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 36,824 shares of the basic materials company’s stock valued at $2,165,000 after purchasing an additional 1,511 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Cal-Maine Foods by 5.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,265 shares of the basic materials company’s stock valued at $1,723,000 after purchasing an additional 1,518 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Cal-Maine Foods by 162.0% during the 1st quarter. Janus Henderson Group PLC now owns 62,572 shares of the basic materials company’s stock valued at $3,681,000 after purchasing an additional 38,693 shares during the period. 84.67% of the stock is owned by institutional investors and hedge funds.

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.