Cal-Maine Foods (NASDAQ:CALM) Reaches New 52-Week High – Time to Buy?

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $108.50 and last traded at $108.50, with a volume of 779 shares traded. The stock had previously closed at $108.12.

Analyst Ratings Changes

CALM has been the topic of several research reports. Stephens initiated coverage on Cal-Maine Foods in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 target price on the stock. StockNews.com cut Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Saturday, November 23rd.

Cal-Maine Foods Trading Down 5.0 %

The business has a 50-day moving average price of $94.50 and a two-hundred day moving average price of $77.21. The stock has a market capitalization of $5.23 billion, a P/E ratio of 12.22 and a beta of -0.10.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results 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). The company had revenue of $785.87 million for the quarter, compared to the consensus estimate of $704.65 million. Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The business’s revenue was up 71.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 earnings per share. On average, sell-side analysts forecast that Cal-Maine Foods, Inc. will post 8.54 earnings per share for the current fiscal year.

Institutional Trading of Cal-Maine Foods

Institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. bought a new stake in shares of Cal-Maine Foods during the 3rd quarter valued at $29,000. Hantz Financial Services Inc. bought a new stake in shares of Cal-Maine Foods during the 2nd quarter worth $25,000. Hexagon Capital Partners LLC lifted its position in shares of Cal-Maine Foods by 57.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock worth $32,000 after buying an additional 155 shares during the last quarter. Krane Funds Advisors LLC bought a new stake in shares of Cal-Maine Foods during the 3rd quarter worth $33,000. Finally, Quarry LP lifted its position in shares of Cal-Maine Foods by 1,975.0% during the 2nd quarter. Quarry LP now owns 581 shares of the basic materials company’s stock worth $36,000 after buying an additional 553 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors.

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.