StockNews.com Downgrades Cal-Maine Foods (NASDAQ:CALM) to Hold

StockNews.com cut shares of Cal-Maine Foods (NASDAQ:CALM) from a buy rating to a hold rating in a research note released on Tuesday.

Separately, Stephens reissued an “equal weight” rating and issued a $97.00 target price on shares of Cal-Maine Foods in a research note on Thursday, March 6th.

Cal-Maine Foods Trading Down 0.6 %

CALM opened at $92.21 on Tuesday. Cal-Maine Foods has a 1-year low of $55.00 and a 1-year high of $116.41. The stock has a market capitalization of $4.52 billion, a PE ratio of 7.18 and a beta of -0.12. The firm has a 50-day moving average price of $97.60 and a two-hundred day moving average price of $94.09.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.42. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The business had revenue of $954.70 million during the quarter, compared to analyst estimates of $751.50 million. During the same quarter last year, the business posted $0.35 earnings per share. Cal-Maine Foods’s revenue for the quarter was up 82.5% compared to the same quarter last year. On average, research analysts predict that Cal-Maine Foods will post 15.59 EPS for the current year.

Insider Transactions at Cal-Maine Foods

In other news, Director Letitia Callender Hughes sold 809 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total value of $88,965.73. Following the transaction, the director now owns 42,761 shares of the company’s stock, valued at $4,702,427.17. This represents a 1.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.45% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cal-Maine Foods

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Natixis Advisors LLC acquired a new position in shares of Cal-Maine Foods during the 3rd quarter worth about $766,000. Charles Schwab Investment Management Inc. boosted its stake in Cal-Maine Foods by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 621,191 shares of the basic materials company’s stock worth $46,490,000 after acquiring an additional 20,528 shares during the last quarter. Citigroup Inc. grew its holdings in Cal-Maine Foods by 40.3% during the third quarter. Citigroup Inc. now owns 72,911 shares of the basic materials company’s stock valued at $5,457,000 after purchasing an additional 20,935 shares during the period. Cerity Partners LLC increased its stake in Cal-Maine Foods by 1.1% in the third quarter. Cerity Partners LLC now owns 28,754 shares of the basic materials company’s stock valued at $2,152,000 after purchasing an additional 313 shares in the last quarter. Finally, Kingsview Wealth Management LLC acquired a new stake in Cal-Maine Foods in the third quarter worth $563,000. 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.