Cal-Maine Foods (NASDAQ:CALM) Shares Up 1.5% – Here’s What Happened

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s stock price was up 1.5% during trading on Friday . The company traded as high as $92.64 and last traded at $94.35. Approximately 50,523 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 673,550 shares. The stock had previously closed at $92.97.

Analysts Set New Price Targets

Several brokerages have issued reports on CALM. Stephens reaffirmed an “equal weight” rating and set a $97.00 target price on shares of Cal-Maine Foods in a research report on Thursday, March 6th. StockNews.com raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Wednesday.

Cal-Maine Foods Price Performance

The stock’s 50-day moving average is $95.22 and its 200 day moving average is $95.21. The company has a market cap of $4.53 billion, a PE ratio of 7.18 and a beta of 0.11.

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, topping analysts’ consensus estimates of $4.05 by $0.42. The business had revenue of $954.70 million for the quarter, compared to analyst estimates of $751.50 million. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The company’s revenue was up 82.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Insider Transactions at Cal-Maine Foods

In related news, Director Letitia Callender Hughes sold 809 shares of the firm’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $109.97, for a total transaction of $88,965.73. Following the completion of the transaction, the director now owns 42,761 shares of the company’s stock, valued at $4,702,427.17. This trade represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 13.45% of the company’s stock.

Institutional Investors Weigh In On Cal-Maine Foods

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new position in shares of Cal-Maine Foods in the 4th quarter valued at about $391,000. Mascagni Wealth Management Inc. purchased a new stake in Cal-Maine Foods in the 4th quarter worth approximately $144,000. Jefferies Financial Group Inc. grew its stake in shares of Cal-Maine Foods by 255.1% during the 4th quarter. Jefferies Financial Group Inc. now owns 19,884 shares of the basic materials company’s stock worth $2,046,000 after purchasing an additional 14,284 shares during the period. Mackenzie Financial Corp purchased a new position in shares of Cal-Maine Foods during the 4th quarter valued at approximately $1,733,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Cal-Maine Foods by 27.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,686 shares of the basic materials company’s stock valued at $7,995,000 after purchasing an additional 16,650 shares during the period. 84.67% of the stock is owned by hedge funds and other 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.