Cal-Maine Foods (NASDAQ:CALM) Lowered to “Hold” Rating by StockNews.com

Cal-Maine Foods (NASDAQ:CALM) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Separately, Stephens restated 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.

Cal-Maine Foods Price Performance

CALM opened at $92.80 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 cap of $4.55 billion, a P/E ratio of 7.22 and a beta of -0.12. The stock’s 50 day simple moving average is $98.00 and its 200 day simple moving average is $94.11.

Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.42. The company 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%. Cal-Maine Foods’s revenue was up 82.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 earnings per share. Research analysts expect that Cal-Maine Foods will post 15.59 EPS for the current fiscal year.

Insider Transactions at Cal-Maine Foods

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $109.97, for a total value of $88,965.73. Following the transaction, the director now directly owns 42,761 shares in the company, valued at approximately $4,702,427.17. This represents a 1.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.45% of the company’s stock.

Hedge Funds Weigh In On Cal-Maine Foods

Institutional investors have recently modified their holdings of the company. Quarry LP grew its stake in Cal-Maine Foods by 32.5% in the 3rd quarter. Quarry LP now owns 770 shares of the basic materials company’s stock worth $58,000 after acquiring an additional 189 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Cal-Maine Foods by 339.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 797 shares during the period. Daiwa Securities Group Inc. acquired a new position in Cal-Maine Foods in the fourth quarter valued at $134,000. GAMMA Investing LLC lifted its position in Cal-Maine Foods by 24.3% during the fourth quarter. GAMMA Investing LLC now owns 1,368 shares of the basic materials company’s stock worth $141,000 after buying an additional 267 shares during the period. Finally, Mascagni Wealth Management Inc. acquired a new stake in Cal-Maine Foods in the 4th quarter worth about $144,000. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Company Profile

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.