Cal-Maine Foods (NASDAQ:CALM) Receives “Equal Weight” Rating from Stephens

Cal-Maine Foods (NASDAQ:CALM)‘s stock had its “equal weight” rating restated by analysts at Stephens in a note issued to investors on Thursday,Benzinga reports. They presently have a $97.00 price target on the basic materials company’s stock. Stephens’ price target points to a potential upside of 7.31% from the stock’s previous close.

Separately, StockNews.com raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th.

Cal-Maine Foods Price Performance

Shares of NASDAQ:CALM opened at $90.39 on Thursday. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 7.03 and a beta of -0.12. The business’s fifty day moving average price is $103.88 and its two-hundred day moving average price is $91.81. Cal-Maine Foods has a fifty-two week low of $54.88 and a fifty-two week high of $116.41.

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

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $109.97, for a total transaction of $88,965.73. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cal-Maine Foods

A number of large investors have recently modified their holdings of CALM. Jefferies Financial Group Inc. raised its position in Cal-Maine Foods by 255.1% in 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 last quarter. Mackenzie Financial Corp acquired a new stake in shares of Cal-Maine Foods in the 4th quarter valued at $1,733,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Cal-Maine Foods by 27.3% during the fourth 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 worth $7,995,000 after acquiring an additional 16,650 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Cal-Maine Foods during the fourth quarter valued at $3,180,000. Finally, State of Wyoming lifted its stake in shares of Cal-Maine Foods by 45.3% during the fourth quarter. State of Wyoming now owns 4,869 shares of the basic materials company’s stock valued at $501,000 after acquiring an additional 1,519 shares during the period. 84.67% of the stock is currently owned by institutional investors and hedge funds.

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.