Cal-Maine Foods (NASDAQ:CALM) Cut to “Hold” at StockNews.com

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

Separately, Stephens reiterated 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 Stock Down 0.6 %

Shares of NASDAQ CALM opened at $92.21 on Tuesday. Cal-Maine Foods has a 12 month low of $55.00 and a 12 month high of $116.41. The company has a market cap of $4.52 billion, a P/E ratio of 7.18 and a beta of -0.12. The business’s 50 day moving average is $97.60 and its two-hundred day moving average is $94.09.

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. 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 for the quarter, compared to analyst estimates of $751.50 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. Cal-Maine Foods’s revenue was up 82.5% compared to the same quarter last year. Sell-side analysts expect that Cal-Maine Foods will post 15.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of Cal-Maine Foods stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total transaction of $88,965.73. Following the sale, the director now directly owns 42,761 shares of the company’s stock, valued at approximately $4,702,427.17. The trade was a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cal-Maine Foods

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

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.