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

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

CALM has been the subject of a number of other research reports. Stephens started coverage on shares of Cal-Maine Foods in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price objective for the company. The Goldman Sachs Group increased their target price on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a research report on Wednesday, July 17th.

Cal-Maine Foods Stock Performance

Shares of CALM stock opened at $90.17 on Tuesday. Cal-Maine Foods has a 52-week low of $44.78 and a 52-week high of $95.06. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 15.99 and a beta of -0.10. The firm has a fifty day moving average of $77.44 and a 200-day moving average of $67.34.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30). Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The business had revenue of $785.87 million during the quarter, compared to analyst estimates of $704.65 million. During the same quarter in the prior year, the company posted $0.02 EPS. The company’s quarterly revenue was up 71.1% compared to the same quarter last year.

Insider Buying and Selling

In related news, COO Michael Todd Walters sold 3,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total transaction of $210,600.00. Following the completion of the sale, the chief operating officer now owns 5,310 shares in the company, valued at $372,762. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total value of $106,395.00. Following the completion of the sale, the vice president now owns 16,754 shares in the company, valued at approximately $1,188,361.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Michael Todd Walters sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total transaction of $210,600.00. Following the completion of the sale, the chief operating officer now owns 5,310 shares of the company’s stock, valued at $372,762. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 13.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cal-Maine Foods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Cal-Maine Foods by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 4,795,570 shares of the basic materials company’s stock valued at $282,219,000 after acquiring an additional 23,915 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Cal-Maine Foods by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,011 shares of the basic materials company’s stock valued at $159,863,000 after purchasing an additional 114,995 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Cal-Maine Foods by 5.5% in the 2nd quarter. Renaissance Technologies LLC now owns 2,115,624 shares of the basic materials company’s stock valued at $129,286,000 after purchasing an additional 110,900 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Cal-Maine Foods by 8.9% in the 2nd quarter. American Century Companies Inc. now owns 1,013,713 shares of the basic materials company’s stock valued at $61,948,000 after purchasing an additional 82,772 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Cal-Maine Foods by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 481,313 shares of the basic materials company’s stock valued at $29,413,000 after purchasing an additional 10,287 shares during the last quarter. Institutional investors and hedge funds 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.