Cal-Maine Foods (NASDAQ:CALM) Stock Rating Upgraded by StockNews.com

Cal-Maine Foods (NASDAQ:CALM) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Separately, Stephens initiated coverage on shares of Cal-Maine Foods in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price objective for the company.

Cal-Maine Foods Price Performance

Shares of CALM stock opened at $111.91 on Wednesday. The company has a market capitalization of $5.49 billion, a P/E ratio of 8.71 and a beta of -0.11. The company’s 50-day simple moving average is $100.45 and its two-hundred day simple moving average is $83.69. Cal-Maine Foods has a one year low of $53.38 and a one year high of $114.06.

Cal-Maine Foods (NASDAQ:CALM) last announced 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. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The company had revenue of $954.70 million during the quarter, compared to the consensus estimate of $751.50 million. During the same period last year, the firm earned $0.35 earnings per share. Cal-Maine Foods’s revenue was up 82.5% compared to the same quarter last year. On average, research analysts expect that Cal-Maine Foods will post 8.54 EPS for the current fiscal year.

Insider Transactions at Cal-Maine Foods

In related news, Director Letitia Callender Hughes sold 809 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 13.45% of the company’s stock.

Institutional Investors Weigh In On Cal-Maine Foods

Large investors have recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in Cal-Maine Foods by 17.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 129,833 shares of the basic materials company’s stock worth $7,934,000 after purchasing an additional 18,934 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Cal-Maine Foods by 4.6% in the second 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 period. Edgestream Partners L.P. purchased a new position in Cal-Maine Foods during the 2nd quarter valued at about $1,632,000. Vanguard Personalized Indexing Management LLC increased its holdings in Cal-Maine Foods by 5.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,129 shares of the basic materials company’s stock valued at $313,000 after acquiring an additional 287 shares in the last quarter. Finally, Shariaportfolio Inc. increased its holdings in Cal-Maine Foods by 5.5% during the 2nd quarter. Shariaportfolio Inc. now owns 48,804 shares of the basic materials company’s stock valued at $2,982,000 after acquiring an additional 2,545 shares in the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

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.