Cal-Maine Foods (NASDAQ:CALM) Stock Price Down 12.8% – What’s Next?

Cal-Maine Foods, Inc. (NASDAQ:CALM) shares dropped 12.8% during trading on Friday . The company traded as low as $104.65 and last traded at $94.69. Approximately 268,723 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 818,522 shares. The stock had previously closed at $108.60.

Wall Street Analyst Weigh In

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

Cal-Maine Foods Stock Performance

The stock has a fifty day simple moving average of $106.92 and a 200-day simple moving average of $90.55. The stock has a market cap of $4.66 billion, a P/E ratio of 7.40 and a beta of -0.12.

Cal-Maine Foods (NASDAQ:CALM) last released 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 firm had revenue of $954.70 million during the quarter, compared to analysts’ expectations of $751.50 million. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The company’s revenue was up 82.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. On average, research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Insiders Place Their Bets

In other 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 completion of the transaction, the director now directly owns 42,761 shares in the company, valued at $4,702,427.17. This represents a 1.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 13.45% of the company’s stock.

Hedge Funds Weigh In On Cal-Maine Foods

Large investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. acquired a new position in shares of Cal-Maine Foods during the 3rd quarter worth about $29,000. Quarry LP boosted its stake 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 buying an additional 189 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Cal-Maine Foods by 339.1% during the 4th 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 during the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Cal-Maine Foods during the 4th quarter worth about $134,000. Finally, GAMMA Investing LLC boosted its stake in shares of Cal-Maine Foods by 24.3% during the 4th 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 last quarter. 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.