Cal-Maine Foods (NASDAQ:CALM) Upgraded at StockNews.com

Cal-Maine Foods (NASDAQ:CALM) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

A number of other brokerages also recently issued reports on CALM. The Goldman Sachs Group upped their price target on Cal-Maine Foods from $47.00 to $52.00 and gave the company a “sell” rating in a report on Wednesday, July 17th. Stephens assumed coverage on shares of Cal-Maine Foods in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 target price on the stock.

Cal-Maine Foods Stock Up 0.0 %

Shares of Cal-Maine Foods stock opened at $90.20 on Wednesday. Cal-Maine Foods has a 52-week low of $45.07 and a 52-week high of $95.06. The company has a market capitalization of $4.42 billion, a P/E ratio of 10.33 and a beta of -0.10. The company has a 50 day moving average of $78.55 and a 200 day moving average of $68.02.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results 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). The business had revenue of $785.87 million for the quarter, compared to analysts’ expectations of $704.65 million. Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The firm’s quarterly revenue was up 71.1% on a year-over-year basis. During the same period last year, the firm earned $0.02 earnings per share.

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,500 shares of Cal-Maine Foods stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total transaction of $106,395.00. Following the transaction, the vice president now owns 16,754 shares of the company’s stock, valued at $1,188,361.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 13.45% of the company’s stock.

Institutional Investors Weigh In On Cal-Maine Foods

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Shariaportfolio Inc. grew its position in Cal-Maine Foods by 2.9% in the 1st quarter. Shariaportfolio Inc. now owns 46,259 shares of the basic materials company’s stock valued at $2,722,000 after buying an additional 1,311 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Cal-Maine Foods by 10.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,356 shares of the basic materials company’s stock worth $1,159,000 after purchasing an additional 2,079 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Cal-Maine Foods by 65.7% in the first quarter. BNP Paribas Financial Markets now owns 55,362 shares of the basic materials company’s stock valued at $3,258,000 after purchasing an additional 21,956 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Cal-Maine Foods by 0.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 150,399 shares of the basic materials company’s stock valued at $8,851,000 after purchasing an additional 1,215 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position in Cal-Maine Foods by 25.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 10,079 shares of the basic materials company’s stock worth $593,000 after purchasing an additional 2,076 shares during the period. 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.