StockNews.com Upgrades Cal-Maine Foods (NASDAQ:CALM) to “Buy”

StockNews.com upgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a hold rating to a buy rating in a research note released on Thursday.

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

Cal-Maine Foods Stock Up 1.8 %

NASDAQ CALM opened at $90.95 on Thursday. The company has a market cap of $4.46 billion, a PE ratio of 10.42 and a beta of -0.12. Cal-Maine Foods has a 52 week low of $45.07 and a 52 week high of $95.06. The firm’s 50-day simple moving average is $81.30 and its two-hundred day simple moving average is $69.65.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.30). The business had revenue of $785.87 million during the quarter, compared to the consensus estimate of $704.65 million. Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The business’s revenue for the quarter was up 71.1% on a year-over-year basis. During the same period last year, the firm earned $0.02 EPS. As a group, equities research analysts anticipate that Cal-Maine Foods will post 8.54 EPS for the current year.

Insiders Place Their Bets

In related news, VP Robert L. Holladay, Jr. sold 1,500 shares of Cal-Maine Foods stock in a transaction 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 completion of the sale, the vice president now owns 16,754 shares of the company’s stock, valued at approximately $1,188,361.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.45% of the company’s stock.

Institutional Trading of Cal-Maine Foods

Institutional investors and hedge funds have recently made changes to their positions in the stock. Axiom Advisory LLC grew its position in Cal-Maine Foods by 3.3% in the third quarter. Axiom Advisory LLC now owns 4,061 shares of the basic materials company’s stock worth $280,000 after acquiring an additional 128 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Cal-Maine Foods by 57.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 155 shares in the last quarter. Garner Asset Management Corp increased its position in shares of Cal-Maine Foods by 0.9% during the 2nd quarter. Garner Asset Management Corp now owns 20,252 shares of the basic materials company’s stock valued at $1,238,000 after purchasing an additional 183 shares during the last quarter. Regal Investment Advisors LLC raised its holdings in shares of Cal-Maine Foods by 3.9% during the 2nd quarter. Regal Investment Advisors LLC now owns 5,404 shares of the basic materials company’s stock valued at $330,000 after buying an additional 203 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in Cal-Maine Foods by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 11,765 shares of the basic materials company’s stock worth $719,000 after buying an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

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.