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

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

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

Cal-Maine Foods Stock Down 0.0 %

NASDAQ:CALM opened at $90.43 on Friday. The firm has a market cap of $4.43 billion, a PE ratio of 10.36 and a beta of -0.12. The company’s 50-day moving average price is $83.42 and its two-hundred day moving average price is $70.86. Cal-Maine Foods has a 12 month low of $45.07 and a 12 month high of $95.06.

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

In other news, VP Robert L. Holladay, Jr. sold 1,500 shares of the company’s 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 transaction, the vice president now owns 16,754 shares of the company’s stock, valued at $1,188,361.22. This represents a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 13.45% of the stock is currently owned by company insiders.

Institutional Trading of Cal-Maine Foods

Several institutional investors and hedge funds have recently added to or reduced their stakes in CALM. SG Americas Securities LLC raised its stake in shares of Cal-Maine Foods by 362.8% during the second quarter. SG Americas Securities LLC now owns 15,801 shares of the basic materials company’s stock worth $966,000 after buying an additional 12,387 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Cal-Maine Foods by 162.0% during the 1st quarter. Janus Henderson Group PLC now owns 62,572 shares of the basic materials company’s stock valued at $3,681,000 after acquiring an additional 38,693 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in shares of Cal-Maine Foods in the 1st quarter valued at $479,000. Vanguard Group Inc. boosted its position in shares of 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 worth $282,219,000 after purchasing an additional 23,915 shares during the last quarter. Finally, AE Wealth Management LLC grew its stake in shares of Cal-Maine Foods by 267.4% during the second quarter. AE Wealth Management LLC now owns 17,747 shares of the basic materials company’s stock worth $1,085,000 after purchasing an additional 12,917 shares during the period. 84.67% of the stock is owned by institutional investors.

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.