Cal-Maine Foods (NASDAQ:CALM) Downgraded to “Hold” Rating by StockNews.com

StockNews.com cut shares of Cal-Maine Foods (NASDAQ:CALM) from a buy rating to a hold rating in a report issued on Tuesday.

Separately, Stephens started coverage on shares of Cal-Maine Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price target on the stock.

Cal-Maine Foods Stock Down 1.0 %

CALM opened at $103.68 on Tuesday. The firm has a market cap of $5.08 billion, a PE ratio of 11.88 and a beta of -0.11. The business has a fifty day simple moving average of $98.25 and a 200-day simple moving average of $81.91. Cal-Maine Foods has a fifty-two week low of $53.38 and a fifty-two week high of $114.06.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.42. The business had revenue of $954.70 million during the quarter, compared to analyst estimates of $751.50 million. Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. Cal-Maine Foods’s revenue for the quarter was up 82.5% on a year-over-year basis. During the same quarter last year, the company posted $0.35 EPS. On average, equities research analysts anticipate that Cal-Maine Foods will post 8.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Cal-Maine Foods

Several hedge funds have recently bought and sold shares of CALM. Axiom Advisory LLC increased its holdings in shares of Cal-Maine Foods by 3.3% in the 3rd quarter. Axiom Advisory LLC now owns 4,061 shares of the basic materials company’s stock valued at $280,000 after purchasing an additional 128 shares during the period. Martingale Asset Management L P lifted its position in Cal-Maine Foods by 0.4% in the 3rd quarter. Martingale Asset Management L P now owns 39,321 shares of the basic materials company’s stock worth $2,943,000 after buying an additional 145 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Cal-Maine Foods by 57.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock valued at $32,000 after buying an additional 155 shares during the period. Garner Asset Management Corp grew its holdings 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 acquiring an additional 183 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Cal-Maine Foods by 1.3% in the third quarter. Stifel Financial Corp now owns 15,049 shares of the basic materials company’s stock worth $1,126,000 after acquiring an additional 188 shares during the last quarter. 84.67% of the stock is owned by hedge funds and other 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.