Cal-Maine Foods (NASDAQ:CALM) Stock Price Down 3.8% – Here’s Why

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s stock price dropped 3.8% on Friday . The stock traded as low as $106.67 and last traded at $106.23. Approximately 236,511 shares were traded during trading, a decline of 69% from the average daily volume of 751,018 shares. The stock had previously closed at $110.48.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CALM. Stephens began coverage on shares of Cal-Maine Foods in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price target on the stock. StockNews.com upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th.

Cal-Maine Foods Trading Down 3.9 %

The stock has a market capitalization of $5.21 billion, a PE ratio of 8.23 and a beta of -0.11. The stock has a 50 day moving average price of $103.05 and a 200-day moving average price of $85.64.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.42. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The business had revenue of $954.70 million for the quarter, compared to analysts’ expectations of $751.50 million. During the same quarter last year, the company posted $0.35 EPS. The company’s revenue was up 82.5% compared to the same quarter last year. Research analysts forecast that Cal-Maine Foods, Inc. will post 8.54 earnings per share for the current year.

Insider Activity

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was 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 owns 42,761 shares in the company, valued at $4,702,427.17. This trade represents a 1.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 13.45% of the company’s stock.

Institutional Investors Weigh In On Cal-Maine Foods

Several institutional investors have recently modified their holdings of the stock. Neo Ivy Capital Management bought a new stake in Cal-Maine Foods in the third quarter worth $788,000. Friedenthal Financial purchased a new stake in shares of Cal-Maine Foods in the fourth quarter valued at $765,000. Centiva Capital LP bought a new stake in shares of Cal-Maine Foods in the 3rd quarter worth about $491,000. Franklin Resources Inc. boosted its stake in shares of Cal-Maine Foods by 91.7% during the 3rd quarter. Franklin Resources Inc. now owns 62,979 shares of the basic materials company’s stock worth $4,713,000 after purchasing an additional 30,122 shares during the period. Finally, Inspire Investing LLC grew its holdings in Cal-Maine Foods by 112.4% during the 4th quarter. Inspire Investing LLC now owns 11,805 shares of the basic materials company’s stock valued at $1,215,000 after purchasing an additional 6,247 shares during the last quarter. 84.67% of the stock is owned by 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.