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

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

Several other analysts have also recently commented on the company. The Goldman Sachs Group raised 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 began coverage on Cal-Maine Foods in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price objective for the company.

Cal-Maine Foods Trading Up 1.8 %

CALM stock opened at $90.95 on Thursday. The company has a market capitalization of $4.46 billion, a P/E ratio of 10.42 and a beta of -0.12. The business has a 50 day simple moving average of $81.30 and a 200-day simple moving average of $69.57. Cal-Maine Foods has a twelve month low of $45.07 and a twelve month high of $95.06.

Cal-Maine Foods (NASDAQ:CALM) last issued 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 company had revenue of $785.87 million during the quarter, compared to analyst estimates 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 was up 71.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 EPS. Research analysts predict that Cal-Maine Foods will post 8.54 EPS for the current fiscal year.

Insider Buying and Selling

In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,500 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total value of $106,395.00. Following the completion of the transaction, the vice president now directly owns 16,754 shares in the company, valued at approximately $1,188,361.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 13.45% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CALM. Vanguard Group Inc. boosted its holdings 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 valued at $282,219,000 after purchasing an additional 23,915 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Cal-Maine Foods by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,616,011 shares of the basic materials company’s stock valued at $159,863,000 after acquiring an additional 114,995 shares during the last quarter. Renaissance Technologies LLC grew its position in Cal-Maine Foods by 5.5% during the second quarter. Renaissance Technologies LLC now owns 2,115,624 shares of the basic materials company’s stock valued at $129,286,000 after acquiring an additional 110,900 shares during the period. American Century Companies Inc. increased its stake in Cal-Maine Foods by 8.9% during the second quarter. American Century Companies Inc. now owns 1,013,713 shares of the basic materials company’s stock worth $61,948,000 after acquiring an additional 82,772 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Cal-Maine Foods by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 481,313 shares of the basic materials company’s stock worth $29,413,000 after purchasing an additional 10,287 shares in the last quarter. Institutional investors and hedge funds 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.