Cal-Maine Foods (NASDAQ:CALM) Sets New 12-Month High – Here’s What Happened

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $95.74 and last traded at $95.50, with a volume of 186536 shares changing hands. The stock had previously closed at $93.97.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Stephens began coverage on Cal-Maine Foods in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price target for the company. StockNews.com raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Friday, November 15th.

Cal-Maine Foods Stock Up 1.1 %

The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 10.97 and a beta of -0.12. The company has a 50-day moving average price of $85.49 and a 200 day moving average price of $71.72.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data 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). Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The firm had revenue of $785.87 million for the quarter, compared to analysts’ expectations of $704.65 million. During the same quarter in the prior year, the business posted $0.02 earnings per share. Cal-Maine Foods’s revenue was up 71.1% on a year-over-year basis. Equities analysts forecast that Cal-Maine Foods, Inc. will post 8.54 EPS for the current year.

Hedge Funds Weigh In On Cal-Maine Foods

Several institutional investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. bought a new stake in shares of Cal-Maine Foods in the 2nd quarter worth approximately $25,000. Harbor Capital Advisors Inc. acquired a new stake in Cal-Maine Foods during the 3rd quarter valued at $29,000. Hexagon Capital Partners LLC lifted its position in shares of Cal-Maine Foods by 57.0% during the third 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. Krane Funds Advisors LLC bought a new stake in shares of Cal-Maine Foods during the third quarter worth approximately $33,000. Finally, Quarry LP raised its position in shares of Cal-Maine Foods by 1,975.0% in the 2nd quarter. Quarry LP now owns 581 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 553 shares during the period. 84.67% of the stock is currently 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.