Cal-Maine Foods (NASDAQ:CALM) Cut to Hold at StockNews.com

Cal-Maine Foods (NASDAQ:CALM) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Separately, Stephens reaffirmed an “equal weight” rating and set a $97.00 price target on shares of Cal-Maine Foods in a research report on Thursday, March 6th.

Cal-Maine Foods Trading Up 0.9 %

NASDAQ:CALM traded up $0.83 during trading hours on Tuesday, hitting $94.03. The company had a trading volume of 914,061 shares, compared to its average volume of 654,143. Cal-Maine Foods has a 1 year low of $55.00 and a 1 year high of $116.41. The company has a market cap of $4.61 billion, a P/E ratio of 7.32 and a beta of -0.12. The company has a 50-day moving average of $98.39 and a 200 day moving average of $94.12.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share for the quarter, beating 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 firm had revenue of $954.70 million for the quarter, compared to analysts’ expectations of $751.50 million. During the same quarter in the previous year, the company posted $0.35 EPS. The company’s revenue was up 82.5% compared to the same quarter last year. On average, analysts forecast that Cal-Maine Foods will post 15.59 earnings per share for the current year.

Insider Activity at Cal-Maine Foods

In related news, Director Letitia Callender Hughes sold 809 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were 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 of the company’s stock, valued at approximately $4,702,427.17. This trade represents a 1.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CALM. Quarry LP raised its holdings in shares of Cal-Maine Foods by 32.5% in the 3rd quarter. Quarry LP now owns 770 shares of the basic materials company’s stock valued at $58,000 after buying an additional 189 shares during the period. Smartleaf Asset Management LLC grew its position in Cal-Maine Foods by 339.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company’s stock valued at $105,000 after acquiring an additional 797 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in Cal-Maine Foods during the fourth quarter worth about $134,000. GAMMA Investing LLC increased its stake in Cal-Maine Foods by 24.3% during the fourth quarter. GAMMA Investing LLC now owns 1,368 shares of the basic materials company’s stock worth $141,000 after purchasing an additional 267 shares during the period. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of Cal-Maine Foods during the fourth quarter worth about $144,000. 84.67% of the stock is currently owned by institutional investors and hedge funds.

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.