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

StockNews.com downgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Separately, Stephens assumed 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 on the stock.

Cal-Maine Foods Price Performance

CALM stock opened at $96.62 on Friday. The company has a market capitalization of $4.74 billion, a PE ratio of 11.11 and a beta of -0.12. Cal-Maine Foods has a 12 month low of $46.30 and a 12 month high of $99.63. The firm’s 50-day moving average is $86.55 and its 200 day moving average is $72.47.

Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results on Tuesday, October 1st. The basic materials company reported $3.06 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30). The company had revenue of $785.87 million for the quarter, compared to analysts’ expectations of $704.65 million. Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The business’s revenue was up 71.1% compared to the same quarter last year. During the same period last year, the business posted $0.02 earnings per share. Sell-side analysts forecast that Cal-Maine Foods will post 8.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC grew its stake in Cal-Maine Foods by 362.8% in the second quarter. SG Americas Securities LLC now owns 15,801 shares of the basic materials company’s stock valued at $966,000 after purchasing an additional 12,387 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Cal-Maine Foods by 162.0% during the 1st quarter. Janus Henderson Group PLC now owns 62,572 shares of the basic materials company’s stock worth $3,681,000 after acquiring an additional 38,693 shares in the last quarter. UniSuper Management Pty Ltd acquired a new stake in Cal-Maine Foods in the first quarter valued at approximately $479,000. Vanguard Group Inc. boosted its stake in Cal-Maine Foods by 0.5% in the first quarter. Vanguard Group Inc. now owns 4,795,570 shares of the basic materials company’s stock valued at $282,219,000 after acquiring an additional 23,915 shares in the last quarter. Finally, AE Wealth Management LLC increased its position in shares of Cal-Maine Foods by 267.4% during the second quarter. AE Wealth Management LLC now owns 17,747 shares of the basic materials company’s stock worth $1,085,000 after purchasing an additional 12,917 shares in the last quarter. 84.67% of the stock is currently 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.