Cal-Maine Foods (NASDAQ:CALM) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

CALM has been the topic of several other research reports. The Goldman Sachs Group lifted their price target on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a research report on Wednesday, July 17th. Stephens began coverage on Cal-Maine Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 target price on the stock.

Cal-Maine Foods Stock Performance

CALM opened at $89.00 on Wednesday. The company has a market capitalization of $4.36 billion, a PE ratio of 10.19 and a beta of -0.10. The stock’s fifty day moving average is $78.89 and its 200-day moving average is $68.17. Cal-Maine Foods has a one year low of $45.07 and a one year 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 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 business had revenue of $785.87 million during the quarter, compared to the consensus estimate of $704.65 million. During the same quarter last year, the firm posted $0.02 earnings per share. Cal-Maine Foods’s revenue was up 71.1% compared to the same quarter last year.

Insider Activity

In related news, VP Robert L. Holladay, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were 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 owns 16,754 shares of the company’s stock, valued at approximately $1,188,361.22. This trade represents a 0.00 % 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 company insiders.

Hedge Funds Weigh In On Cal-Maine Foods

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in shares of 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 worth $159,863,000 after purchasing an additional 114,995 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Cal-Maine Foods by 5.5% during the 2nd quarter. Renaissance Technologies LLC now owns 2,115,624 shares of the basic materials company’s stock valued at $129,286,000 after buying an additional 110,900 shares during the period. American Century Companies Inc. grew its holdings in shares of Cal-Maine Foods by 8.9% during the 2nd quarter. American Century Companies Inc. now owns 1,013,713 shares of the basic materials company’s stock valued at $61,948,000 after acquiring an additional 82,772 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Cal-Maine Foods in the third quarter worth $58,810,000. Finally, Buck Wealth Strategies LLC increased its stake in shares of Cal-Maine Foods by 762.0% in the first quarter. Buck Wealth Strategies LLC now owns 81,029 shares of the basic materials company’s stock worth $4,769,000 after acquiring an additional 71,629 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

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.