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

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

Separately, Stephens assumed coverage on Cal-Maine Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price target for the company.

Cal-Maine Foods Trading Up 0.6 %

CALM opened at $96.49 on Friday. Cal-Maine Foods has a 1-year low of $46.30 and a 1-year high of $99.63. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 11.05 and a beta of -0.12. The company’s fifty day moving average price is $86.55 and its two-hundred day moving average price is $72.47.

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

Institutional Investors Weigh In On Cal-Maine Foods

Several institutional investors and hedge funds have recently added to or reduced their stakes in CALM. Russell Investments Group Ltd. increased its position in shares of Cal-Maine Foods by 825.1% during the first quarter. Russell Investments Group Ltd. now owns 3,904 shares of the basic materials company’s stock valued at $230,000 after acquiring an additional 3,482 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Cal-Maine Foods by 30.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 14,280 shares of the basic materials company’s stock worth $870,000 after purchasing an additional 3,357 shares during the period. 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 worth $282,219,000 after buying an additional 23,915 shares during the last quarter. UniSuper Management Pty Ltd bought a new position in Cal-Maine Foods during the first quarter valued at about $479,000. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Cal-Maine Foods by 4.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 36,824 shares of the basic materials company’s stock worth $2,165,000 after buying an additional 1,511 shares during the last quarter. Hedge funds and other institutional investors 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.