Cal-Maine Foods (NASDAQ:CALM) Trading 1.5% Higher – Here’s What Happened

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s stock price rose 1.5% on Friday . The company traded as high as $92.64 and last traded at $94.35. Approximately 50,523 shares traded hands during trading, a decline of 92% from the average daily volume of 673,550 shares. The stock had previously closed at $92.97.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Stephens reiterated an “equal weight” rating and issued a $97.00 target price on shares of Cal-Maine Foods in a research report on Thursday, March 6th. StockNews.com upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Wednesday.

Cal-Maine Foods Stock Performance

The company has a 50 day moving average of $95.22 and a 200 day moving average of $95.21. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 7.18 and a beta of 0.11.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share for the quarter, topping 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 the consensus estimate of $751.50 million. During the same period last year, the firm posted $0.35 earnings per share. The company’s revenue for the quarter was up 82.5% on a year-over-year basis. On average, equities analysts predict that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of the company’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total value of $88,965.73. Following the completion of the sale, the director now directly owns 42,761 shares in the company, valued at $4,702,427.17. This represents a 1.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 13.45% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP raised its stake in Cal-Maine Foods by 32.5% during the third quarter. Quarry LP now owns 770 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 189 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Cal-Maine Foods by 339.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company’s stock valued at $105,000 after buying an additional 797 shares during the period. Daiwa Securities Group Inc. purchased a new stake in shares of Cal-Maine Foods during the 4th quarter valued at approximately $134,000. GAMMA Investing LLC grew its position in Cal-Maine Foods by 24.3% in the fourth quarter. GAMMA Investing LLC now owns 1,368 shares of the basic materials company’s stock worth $141,000 after acquiring an additional 267 shares during the period. Finally, Mascagni Wealth Management Inc. acquired a new stake in Cal-Maine Foods during the fourth quarter worth $144,000. Institutional investors and hedge funds 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.