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

StockNews.com lowered shares of Cal-Maine Foods (NASDAQ:CALM) from a buy rating to a hold rating in a report issued on Tuesday morning.

A number of other equities research analysts have also issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the company a “sell” rating in a report on Wednesday, July 17th. Stephens assumed coverage on shares of Cal-Maine Foods in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price objective on the stock.

Cal-Maine Foods Trading Up 1.9 %

Shares of NASDAQ:CALM opened at $90.17 on Tuesday. Cal-Maine Foods has a twelve month low of $44.78 and a twelve month high of $95.06. The firm has a market cap of $4.42 billion, a P/E ratio of 15.99 and a beta of -0.10. The company has a 50 day moving average of $77.44 and a 200-day moving average of $67.34.

Cal-Maine Foods (NASDAQ:CALM) last released its 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 net margin of 16.09% and a return on equity of 24.25%. The business had revenue of $785.87 million for the quarter, compared to analyst estimates of $704.65 million. During the same period in the prior year, the company earned $0.02 earnings per share. The firm’s revenue for the quarter was up 71.1% on a year-over-year basis.

Insider Transactions at Cal-Maine Foods

In other news, COO Michael Todd Walters sold 3,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total transaction of $210,600.00. Following the transaction, the chief operating officer now owns 5,310 shares in the company, valued at $372,762. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Robert L. Holladay, Jr. sold 1,500 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total transaction of $106,395.00. Following the completion of the sale, the vice president now directly owns 16,754 shares of the company’s stock, valued at approximately $1,188,361.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michael Todd Walters sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $70.20, for a total transaction of $210,600.00. Following the sale, the chief operating officer now directly owns 5,310 shares of the company’s stock, valued at approximately $372,762. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.51% of the stock is currently owned by company insiders.

Institutional Trading of Cal-Maine Foods

Large investors have recently modified their holdings of the company. Hantz Financial Services Inc. bought a new stake in shares of Cal-Maine Foods during the 2nd quarter worth $25,000. Hexagon Capital Partners LLC boosted its holdings in Cal-Maine Foods by 57.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 155 shares during the period. Krane Funds Advisors LLC bought a new stake in Cal-Maine Foods in the 3rd quarter valued at $33,000. Quarry LP boosted its holdings in Cal-Maine Foods by 1,975.0% in the 2nd quarter. Quarry LP now owns 581 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 553 shares during the period. Finally, CWM LLC boosted its holdings in Cal-Maine Foods by 120.1% in the 2nd quarter. CWM LLC now owns 625 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 341 shares during the period. 84.67% of the stock is owned by 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.