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

Cal-Maine Foods (NASDAQ:CALM) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

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

Cal-Maine Foods Trading Down 0.0 %

CALM traded down $0.01 on Friday, reaching $90.43. The company had a trading volume of 407,775 shares, compared to its average volume of 602,156. Cal-Maine Foods has a one year low of $45.07 and a one year high of $95.06. The company has a market capitalization of $4.43 billion, a P/E ratio of 10.36 and a beta of -0.12. The company has a fifty day moving average of $83.42 and a 200-day moving average of $70.65.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data 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). Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The firm had revenue of $785.87 million during the quarter, compared to analyst estimates of $704.65 million. During the same quarter last year, the company earned $0.02 EPS. The company’s quarterly revenue was up 71.1% compared to the same quarter last year. Research analysts predict that Cal-Maine Foods will post 8.54 EPS for the current year.

Insider Buying and Selling at Cal-Maine Foods

In other news, VP Robert L. Holladay, Jr. sold 1,500 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total transaction of $106,395.00. Following the sale, the vice president now owns 16,754 shares in the company, valued at approximately $1,188,361.22. This represents a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.45% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC raised its stake in shares of Cal-Maine Foods by 48.3% in the third quarter. Barclays PLC now owns 103,558 shares of the basic materials company’s stock worth $7,749,000 after acquiring an additional 33,731 shares during the last quarter. MML Investors Services LLC raised its position in Cal-Maine Foods by 9.6% in the 3rd quarter. MML Investors Services LLC now owns 4,464 shares of the basic materials company’s stock worth $334,000 after purchasing an additional 392 shares during the last quarter. Hodges Capital Management Inc. lifted its holdings in Cal-Maine Foods by 15.2% during the 3rd quarter. Hodges Capital Management Inc. now owns 178,360 shares of the basic materials company’s stock worth $13,348,000 after buying an additional 23,526 shares in the last quarter. XTX Topco Ltd boosted its position in Cal-Maine Foods by 6.6% in the 3rd quarter. XTX Topco Ltd now owns 11,341 shares of the basic materials company’s stock valued at $849,000 after buying an additional 703 shares during the last quarter. Finally, Wolverine Trading LLC acquired a new stake in shares of Cal-Maine Foods in the 3rd quarter valued at $3,043,000. 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.