Cal-Maine Foods (NASDAQ:CALM) Sets New 52-Week High – Time to Buy?

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) hit a new 52-week high during trading on Tuesday . The stock traded as high as $100.87 and last traded at $98.88, with a volume of 39678 shares. The stock had previously closed at $98.14.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CALM shares. Stephens initiated coverage on Cal-Maine Foods in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price target for the company. StockNews.com lowered shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Saturday, November 23rd.

Cal-Maine Foods Stock Up 0.2 %

The stock has a market cap of $4.82 billion, a P/E ratio of 11.27 and a beta of -0.10. The stock has a fifty day simple moving average of $88.98 and a 200-day simple moving average of $73.86.

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 (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.30). The firm had revenue of $785.87 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 71.1% on a year-over-year basis. During the same period last year, the firm earned $0.02 EPS. Sell-side analysts anticipate that Cal-Maine Foods, Inc. will post 8.54 earnings per share for the current year.

Hedge Funds Weigh In On Cal-Maine Foods

Institutional investors and hedge funds have recently modified their holdings of the business. Two Sigma Advisers LP lifted its stake in Cal-Maine Foods by 652.6% in the third quarter. Two Sigma Advisers LP now owns 160,300 shares of the basic materials company’s stock valued at $11,997,000 after buying an additional 139,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Cal-Maine Foods by 4.6% in the 2nd 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 during the period. Renaissance Technologies LLC increased its holdings in 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 worth $129,286,000 after purchasing an additional 110,900 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Cal-Maine Foods by 8.9% in the second quarter. American Century Companies Inc. now owns 1,013,713 shares of the basic materials company’s stock valued at $61,948,000 after purchasing an additional 82,772 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Cal-Maine Foods during the third quarter worth about $58,810,000. 84.67% of the stock is currently owned by institutional investors and hedge funds.

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.