Cal-Maine Foods (NASDAQ:CALM) Reaches New 52-Week High – Still a Buy?

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s stock price reached a new 52-week high on Friday . The company traded as high as $114.40 and last traded at $114.22, with a volume of 218098 shares. The stock had previously closed at $111.91.

Analyst Upgrades and Downgrades

A number of research firms have commented on CALM. Stephens started coverage on shares of Cal-Maine Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 target price on the stock. StockNews.com raised shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Wednesday.

Cal-Maine Foods Trading Up 1.2 %

The company has a market cap of $5.55 billion, a PE ratio of 8.81 and a beta of -0.11. The firm’s 50-day simple moving average is $100.90 and its two-hundred day simple moving average is $83.89.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.42. The firm had revenue of $954.70 million for the quarter, compared to the consensus estimate of $751.50 million. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The firm’s revenue was up 82.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 EPS. As a group, analysts predict that Cal-Maine Foods, Inc. will post 8.54 EPS for the current year.

Insider Buying and Selling

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 42,761 shares of the company’s stock, valued at approximately $4,702,427.17. The trade was a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.45% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cal-Maine Foods

Institutional investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new stake in Cal-Maine Foods during the third quarter valued at $29,000. Hexagon Capital Partners LLC raised its position in shares of Cal-Maine Foods by 57.0% in the third quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 155 shares during the period. Krane Funds Advisors LLC purchased a new stake in shares of Cal-Maine Foods during the 3rd quarter worth about $33,000. Quarry LP grew its position in shares of Cal-Maine Foods by 1,975.0% during the 2nd quarter. Quarry LP now owns 581 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 553 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Cal-Maine Foods by 62.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,101 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 425 shares in the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

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.