Cal-Maine Foods (NASDAQ:CALM) Given “Equal Weight” Rating at Stephens

Stephens restated their equal weight rating on shares of Cal-Maine Foods (NASDAQ:CALM) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $97.00 price objective on the basic materials company’s stock.

Separately, StockNews.com upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th.

Cal-Maine Foods Trading Up 1.0 %

NASDAQ:CALM opened at $88.78 on Thursday. The stock has a 50 day simple moving average of $104.13 and a 200 day simple moving average of $91.66. Cal-Maine Foods has a 1-year low of $54.88 and a 1-year high of $116.41. The stock has a market cap of $4.35 billion, a P/E ratio of 6.91 and a beta of -0.12.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $954.70 million during the quarter, compared to analysts’ expectations of $751.50 million. During the same quarter in the previous year, the business posted $0.35 earnings per share. Cal-Maine Foods’s quarterly revenue was up 82.5% on a year-over-year basis. As a group, sell-side analysts forecast that Cal-Maine Foods will post 15.59 EPS for the current year.

Insider Buying and Selling at Cal-Maine Foods

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of Cal-Maine Foods stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total value of $88,965.73. Following the transaction, the director now owns 42,761 shares in the company, valued at $4,702,427.17. The trade was a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 13.45% of the company’s stock.

Hedge Funds Weigh In On Cal-Maine Foods

Institutional investors have recently added to or reduced their stakes in the stock. Creative Planning increased its holdings in shares of Cal-Maine Foods by 34.7% during the third quarter. Creative Planning now owns 10,249 shares of the basic materials company’s stock worth $767,000 after buying an additional 2,641 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of Cal-Maine Foods by 5.9% during the third quarter. New York State Teachers Retirement System now owns 51,220 shares of the basic materials company’s stock valued at $3,833,000 after purchasing an additional 2,860 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Cal-Maine Foods during the third quarter worth about $29,000. Asset Management One Co. Ltd. acquired a new position in shares of Cal-Maine Foods in the third quarter valued at approximately $212,000. Finally, Cozad Asset Management Inc. raised its holdings in Cal-Maine Foods by 5.8% in the 3rd quarter. Cozad Asset Management Inc. now owns 29,913 shares of the basic materials company’s stock valued at $2,239,000 after buying an additional 1,652 shares during the last quarter. 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.