Cal-Maine Foods (NASDAQ:CALM) Stock Price Up 5.3% – Time to Buy?

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s share price traded up 5.3% during trading on Monday . The company traded as high as $87.51 and last traded at $87.46. 63,268 shares were traded during mid-day trading, a decline of 93% from the average session volume of 959,489 shares. The stock had previously closed at $83.03.

Wall Street Analysts Forecast Growth

CALM has been the subject of several recent research reports. StockNews.com upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th. Stephens restated an “equal weight” rating and set a $97.00 price target on shares of Cal-Maine Foods in a research note on Thursday, March 6th.

Cal-Maine Foods Price Performance

The stock’s 50-day moving average is $100.44 and its 200 day moving average is $93.13. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 7.13 and a beta of -0.12.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.42. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The firm had revenue of $954.70 million for the quarter, compared to the consensus estimate of $751.50 million. During the same period in the previous year, the business earned $0.35 earnings per share. The company’s revenue for the quarter was up 82.5% compared to the same quarter last year. Analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Insider Transactions 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 shares were sold at an average price of $109.97, for a total transaction of $88,965.73. Following the completion of the transaction, the director now owns 42,761 shares in the company, 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 is accessible through this link. Corporate insiders own 13.45% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CALM. Man Group plc boosted its position in Cal-Maine Foods by 258.7% during the fourth quarter. Man Group plc now owns 582,711 shares of the basic materials company’s stock worth $59,973,000 after acquiring an additional 420,247 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Cal-Maine Foods by 515.1% during the fourth quarter. Millennium Management LLC now owns 477,477 shares of the basic materials company’s stock worth $49,142,000 after purchasing an additional 399,848 shares during the last quarter. Northern Trust Corp grew its position in shares of Cal-Maine Foods by 60.2% in the fourth quarter. Northern Trust Corp now owns 674,335 shares of the basic materials company’s stock valued at $69,403,000 after purchasing an additional 253,310 shares during the period. JPMorgan Chase & Co. increased its stake in Cal-Maine Foods by 88.6% in the third quarter. JPMorgan Chase & Co. now owns 340,155 shares of the basic materials company’s stock valued at $25,457,000 after purchasing an additional 159,787 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Cal-Maine Foods by 12.7% during the fourth quarter. American Century Companies Inc. now owns 1,266,621 shares of the basic materials company’s stock worth $130,361,000 after buying an additional 143,189 shares during the period. 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.