Cal-Maine Foods (NASDAQ:CALM) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Cal-Maine Foods (NASDAQ:CALM) from a buy rating to a hold rating in a research note issued to investors on Thursday.

Separately, Stephens reiterated an “equal weight” rating and set a $97.00 price objective on shares of Cal-Maine Foods in a research report on Thursday, March 6th.

Cal-Maine Foods Price Performance

Shares of NASDAQ CALM opened at $98.99 on Thursday. The firm’s 50-day moving average is $92.86 and its two-hundred day moving average is $96.01. Cal-Maine Foods has a 12-month low of $55.15 and a 12-month high of $116.41. The company has a market capitalization of $4.85 billion, a PE ratio of 7.70 and a beta of 0.11.

Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.79 by $4.59. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $953.76 million. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. Cal-Maine Foods’s revenue was up 101.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.00 EPS. On average, analysts forecast that Cal-Maine Foods will post 15.59 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Letitia Callender Hughes sold 809 shares of the 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 transaction, the director now directly owns 42,761 shares in the company, valued at $4,702,427.17. This represents a 1.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 13.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cal-Maine Foods

A number of institutional investors have recently bought and sold shares of CALM. Financial Management Professionals Inc. acquired a new position in shares of Cal-Maine Foods in the 1st quarter valued at $30,000. Future Financial Wealth Managment LLC purchased a new position in shares of Cal-Maine Foods in the 1st quarter worth $77,000. Smartleaf Asset Management LLC boosted its holdings in Cal-Maine Foods by 339.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company’s stock valued at $105,000 after acquiring an additional 797 shares during the last quarter. NBC Securities Inc. grew its position in Cal-Maine Foods by 139,900.0% during the first quarter. NBC Securities Inc. now owns 1,400 shares of the basic materials company’s stock valued at $127,000 after acquiring an additional 1,399 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in Cal-Maine Foods during the fourth quarter worth about $134,000. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

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.