Cal-Maine Foods (NASDAQ:CALM) Rating Increased to Buy at StockNews.com

Cal-Maine Foods (NASDAQ:CALM) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Several other research firms also recently commented on CALM. Stephens initiated coverage on shares of Cal-Maine Foods in a research report on Thursday. They set an “equal weight” rating and a $82.00 target price on the stock. The Goldman Sachs Group increased their price objective on Cal-Maine Foods from $47.00 to $52.00 and gave the company a “sell” rating in a report on Wednesday, July 17th.

Cal-Maine Foods Trading Up 5.6 %

CALM stock traded up $4.21 during mid-day trading on Thursday, hitting $79.62. The stock had a trading volume of 1,146,037 shares, compared to its average volume of 609,036. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 14.12 and a beta of -0.10. Cal-Maine Foods has a 1-year low of $42.25 and a 1-year high of $79.75. The company has a fifty day moving average of $71.38 and a 200 day moving average of $64.14.

Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30). Cal-Maine Foods had a net margin of 11.94% and a return on equity of 16.46%. The business had revenue of $785.87 million during the quarter, compared to analyst estimates of $704.65 million. During the same quarter last year, the firm earned $0.02 earnings per share. Cal-Maine Foods’s revenue was up 71.1% compared to the same quarter last year.

Insiders Place Their Bets

In other news, Director James E. Poole sold 1,500 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $70.65, for a total transaction of $105,975.00. Following the completion of the transaction, the director now owns 10,170 shares of the company’s stock, valued at $718,510.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Cal-Maine Foods news, COO Michael Todd Walters sold 3,000 shares of Cal-Maine Foods stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total transaction of $210,600.00. Following the sale, the chief operating officer now owns 5,310 shares in the company, valued at $372,762. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James E. Poole sold 1,500 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $70.65, for a total transaction of $105,975.00. Following the completion of the transaction, the director now owns 10,170 shares of the company’s stock, valued at approximately $718,510.50. The disclosure for this sale can be found here. Insiders have sold a total of 6,000 shares of company stock valued at $422,970 in the last three months. Company insiders own 13.51% of the company’s stock.

Institutional Trading of Cal-Maine Foods

Institutional investors have recently made changes to their positions in the business. Wasatch Advisors LP acquired a new position in shares of Cal-Maine Foods in the 4th quarter worth approximately $47,771,000. Balyasny Asset Management L.P. grew its stake in Cal-Maine Foods by 748.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 790,266 shares of the basic materials company’s stock worth $45,353,000 after buying an additional 697,170 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Cal-Maine Foods by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,616,011 shares of the basic materials company’s stock worth $159,863,000 after buying an additional 114,995 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Cal-Maine Foods by 5.5% in the second quarter. Renaissance Technologies LLC now owns 2,115,624 shares of the basic materials company’s stock valued at $129,286,000 after acquiring an additional 110,900 shares during the last quarter. Finally, Hodges Capital Management Inc. boosted its holdings in shares of Cal-Maine Foods by 129.0% in the 1st quarter. Hodges Capital Management Inc. now owns 154,225 shares of the basic materials company’s stock worth $9,076,000 after acquiring an additional 86,870 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

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.