Cal-Maine Foods (NASDAQ:CALM) Stock Rating Upgraded by StockNews.com

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

A number of other research firms have also issued reports on CALM. Stephens began coverage on Cal-Maine Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 target price on the stock. The Goldman Sachs Group lifted their price objective on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a research note on Wednesday, July 17th.

Cal-Maine Foods Trading Down 0.8 %

Shares of NASDAQ:CALM opened at $87.11 on Wednesday. The company has a 50 day moving average of $79.52 and a 200-day moving average of $68.49. The firm has a market cap of $4.27 billion, a P/E ratio of 9.98 and a beta of -0.12. Cal-Maine Foods has a twelve month low of $45.07 and a twelve month high of $95.06.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30). Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The firm had revenue of $785.87 million during the quarter, compared to analyst estimates of $704.65 million. During the same quarter last year, the company earned $0.02 earnings per share. The business’s revenue for the quarter was up 71.1% on a year-over-year basis.

Insider Transactions at Cal-Maine Foods

In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total value of $106,395.00. Following the completion of the transaction, the vice president now directly owns 16,754 shares in the company, valued at $1,188,361.22. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 13.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Hantz Financial Services Inc. acquired a new stake in Cal-Maine Foods during the 2nd quarter worth about $25,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Cal-Maine Foods in the third quarter worth approximately $29,000. Hexagon Capital Partners LLC boosted its holdings in shares of Cal-Maine Foods by 57.0% during the third quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 155 shares during the period. Krane Funds Advisors LLC purchased a new position in Cal-Maine Foods during the third quarter valued at approximately $33,000. Finally, Quarry LP increased its stake in Cal-Maine Foods by 1,975.0% in the 2nd quarter. Quarry LP now owns 581 shares of the basic materials company’s stock valued at $36,000 after buying an additional 553 shares during the period. 84.67% of the stock is 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.