Cal-Maine Foods (NASDAQ:CALM) Downgraded to “Hold” Rating by StockNews.com

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

Separately, Stephens began coverage on Cal-Maine Foods in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price objective on the stock.

Cal-Maine Foods Stock Down 1.0 %

CALM stock opened at $103.68 on Tuesday. The firm has a 50 day moving average of $98.25 and a two-hundred day moving average of $81.91. Cal-Maine Foods has a 12 month low of $53.38 and a 12 month high of $114.06. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 11.88 and a beta of -0.11.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings data on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.42. Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The firm had revenue of $954.70 million during the quarter, compared to analysts’ expectations of $751.50 million. During the same period in the prior year, the company posted $0.35 earnings per share. Cal-Maine Foods’s revenue for the quarter was up 82.5% on a year-over-year basis. On average, research analysts expect that Cal-Maine Foods will post 8.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new stake in Cal-Maine Foods during the third quarter valued at about $29,000. Hexagon Capital Partners LLC grew its holdings in Cal-Maine Foods by 57.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock valued at $32,000 after buying an additional 155 shares during the last quarter. Krane Funds Advisors LLC acquired a new stake in Cal-Maine Foods in the 3rd quarter valued at approximately $33,000. Quarry LP increased its position 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 worth $36,000 after buying an additional 553 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Cal-Maine Foods during the second quarter worth approximately $47,000. Institutional investors own 84.67% of the company’s stock.

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.