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

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

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

Cal-Maine Foods Price Performance

NASDAQ CALM opened at $92.80 on Tuesday. The firm’s fifty day moving average price is $98.00 and its 200 day moving average price is $94.11. Cal-Maine Foods has a 12 month low of $55.00 and a 12 month high of $116.41. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of 7.22 and a beta of -0.12.

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 the consensus estimate 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 company had revenue of $954.70 million for the quarter, compared to analyst estimates of $751.50 million. During the same quarter last year, the company posted $0.35 earnings per share. The business’s quarterly revenue was up 82.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Cal-Maine Foods will post 15.59 earnings per share for the current year.

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $109.97, for a total value of $88,965.73. Following the transaction, the director now directly owns 42,761 shares of the company’s stock, valued at approximately $4,702,427.17. The trade was a 1.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Natixis Advisors LLC acquired a new position in Cal-Maine Foods during the 3rd quarter worth approximately $766,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Cal-Maine Foods by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 621,191 shares of the basic materials company’s stock valued at $46,490,000 after buying an additional 20,528 shares in the last quarter. Citigroup Inc. grew its holdings in Cal-Maine Foods by 40.3% during the third quarter. Citigroup Inc. now owns 72,911 shares of the basic materials company’s stock worth $5,457,000 after acquiring an additional 20,935 shares during the period. Cerity Partners LLC raised its position in Cal-Maine Foods by 1.1% in the third quarter. Cerity Partners LLC now owns 28,754 shares of the basic materials company’s stock worth $2,152,000 after acquiring an additional 313 shares in the last quarter. Finally, Kingsview Wealth Management LLC acquired a new stake in Cal-Maine Foods in the third quarter valued at $563,000. 84.67% of the stock is currently owned by institutional investors and hedge funds.

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.