StockNews.com Lowers Cal-Maine Foods (NASDAQ:CALM) to Hold

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

Other equities analysts have also issued research reports about the stock. Stephens started coverage on shares of Cal-Maine Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price objective on the stock. The Goldman Sachs Group raised their price objective on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the company a “sell” rating in a research report on Wednesday, July 17th.

Cal-Maine Foods Price Performance

Shares of CALM opened at $88.56 on Tuesday. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 15.70 and a beta of -0.10. The company has a 50-day moving average of $76.31 and a two-hundred day moving average of $66.85. Cal-Maine Foods has a one year low of $44.30 and a one year high of $95.06.

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

Insider Buying and Selling

In related news, COO Michael Todd Walters sold 3,000 shares of the business’s 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 transaction, the chief operating officer now owns 5,310 shares of the company’s stock, valued at approximately $372,762. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,500 shares of Cal-Maine Foods stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total transaction of $106,395.00. Following the sale, the vice president now owns 16,754 shares in the company, valued at $1,188,361.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Michael Todd Walters sold 3,000 shares of Cal-Maine Foods stock in a transaction on Wednesday, July 31st. The stock was 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,000 shares of company stock valued at $422,970. 13.51% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cal-Maine Foods

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Cal-Maine Foods by 0.5% in the first quarter. Vanguard Group Inc. now owns 4,795,570 shares of the basic materials company’s stock valued at $282,219,000 after buying an additional 23,915 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Cal-Maine Foods by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,011 shares of the basic materials company’s stock worth $159,863,000 after purchasing an additional 114,995 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Cal-Maine Foods by 5.5% during the 2nd quarter. Renaissance Technologies LLC now owns 2,115,624 shares of the basic materials company’s stock worth $129,286,000 after purchasing an additional 110,900 shares during the last quarter. American Century Companies Inc. raised its holdings in Cal-Maine Foods by 8.9% during the 2nd quarter. American Century Companies Inc. now owns 1,013,713 shares of the basic materials company’s stock worth $61,948,000 after purchasing an additional 82,772 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Cal-Maine Foods by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 481,313 shares of the basic materials company’s stock worth $29,413,000 after purchasing an additional 10,287 shares during the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

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.