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

Cal-Maine Foods (NASDAQ:CALM) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

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

Cal-Maine Foods Trading Up 0.2 %

Shares of NASDAQ:CALM opened at $95.96 on Friday. The company has a market capitalization of $4.71 billion, a PE ratio of 10.99 and a beta of -0.12. Cal-Maine Foods has a 12-month low of $46.30 and a 12-month high of $96.63. The business’s fifty day simple moving average is $86.02 and its 200-day simple moving average is $72.20.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share (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 net margin of 16.09% and a return on equity of 24.25%. The business’s revenue was up 71.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.02 EPS. Research analysts predict that Cal-Maine Foods will post 8.54 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. purchased a new position in shares of Cal-Maine Foods in the 2nd quarter valued at about $25,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Cal-Maine Foods in the third quarter valued at approximately $29,000. Hexagon Capital Partners LLC raised its stake in shares of Cal-Maine Foods by 57.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock worth $32,000 after buying an additional 155 shares during the period. Krane Funds Advisors LLC purchased a new position in shares of Cal-Maine Foods during the 3rd quarter valued at approximately $33,000. Finally, Quarry LP grew 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 acquiring an additional 553 shares during the period. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

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.