Cal-Maine Foods (NASDAQ:CALM) Given “Equal Weight” Rating at Stephens

Stephens reiterated their equal weight rating on shares of Cal-Maine Foods (NASDAQ:CALMFree Report) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $65.00 target price on the basic materials company’s stock.

Cal-Maine Foods Price Performance

Shares of NASDAQ CALM opened at $61.04 on Wednesday. The business’s 50-day moving average price is $57.77 and its two-hundred day moving average price is $52.99. Cal-Maine Foods has a one year low of $42.25 and a one year high of $63.14. The company has a market capitalization of $2.99 billion, a P/E ratio of 6.59 and a beta of -0.06.

Cal-Maine Foods (NASDAQ:CALMGet Free Report) last announced its quarterly earnings results on Tuesday, April 2nd. The basic materials company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.55. Cal-Maine Foods had a return on equity of 28.34% and a net margin of 16.94%. The company had revenue of $703.08 million during the quarter, compared to analysts’ expectations of $692.35 million. During the same quarter in the previous year, the firm earned $6.62 earnings per share. The business’s quarterly revenue was down 29.5% compared to the same quarter last year. On average, equities analysts anticipate that Cal-Maine Foods will post 3.35 EPS for the current year.

Insider Buying and Selling

In related news, EVP Charles Jeff Hardin sold 4,458 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $56.56, for a total transaction of $252,144.48. Following the completion of the transaction, the executive vice president now owns 17,830 shares of the company’s stock, valued at approximately $1,008,464.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cal-Maine Foods news, EVP Charles Jeff Hardin sold 4,458 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $56.56, for a total value of $252,144.48. Following the completion of the transaction, the executive vice president now owns 17,830 shares of the company’s stock, valued at approximately $1,008,464.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Letitia Callender Hughes sold 1,020 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $56.73, for a total value of $57,864.60. Following the completion of the sale, the director now owns 43,570 shares in the company, valued at $2,471,726.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,228 shares of company stock valued at $520,122. Insiders own 13.51% of the company’s stock.

Institutional Investors Weigh In On Cal-Maine Foods

Several large investors have recently modified their holdings of the stock. Captrust Financial Advisors grew its stake in shares of Cal-Maine Foods by 7.0% in the 2nd quarter. Captrust Financial Advisors now owns 2,804 shares of the basic materials company’s stock valued at $139,000 after purchasing an additional 183 shares during the period. National Bank of Canada FI grew its position in Cal-Maine Foods by 2.3% during the 4th quarter. National Bank of Canada FI now owns 9,547 shares of the basic materials company’s stock worth $541,000 after acquiring an additional 218 shares during the last quarter. Signaturefd LLC grew its position in Cal-Maine Foods by 44.2% during the 3rd quarter. Signaturefd LLC now owns 760 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 233 shares during the last quarter. Allianz Asset Management GmbH grew its position in Cal-Maine Foods by 1.2% during the 1st quarter. Allianz Asset Management GmbH now owns 20,969 shares of the basic materials company’s stock worth $1,158,000 after acquiring an additional 241 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Cal-Maine Foods by 37.6% during the 4th quarter. Quadrant Capital Group LLC now owns 941 shares of the basic materials company’s stock worth $54,000 after acquiring an additional 257 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors.

About Cal-Maine Foods

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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.

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