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 released on Tuesday morning.

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

Cal-Maine Foods Trading Up 0.9 %

Shares of NASDAQ CALM opened at $94.03 on Tuesday. The stock has a market cap of $4.61 billion, a PE ratio of 7.32 and a beta of -0.12. Cal-Maine Foods has a 12-month low of $55.00 and a 12-month high of $116.41. The company has a 50-day moving average of $98.39 and a 200 day moving average of $94.12.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $954.70 million during the quarter, compared to analyst estimates of $751.50 million. During the same period in the prior year, the business earned $0.35 earnings per share. The business’s revenue was up 82.5% compared to the same quarter last year. On average, sell-side analysts forecast that Cal-Maine Foods will post 15.59 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Cal-Maine Foods

Several large investors have recently made changes to their positions in the stock. Savant Capital LLC increased its holdings in Cal-Maine Foods by 2.5% in the 4th quarter. Savant Capital LLC now owns 3,798 shares of the basic materials company’s stock valued at $391,000 after purchasing an additional 92 shares during the last quarter. Evergreen Capital Management LLC boosted its position in shares of Cal-Maine Foods by 1.7% during the fourth quarter. Evergreen Capital Management LLC now owns 5,755 shares of the basic materials company’s stock worth $592,000 after buying an additional 97 shares during the period. Two Sigma Securities LLC grew its stake in shares of Cal-Maine Foods by 2.8% in the fourth quarter. Two Sigma Securities LLC now owns 3,894 shares of the basic materials company’s stock valued at $401,000 after buying an additional 106 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Cal-Maine Foods by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,290 shares of the basic materials company’s stock valued at $442,000 after buying an additional 136 shares during the period. Finally, Martingale Asset Management L P lifted its stake in Cal-Maine Foods by 0.4% during the 3rd quarter. Martingale Asset Management L P now owns 39,321 shares of the basic materials company’s stock worth $2,943,000 after acquiring an additional 145 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

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.