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

Cal-Maine Foods (NASDAQ:CALM) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

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

Cal-Maine Foods Trading Up 2.5 %

Shares of NASDAQ:CALM opened at $92.58 on Thursday. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 7.20 and a beta of 0.11. The stock’s 50-day moving average price is $93.27 and its two-hundred day moving average price is $95.69. Cal-Maine Foods has a 12-month low of $55.15 and a 12-month high of $116.41.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.79 by $4.59. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $953.76 million. During the same period in the previous year, the company earned $3.00 EPS. The business’s quarterly revenue was up 101.6% compared to the same quarter last year. As a group, research analysts forecast that Cal-Maine Foods will post 15.59 earnings per share for the current fiscal year.

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total value of $88,965.73. Following the completion of the transaction, the director now owns 42,761 shares in the company, valued at $4,702,427.17. This represents a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.45% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new stake in Cal-Maine Foods during the 1st quarter worth $77,000. Smartleaf Asset Management LLC grew its stake in shares of Cal-Maine Foods by 339.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company’s stock valued at $105,000 after acquiring an additional 797 shares in the last quarter. NBC Securities Inc. increased its position in shares of Cal-Maine Foods by 139,900.0% during the first quarter. NBC Securities Inc. now owns 1,400 shares of the basic materials company’s stock worth $127,000 after acquiring an additional 1,399 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Cal-Maine Foods in the fourth quarter worth about $134,000. Finally, GAMMA Investing LLC boosted its holdings in Cal-Maine Foods by 24.3% in the fourth quarter. GAMMA Investing LLC now owns 1,368 shares of the basic materials company’s stock valued at $141,000 after purchasing an additional 267 shares during the last quarter. 84.67% of the stock is 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.