Cal-Maine Foods (NASDAQ:CALM) Price Target Cut to $98.00 by Analysts at The Goldman Sachs Group

Cal-Maine Foods (NASDAQ:CALM) had its target price cut by stock analysts at The Goldman Sachs Group from $110.00 to $98.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 5.88% from the company’s current price.

A number of other equities research analysts have also weighed in on CALM. BMO Capital Markets boosted their price objective on shares of Cal-Maine Foods from $100.00 to $105.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. Stephens boosted their price target on shares of Cal-Maine Foods from $108.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. Wall Street Zen cut Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Saturday, August 23rd. Finally, Lake Street Capital set a $97.00 price objective on Cal-Maine Foods in a report on Friday. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $101.75.

Cal-Maine Foods Stock Performance

Cal-Maine Foods stock opened at $92.56 on Friday. The stock has a market cap of $4.54 billion, a P/E ratio of 3.56 and a beta of 0.22. Cal-Maine Foods has a fifty-two week low of $79.44 and a fifty-two week high of $126.40. The firm’s fifty day moving average price is $107.03 and its 200-day moving average price is $100.42.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share for the quarter, missing analysts’ consensus estimates of $4.55 by ($0.43). The company had revenue of $922.60 million during the quarter, compared to analysts’ expectations of $931.62 million. Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.06 earnings per share. Sell-side analysts predict that Cal-Maine Foods will post 15.59 earnings per share for the current year.

Hedge Funds Weigh In On Cal-Maine Foods

Institutional investors and hedge funds have recently bought and sold shares of the stock. Archford Capital Strategies LLC boosted its holdings in Cal-Maine Foods by 167.2% in the 2nd quarter. Archford Capital Strategies LLC now owns 73,225 shares of the basic materials company’s stock worth $7,295,000 after buying an additional 45,823 shares during the period. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Cal-Maine Foods in the first quarter worth about $527,000. Bank of New York Mellon Corp grew its position in shares of Cal-Maine Foods by 8.7% during the first quarter. Bank of New York Mellon Corp now owns 562,810 shares of the basic materials company’s stock worth $51,159,000 after purchasing an additional 45,201 shares in the last quarter. KBC Group NV grew its position in shares of Cal-Maine Foods by 23.2% during the first quarter. KBC Group NV now owns 2,071 shares of the basic materials company’s stock worth $188,000 after purchasing an additional 390 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Cal-Maine Foods by 25.7% during the 1st quarter. GAMMA Investing LLC now owns 1,720 shares of the basic materials company’s stock valued at $156,000 after purchasing an additional 352 shares during the period. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

About Cal-Maine Foods

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.