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

StockNews.com upgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a hold rating to a buy rating in a research report report published on Thursday morning.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group lifted their price target on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the company a “sell” rating in a research report on Wednesday, July 17th. Stephens initiated coverage on shares of Cal-Maine Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price target on the stock.

Cal-Maine Foods Stock Up 2.4 %

CALM traded up $2.17 during trading on Thursday, reaching $91.54. The company’s stock had a trading volume of 164,679 shares, compared to its average volume of 604,914. The firm has a fifty day simple moving average of $80.92 and a two-hundred day simple moving average of $69.29. Cal-Maine Foods has a 1 year low of $45.07 and a 1 year high of $95.06. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 10.24 and a beta of -0.12.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30). Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The business had revenue of $785.87 million during the quarter, compared to analysts’ expectations of $704.65 million. During the same period last year, the business earned $0.02 earnings per share. The company’s revenue for the quarter was up 71.1% compared to the same quarter last year.

Insider Activity at Cal-Maine Foods

In related news, VP Robert L. Holladay, Jr. sold 1,500 shares of Cal-Maine Foods stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total value of $106,395.00. Following the completion of the sale, the vice president now owns 16,754 shares in the company, valued at approximately $1,188,361.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 13.45% of the stock is owned by insiders.

Institutional Trading of Cal-Maine Foods

Institutional investors have recently added to or reduced their stakes in the stock. Axiom Advisory LLC grew its stake in shares of Cal-Maine Foods by 3.3% in the third quarter. Axiom Advisory LLC now owns 4,061 shares of the basic materials company’s stock worth $280,000 after acquiring an additional 128 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in shares of Cal-Maine Foods by 57.0% in the third quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 155 shares in the last quarter. Garner Asset Management Corp grew its stake in shares of Cal-Maine Foods by 0.9% in the second quarter. Garner Asset Management Corp now owns 20,252 shares of the basic materials company’s stock worth $1,238,000 after acquiring an additional 183 shares in the last quarter. Regal Investment Advisors LLC grew its stake in shares of Cal-Maine Foods by 3.9% during the second quarter. Regal Investment Advisors LLC now owns 5,404 shares of the basic materials company’s stock worth $330,000 after purchasing an additional 203 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Cal-Maine Foods by 2.0% during the second quarter. Arizona State Retirement System now owns 11,765 shares of the basic materials company’s stock worth $719,000 after purchasing an additional 230 shares in the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

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.