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

StockNews.com downgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a buy rating to a hold rating in a report issued on Saturday morning.

Separately, Stephens assumed coverage on Cal-Maine Foods in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price objective for the company.

Cal-Maine Foods Stock Up 0.1 %

CALM stock opened at $96.62 on Friday. The stock has a market capitalization of $4.74 billion, a PE ratio of 11.11 and a beta of -0.12. Cal-Maine Foods has a 52 week low of $46.30 and a 52 week high of $99.63. The firm has a 50 day moving average of $86.55 and a 200 day moving average of $72.47.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share (EPS) 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 company had revenue of $785.87 million during the quarter, compared to analysts’ expectations of $704.65 million. During the same period in the prior year, the business posted $0.02 EPS. The company’s quarterly revenue was up 71.1% on a year-over-year basis. On average, equities research analysts expect that Cal-Maine Foods will post 8.54 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. acquired a new stake in Cal-Maine Foods during the 2nd quarter worth about $25,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Cal-Maine Foods in the third quarter worth about $29,000. Hexagon Capital Partners LLC grew its holdings in Cal-Maine Foods by 57.0% during 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 during the period. Krane Funds Advisors LLC purchased a new position in Cal-Maine Foods during the third quarter valued at approximately $33,000. Finally, Quarry LP lifted its holdings in Cal-Maine Foods by 1,975.0% in the second quarter. Quarry LP now owns 581 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 553 shares during the period. Hedge funds and other institutional investors 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.