Cal-Maine Foods (NASDAQ:CALM) Stock Price Down 4.5% – What’s Next?

Cal-Maine Foods, Inc. (NASDAQ:CALM) traded down 4.5% on Tuesday . The stock traded as low as $107.05 and last traded at $107.22. 60,841 shares changed hands during trading, a decline of 90% from the average session volume of 590,069 shares. The stock had previously closed at $112.24.

Analysts Set New Price Targets

Several brokerages have recently commented on CALM. StockNews.com downgraded Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Saturday, November 23rd. Stephens initiated 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 Trading Down 3.7 %

The company has a market capitalization of $5.30 billion, a PE ratio of 12.86 and a beta of -0.10. The firm has a 50 day simple moving average of $94.11 and a two-hundred day simple moving average of $76.89.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data 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). The company had revenue of $785.87 million for the quarter, compared to analyst estimates of $704.65 million. Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The company’s revenue for the quarter was up 71.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.02 EPS. Research analysts expect that Cal-Maine Foods, Inc. will post 8.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cal-Maine Foods

Institutional investors and hedge funds have recently modified their holdings of the business. Two Sigma Advisers LP increased its stake in shares of Cal-Maine Foods by 652.6% during the third quarter. Two Sigma Advisers LP now owns 160,300 shares of the basic materials company’s stock worth $11,997,000 after purchasing an additional 139,000 shares during the period. Dimensional Fund Advisors LP increased its holdings in Cal-Maine Foods by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,616,011 shares of the basic materials company’s stock worth $159,863,000 after buying an additional 114,995 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Cal-Maine Foods by 5.5% in the second quarter. Renaissance Technologies LLC now owns 2,115,624 shares of the basic materials company’s stock valued at $129,286,000 after purchasing an additional 110,900 shares in the last quarter. American Century Companies Inc. lifted its position in Cal-Maine Foods by 8.9% during the second quarter. American Century Companies Inc. now owns 1,013,713 shares of the basic materials company’s stock valued at $61,948,000 after purchasing an additional 82,772 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Cal-Maine Foods during the third quarter valued at approximately $58,810,000. 84.67% of the stock is owned by institutional investors.

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.