Cal-Maine Foods (NASDAQ:CALM) Trading Down 5.4% – Here’s Why

Cal-Maine Foods, Inc. (NASDAQ:CALM) traded down 5.4% during mid-day trading on Friday . The company traded as low as $109.79 and last traded at $109.57. 164,212 shares were traded during trading, a decline of 78% from the average session volume of 739,909 shares. The stock had previously closed at $115.80.

Analysts Set New Price Targets

Several research firms have recently weighed in on CALM. StockNews.com raised shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th. Stephens initiated coverage on shares of Cal-Maine Foods in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price objective on the stock.

Cal-Maine Foods Stock Performance

The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 8.20 and a beta of -0.11. The company’s 50-day moving average is $104.76 and its 200-day moving average is $87.31.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.42. The company had revenue of $954.70 million for the quarter, compared to analyst estimates of $751.50 million. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. Cal-Maine Foods’s quarterly revenue was up 82.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.35 earnings per share. On average, analysts predict that Cal-Maine Foods, Inc. will post 8.54 EPS for the current year.

Insider Buying and Selling at Cal-Maine Foods

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total transaction of $88,965.73. Following the completion of the sale, the director now directly owns 42,761 shares of the company’s stock, valued at approximately $4,702,427.17. The trade was a 1.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 13.45% of the company’s stock.

Institutional Investors Weigh In On Cal-Maine Foods

A number of institutional investors and hedge funds have recently modified their holdings of CALM. JPMorgan Chase & Co. grew its holdings in Cal-Maine Foods by 88.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 340,155 shares of the basic materials company’s stock worth $25,457,000 after acquiring an additional 159,787 shares during the period. Two Sigma Advisers LP grew 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. International Assets Investment Management LLC bought a new stake in Cal-Maine Foods in the third quarter valued at about $58,810,000. Hotchkis & Wiley Capital Management LLC lifted its stake in Cal-Maine Foods by 130.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 132,460 shares of the basic materials company’s stock valued at $9,913,000 after buying an additional 75,090 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in Cal-Maine Foods by 4.3% during the third quarter. Pacer Advisors Inc. now owns 1,561,672 shares of the basic materials company’s stock worth $116,876,000 after buying an additional 64,489 shares during the last quarter. 84.67% of the stock is owned by 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.