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 report released on Wednesday.

A number of other brokerages have also commented on CALM. Stephens started 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 target for the company. The Goldman Sachs Group lifted their price target on Cal-Maine Foods from $47.00 to $52.00 and gave the company a “sell” rating in a research note on Wednesday, July 17th.

Cal-Maine Foods Stock Performance

Cal-Maine Foods stock opened at $87.11 on Wednesday. Cal-Maine Foods has a 52-week low of $45.07 and a 52-week high of $95.06. The firm has a 50 day moving average price of $79.52 and a two-hundred day moving average price of $68.49. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 9.98 and a beta of -0.10.

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 business had revenue of $785.87 million for the quarter, compared to the consensus estimate of $704.65 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. Cal-Maine Foods’s quarterly revenue was up 71.1% on a year-over-year basis.

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,500 shares of the company’s stock in a transaction dated 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 directly owns 16,754 shares of the company’s stock, valued at approximately $1,188,361.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 13.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Cal-Maine Foods by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 4,795,570 shares of the basic materials company’s stock valued at $282,219,000 after purchasing an additional 23,915 shares during the last quarter. Dimensional Fund Advisors LP grew its position 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 valued at $159,863,000 after buying an additional 114,995 shares during the period. Renaissance Technologies LLC increased its holdings in Cal-Maine Foods by 5.5% during the second quarter. Renaissance Technologies LLC now owns 2,115,624 shares of the basic materials company’s stock worth $129,286,000 after buying an additional 110,900 shares during the last quarter. American Century Companies Inc. raised its position in Cal-Maine Foods by 8.9% in the second quarter. American Century Companies Inc. now owns 1,013,713 shares of the basic materials company’s stock worth $61,948,000 after acquiring an additional 82,772 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Cal-Maine Foods by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 481,313 shares of the basic materials company’s stock valued at $29,413,000 after acquiring an additional 10,287 shares during the last quarter. 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.