Cal-Maine Foods (NASDAQ:CALM) Sets New 1-Year High – Here’s Why

Cal-Maine Foods, Inc. (NASDAQ:CALM) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $95.74 and last traded at $95.50, with a volume of 186536 shares changing hands. The stock had previously closed at $93.97.

Analyst Ratings Changes

Several brokerages have recently weighed in on CALM. Stephens started coverage on Cal-Maine Foods in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price target for the company. StockNews.com raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Friday.

Cal-Maine Foods Stock Up 1.2 %

The company has a market cap of $4.67 billion, a P/E ratio of 10.68 and a beta of -0.12. The business has a fifty day moving average of $83.93 and a 200 day moving average of $71.12.

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 the consensus estimate of $3.36 by ($0.30). Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The company had revenue of $785.87 million for the quarter, compared to analysts’ expectations of $704.65 million. During the same quarter last year, the firm posted $0.02 earnings per share. Cal-Maine Foods’s revenue for the quarter was up 71.1% on a year-over-year basis. On average, sell-side analysts anticipate that Cal-Maine Foods, Inc. will post 8.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Cal-Maine Foods

Several large investors have recently bought and sold shares of the business. Neo Ivy Capital Management purchased a new position in Cal-Maine Foods in the 3rd quarter worth about $788,000. Geode Capital Management LLC boosted its position in Cal-Maine Foods by 1.1% during the third quarter. Geode Capital Management LLC now owns 988,599 shares of the basic materials company’s stock worth $74,000,000 after purchasing an additional 10,984 shares in the last quarter. Barclays PLC increased its position in shares of Cal-Maine Foods by 48.3% during the third quarter. Barclays PLC now owns 103,558 shares of the basic materials company’s stock worth $7,749,000 after purchasing an additional 33,731 shares in the last quarter. MML Investors Services LLC raised its holdings in shares of Cal-Maine Foods by 9.6% during the 3rd quarter. MML Investors Services LLC now owns 4,464 shares of the basic materials company’s stock worth $334,000 after acquiring an additional 392 shares during the period. Finally, Hodges Capital Management Inc. boosted its stake in Cal-Maine Foods by 15.2% during the third quarter. Hodges Capital Management Inc. now owns 178,360 shares of the basic materials company’s stock worth $13,348,000 after buying an additional 23,526 shares during the period. Institutional investors own 84.67% of the company’s stock.

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.