Cal-Maine Foods (NASDAQ:CALM) Stock Price Up 1.5% – Here’s Why

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s share price shot up 1.5% during mid-day trading on Friday . The stock traded as high as $92.64 and last traded at $94.35. 50,523 shares were traded during mid-day trading, a decline of 92% from the average session volume of 673,550 shares. The stock had previously closed at $92.97.

Wall Street Analyst Weigh In

CALM has been the topic of several recent analyst reports. StockNews.com upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Wednesday. Stephens reiterated an “equal weight” rating and set a $97.00 target price on shares of Cal-Maine Foods in a report on Thursday, March 6th.

Cal-Maine Foods Price Performance

The business’s 50-day moving average is $95.51 and its two-hundred day moving average is $94.88. The firm has a market cap of $4.56 billion, a P/E ratio of 7.26 and a beta of 0.11.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Tuesday, January 7th. The basic materials company reported $4.47 EPS for the quarter, beating the consensus estimate of $4.05 by $0.42. The company had revenue of $954.70 million during the quarter, compared to the consensus estimate of $751.50 million. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The firm’s revenue for the quarter was up 82.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS. Equities research analysts predict that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Insider Transactions at Cal-Maine Foods

In related news, Director Letitia Callender Hughes sold 809 shares of Cal-Maine Foods stock in a transaction dated Tuesday, January 14th. The shares were 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 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 filing with the SEC, which is accessible through the SEC website. 13.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cal-Maine Foods

Several institutional investors and hedge funds have recently made changes to their positions in CALM. D.A. Davidson & CO. bought a new stake in shares of Cal-Maine Foods in the third quarter valued at about $302,000. FMR LLC grew its position in shares of Cal-Maine Foods by 716.8% during the 3rd quarter. FMR LLC now owns 29,226 shares of the basic materials company’s stock worth $2,187,000 after purchasing an additional 25,648 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Cal-Maine Foods by 56.4% during the third quarter. BNP Paribas Financial Markets now owns 35,149 shares of the basic materials company’s stock worth $2,631,000 after purchasing an additional 12,673 shares during the period. Centiva Capital LP acquired a new stake in shares of Cal-Maine Foods in the third quarter valued at approximately $491,000. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in shares of 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. Institutional investors and hedge funds 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.