Cal-Maine Foods (NASDAQ:CALM) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a buy rating to a hold rating in a research note published on Saturday morning.

Separately, Stephens started coverage on Cal-Maine Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price target for the company.

Cal-Maine Foods Price Performance

Cal-Maine Foods stock opened at $95.96 on Friday. The stock has a market capitalization of $4.71 billion, a PE ratio of 10.99 and a beta of -0.12. Cal-Maine Foods has a 12 month low of $46.30 and a 12 month high of $96.63. The business has a 50 day simple moving average of $86.02 and a 200-day simple moving average of $72.10.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Tuesday, October 1st. The basic materials company reported $3.06 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $785.87 million for the quarter, compared to analysts’ expectations of $704.65 million. During the same quarter in the previous year, the firm posted $0.02 earnings per share. The firm’s revenue for the quarter was up 71.1% compared to the same quarter last year. On average, equities research analysts anticipate that Cal-Maine Foods will post 8.54 EPS for the current fiscal year.

Institutional Trading of Cal-Maine Foods

Several large investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new position in Cal-Maine Foods during the third quarter worth $29,000. Hantz Financial Services Inc. acquired a new position in Cal-Maine Foods during the second quarter worth $25,000. Hexagon Capital Partners LLC boosted its stake in Cal-Maine Foods by 57.0% during the third quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock worth $32,000 after buying an additional 155 shares during the last quarter. Krane Funds Advisors LLC acquired a new position in Cal-Maine Foods during the third quarter worth $33,000. Finally, Quarry LP boosted its stake in Cal-Maine Foods by 1,975.0% during the second quarter. Quarry LP now owns 581 shares of the basic materials company’s stock worth $36,000 after buying an additional 553 shares during the last quarter. 84.67% of the stock is currently owned by hedge funds and other 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.