Cal-Maine Foods (NASDAQ:CALM) Stock Price Down 12.8% – What’s Next?

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) were down 12.8% during mid-day trading on Friday . The stock traded as low as $104.65 and last traded at $94.69. Approximately 268,723 shares were traded during trading, a decline of 67% from the average daily volume of 818,522 shares. The stock had previously closed at $108.60.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Wednesday, January 15th.

Cal-Maine Foods Price Performance

The company’s 50-day simple moving average is $106.92 and its 200-day simple moving average is $90.55. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 7.40 and a beta of -0.12.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Tuesday, January 7th. The basic materials company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.05 by $0.42. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The company had revenue of $954.70 million for the quarter, compared to analysts’ expectations of $751.50 million. During the same period last year, the firm earned $0.35 earnings per share. The business’s revenue for the quarter was up 82.5% on a year-over-year basis. Research analysts expect that Cal-Maine Foods, Inc. will post 15.59 earnings per share 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 that occurred on Tuesday, January 14th. The shares were sold at an average price of $109.97, for a total value of $88,965.73. Following the transaction, the director now directly owns 42,761 shares of the company’s stock, valued at $4,702,427.17. This trade represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 13.45% of the company’s stock.

Institutional Trading of Cal-Maine Foods

Hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. acquired a new stake in Cal-Maine Foods in the third quarter valued at approximately $29,000. Quarry LP boosted its position in Cal-Maine Foods by 32.5% in the third quarter. Quarry LP now owns 770 shares of the basic materials company’s stock valued at $58,000 after buying an additional 189 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Cal-Maine Foods by 339.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company’s stock valued at $105,000 after buying an additional 797 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in Cal-Maine Foods in the fourth quarter valued at approximately $134,000. Finally, GAMMA Investing LLC boosted its position in Cal-Maine Foods by 24.3% in the fourth quarter. GAMMA Investing LLC now owns 1,368 shares of the basic materials company’s stock valued at $141,000 after buying an additional 267 shares in the last quarter. Institutional investors and hedge funds 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.