Cal-Maine Foods (NASDAQ:CALM) Raised to “Buy” at StockNews.com

Cal-Maine Foods (NASDAQ:CALM) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Several other equities analysts have also recently issued reports on the company. The Goldman Sachs Group boosted their price target on Cal-Maine Foods from $47.00 to $52.00 and gave the company a “sell” rating in a research report on Wednesday, July 17th. Stephens began coverage on 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.

Cal-Maine Foods Trading Up 1.8 %

Shares of CALM opened at $90.95 on Thursday. The company’s 50 day simple moving average is $81.30 and its 200-day simple moving average is $69.50. The firm has a market cap of $4.46 billion, a PE ratio of 10.42 and a beta of -0.12. Cal-Maine Foods has a 12-month low of $45.07 and a 12-month high of $95.06.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30). The business had revenue of $785.87 million for the quarter, compared to analyst estimates of $704.65 million. Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The firm’s revenue for the quarter was up 71.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 EPS.

Insider Buying and Selling

In other news, VP Robert L. Holladay, Jr. sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total transaction of $106,395.00. Following the completion of the transaction, 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 filing with the SEC, which is accessible through this hyperlink. 13.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cal-Maine Foods

Institutional investors and hedge funds have recently made changes to their positions in the stock. King Luther Capital Management Corp lifted its stake in shares of Cal-Maine Foods by 1.5% in the third quarter. King Luther Capital Management Corp now owns 58,176 shares of the basic materials company’s stock valued at $4,354,000 after purchasing an additional 837 shares during the period. Quest Partners LLC increased its holdings in Cal-Maine Foods by 50,918.2% in the third quarter. Quest Partners LLC now owns 5,612 shares of the basic materials company’s stock valued at $420,000 after buying an additional 5,601 shares in the last quarter. Chesapeake Capital Corp IL lifted its position in shares of Cal-Maine Foods by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 7,733 shares of the basic materials company’s stock valued at $577,000 after acquiring an additional 1,687 shares during the period. Natixis Advisors LLC purchased a new stake in shares of Cal-Maine Foods during the 3rd quarter worth approximately $766,000. Finally, Empowered Funds LLC grew its holdings in shares of Cal-Maine Foods by 0.9% in the 3rd quarter. Empowered Funds LLC now owns 76,232 shares of the basic materials company’s stock worth $5,705,000 after acquiring an additional 654 shares during the period. 84.67% of the stock is owned by institutional investors and hedge funds.

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.