Stephens Increases Cal-Maine Foods (NASDAQ:CALM) Price Target to $115.00

Cal-Maine Foods (NASDAQ:CALM) had its price objective raised by equities researchers at Stephens from $108.00 to $115.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the basic materials company’s stock. Stephens’ price objective would indicate a potential upside of 9.61% from the company’s current price.

A number of other equities analysts have also weighed in on CALM. Wall Street Zen upgraded shares of Cal-Maine Foods from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 5th. BMO Capital Markets boosted their target price on shares of Cal-Maine Foods from $100.00 to $105.00 and gave the stock a “market perform” rating in a research report on Thursday.

Cal-Maine Foods Trading Down 0.9%

CALM stock opened at $104.92 on Thursday. Cal-Maine Foods has a twelve month low of $67.40 and a twelve month high of $126.40. The company’s 50 day moving average is $100.06 and its two-hundred day moving average is $97.87. The stock has a market cap of $5.15 billion, a P/E ratio of 4.21 and a beta of 0.17.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.29 by $1.75. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $877.03 million. Cal-Maine Foods had a net margin of 28.63% and a return on equity of 54.81%. The company’s revenue for the quarter was up 72.1% compared to the same quarter last year. During the same period last year, the firm posted $2.32 earnings per share. On average, equities research analysts predict that Cal-Maine Foods will post 15.59 earnings per share for the current year.

Hedge Funds Weigh In On Cal-Maine Foods

A number of institutional investors and hedge funds have recently bought and sold shares of CALM. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Cal-Maine Foods in the 1st quarter valued at approximately $527,000. Bank of New York Mellon Corp raised its position in shares of Cal-Maine Foods by 8.7% in the 1st quarter. Bank of New York Mellon Corp now owns 562,810 shares of the basic materials company’s stock valued at $51,159,000 after purchasing an additional 45,201 shares in the last quarter. KBC Group NV raised its position in shares of Cal-Maine Foods by 23.2% in the 1st quarter. KBC Group NV now owns 2,071 shares of the basic materials company’s stock valued at $188,000 after purchasing an additional 390 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Cal-Maine Foods by 25.7% in the 1st quarter. GAMMA Investing LLC now owns 1,720 shares of the basic materials company’s stock valued at $156,000 after purchasing an additional 352 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Cal-Maine Foods in the 4th quarter valued at approximately $1,123,000. Hedge funds and other 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.