Weiss Ratings Reaffirms Buy (B) Rating for Cal-Maine Foods (NASDAQ:CALM)

Cal-Maine Foods (NASDAQ:CALM)‘s stock had its “buy (b)” rating reaffirmed by Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Other equities research analysts have also issued reports about the company. Stephens upped their price target on Cal-Maine Foods from $108.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, July 24th. BMO Capital Markets dropped their price target on Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating for the company in a research report on Friday, October 3rd. Lake Street Capital set a $97.00 price target on Cal-Maine Foods in a research report on Friday, October 3rd. The Goldman Sachs Group dropped their price target on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, October 3rd. Finally, Wall Street Zen lowered Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Saturday, August 23rd. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $101.75.

Cal-Maine Foods Price Performance

Shares of Cal-Maine Foods stock opened at $89.35 on Wednesday. The business has a 50 day simple moving average of $102.79 and a two-hundred day simple moving average of $100.38. Cal-Maine Foods has a 12 month low of $79.55 and a 12 month high of $126.40. The stock has a market capitalization of $4.33 billion, a P/E ratio of 3.44 and a beta of 0.22.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.55 by ($0.43). The company had revenue of $922.60 million during the quarter, compared to analysts’ expectations of $931.62 million. Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. Cal-Maine Foods’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the company earned $3.06 earnings per share. As a group, research analysts anticipate that Cal-Maine Foods will post 15.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cal-Maine Foods news, insider Keira L. Lombardo acquired 2,800 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was bought at an average cost of $92.36 per share, for a total transaction of $258,608.00. Following the completion of the transaction, the insider owned 3,738 shares of the company’s stock, valued at approximately $345,241.68. The trade was a 298.51% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. J.W. Cole Advisors Inc. lifted its stake in Cal-Maine Foods by 3.2% during the second quarter. J.W. Cole Advisors Inc. now owns 3,280 shares of the basic materials company’s stock worth $327,000 after purchasing an additional 102 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Cal-Maine Foods by 12.8% during the second quarter. Smartleaf Asset Management LLC now owns 1,022 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 116 shares in the last quarter. Truist Financial Corp lifted its stake in Cal-Maine Foods by 3.5% during the second quarter. Truist Financial Corp now owns 3,541 shares of the basic materials company’s stock worth $353,000 after purchasing an additional 121 shares in the last quarter. GAMMA Investing LLC lifted its stake in Cal-Maine Foods by 4.9% during the third quarter. GAMMA Investing LLC now owns 3,019 shares of the basic materials company’s stock worth $284,000 after purchasing an additional 142 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its stake in Cal-Maine Foods by 2.5% during the first quarter. Evergreen Capital Management LLC now owns 5,898 shares of the basic materials company’s stock worth $536,000 after purchasing an additional 143 shares in the last quarter. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

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.