Cal-Maine Foods Target of Unusually High Options Trading (NASDAQ:CALM)

Cal-Maine Foods, Inc. (NASDAQ:CALM) was the target of unusually large options trading on Tuesday. Traders acquired 4,051 put options on the company. This is an increase of approximately 271% compared to the typical daily volume of 1,093 put options.

Cal-Maine Foods Stock Down 1.3%

NASDAQ CALM opened at $87.25 on Wednesday. Cal-Maine Foods has a 52 week low of $71.92 and a 52 week high of $126.40. The firm has a 50 day moving average of $79.93 and a two-hundred day moving average of $80.30. The stock has a market capitalization of $4.13 billion, a PE ratio of 6.08 and a beta of 0.25.

Hedge Funds Weigh In On Cal-Maine Foods

Large investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its position in shares of Cal-Maine Foods by 12.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,022 shares of the basic materials company’s stock worth $101,000 after buying an additional 116 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in Cal-Maine Foods by 0.6% during the 4th quarter. Illinois Municipal Retirement Fund now owns 23,884 shares of the basic materials company’s stock valued at $1,900,000 after acquiring an additional 131 shares in the last quarter. MML Investors Services LLC increased its holdings in Cal-Maine Foods by 1.8% during the 4th quarter. MML Investors Services LLC now owns 7,428 shares of the basic materials company’s stock valued at $591,000 after acquiring an additional 131 shares in the last quarter. CoreCap Advisors LLC raised its position in Cal-Maine Foods by 13.5% during the second quarter. CoreCap Advisors LLC now owns 1,153 shares of the basic materials company’s stock worth $93,000 after acquiring an additional 137 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Cal-Maine Foods by 58.2% during the third quarter. IFP Advisors Inc now owns 378 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Stephens reduced their price objective on Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 14th. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a research note on Monday, July 13th. Royal Bank Of Canada set a $100.00 price target on Cal-Maine Foods in a report on Tuesday, May 26th. Wells Fargo & Company set a $100.00 price target on Cal-Maine Foods in a research report on Monday, July 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cal-Maine Foods in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $94.29.

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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.