Cal-Maine Foods (NASDAQ:CALM) Given New $83.00 Price Target at BMO Capital Markets

Cal-Maine Foods (NASDAQ:CALM) had its target price boosted by BMO Capital Markets from $75.00 to $83.00 in a research note issued to investors on Thursday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the basic materials company’s stock.

Several other research firms have also recently issued reports on CALM. Weiss Ratings reiterated a “hold (c)” rating on shares of Cal-Maine Foods in a research report on Wednesday, July 8th. Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a research report on Monday, July 13th. Stephens cut their target price on shares of Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 14th. Royal Bank Of Canada set a $100.00 price target on shares of Cal-Maine Foods in a report on Tuesday, May 26th. Finally, Wells Fargo & Company set a $100.00 price target on shares of Cal-Maine Foods in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $94.71.

Cal-Maine Foods Trading Up 0.3%

Shares of CALM opened at $88.14 on Thursday. The business’s 50 day moving average is $80.30 and its 200 day moving average is $80.42. Cal-Maine Foods has a 12-month low of $71.92 and a 12-month high of $119.17. The company has a market capitalization of $4.18 billion, a PE ratio of 13.46 and a beta of 0.25.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.84). Cal-Maine Foods had a return on equity of 11.79% and a net margin of 10.88%.The business had revenue of $552.58 million during the quarter, compared to the consensus estimate of $563.83 million. During the same quarter in the previous year, the company earned $7.04 earnings per share. The company’s revenue for the quarter was down 49.9% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Cal-Maine Foods during the 4th quarter worth approximately $6,244,000. Assetmark Inc. grew its position in Cal-Maine Foods by 36.6% in the 4th quarter. Assetmark Inc. now owns 118,773 shares of the basic materials company’s stock valued at $9,451,000 after acquiring an additional 31,826 shares during the last quarter. UBS Group AG grew its position in Cal-Maine Foods by 17.3% in the 4th quarter. UBS Group AG now owns 405,459 shares of the basic materials company’s stock valued at $32,262,000 after acquiring an additional 59,659 shares during the last quarter. Directional Asset Management purchased a new stake in Cal-Maine Foods in the fourth quarter worth $1,094,000. Finally, Assenagon Asset Management S.A. increased its stake in Cal-Maine Foods by 46.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 38,853 shares of the basic materials company’s stock worth $3,092,000 after purchasing an additional 12,248 shares during the period. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Key Stories Impacting Cal-Maine Foods

Here are the key news stories impacting Cal-Maine Foods this week:

• Positive Sentiment: BMO Capital Markets raised its price target on Cal-Maine Foods from $75 to $83, but kept a market perform rating, suggesting the firm sees some valuation support even though it still implies downside from the current share price. Benzinga article
• Neutral Sentiment: Cal-Maine Foods was the target of unusually large options trading, indicating heightened investor attention after earnings, but not necessarily a clear directional catalyst. American Banking News article
• Neutral Sentiment: Analysts and commentary around the results focused on whether CALM is fairly valued after the earnings report and on management’s discussion of revenue declines and diversification efforts. Yahoo Finance article
• Negative Sentiment: Media coverage emphasized the surprise Q4 loss, low egg prices, and a significant drop in sales and margins, reinforcing the core reason for the stock’s weakness. Motley Fool article

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.