Cal-Maine Foods (NASDAQ:CALM) Cut to Sell at Wall Street Zen

Cal-Maine Foods (NASDAQ:CALM) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other brokerages have also weighed in on CALM. Stephens lowered their price objective on 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. Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a research report on Monday, July 13th. Wells Fargo & Company set a $100.00 target price on Cal-Maine Foods in a research note on Monday, July 13th. BMO Capital Markets raised their price target on shares of Cal-Maine Foods from $75.00 to $83.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, Royal Bank Of Canada set a $100.00 price target on shares of Cal-Maine Foods in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $94.71.

Cal-Maine Foods Price Performance

NASDAQ:CALM opened at $90.32 on Friday. The firm has a 50-day moving average of $80.57 and a two-hundred day moving average of $80.49. The stock has a market cap of $4.28 billion, a P/E ratio of 13.79 and a beta of 0.25. Cal-Maine Foods has a 1-year low of $71.92 and a 1-year high of $117.45.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Wednesday, July 22nd. The basic materials company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $563.83 million. During the same period in the previous year, the firm posted $7.04 earnings per share. The firm’s revenue was down 49.9% compared to the same quarter last year.

Institutional Trading of Cal-Maine Foods

Several hedge funds and other institutional investors have recently bought and sold shares of CALM. Dimensional Fund Advisors LP lifted its holdings in Cal-Maine Foods by 13.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,519,483 shares of the basic materials company’s stock worth $199,416,000 after buying an additional 300,910 shares during the last quarter. State Street Corp increased its holdings in shares of Cal-Maine Foods by 6.8% in the 2nd quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock valued at $171,038,000 after acquiring an additional 108,578 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Cal-Maine Foods by 29.7% in the 1st quarter. First Trust Advisors LP now owns 1,552,297 shares of the basic materials company’s stock valued at $122,864,000 after acquiring an additional 355,762 shares during the last quarter. Morgan Stanley raised its position in shares of Cal-Maine Foods by 9.4% during the 4th quarter. Morgan Stanley now owns 978,163 shares of the basic materials company’s stock valued at $77,832,000 after acquiring an additional 84,124 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Cal-Maine Foods by 8.4% during the 3rd quarter. Northern Trust Corp now owns 900,466 shares of the basic materials company’s stock valued at $84,734,000 after acquiring an additional 70,063 shares in the last quarter. 84.67% of the stock is owned by institutional investors.

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.