Cal-Maine Foods’ (CALM) “Equal Weight” Rating Reaffirmed at Stephens

Cal-Maine Foods (NASDAQ:CALM)‘s stock had its “equal weight” rating reissued by equities researchers at Stephens in a research note issued to investors on Thursday,Benzinga reports. They presently have a $97.00 price target on the basic materials company’s stock. Stephens’ target price indicates a potential upside of 8.93% from the company’s previous close.

Separately, StockNews.com raised shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th.

Cal-Maine Foods Stock Up 1.3 %

NASDAQ:CALM opened at $89.05 on Thursday. The company has a market cap of $4.37 billion, a PE ratio of 6.88 and a beta of -0.12. The business’s 50 day moving average is $104.44 and its two-hundred day moving average is $91.68. Cal-Maine Foods has a 52 week low of $54.88 and a 52 week high of $116.41.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.42. The firm had revenue of $954.70 million for the quarter, compared to analysts’ expectations of $751.50 million. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The firm’s revenue for the quarter was up 82.5% on a year-over-year basis. During the same period last year, the business posted $0.35 earnings per share. As a group, sell-side analysts expect that Cal-Maine Foods will post 15.59 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Letitia Callender Hughes sold 809 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $109.97, for a total transaction of $88,965.73. Following the completion of the transaction, the director now owns 42,761 shares in the company, valued at approximately $4,702,427.17. This represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.45% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Savant Capital LLC increased its stake in shares of Cal-Maine Foods by 2.5% in the fourth quarter. Savant Capital LLC now owns 3,798 shares of the basic materials company’s stock valued at $391,000 after purchasing an additional 92 shares during the period. Evergreen Capital Management LLC increased its position in Cal-Maine Foods by 1.7% in the 4th quarter. Evergreen Capital Management LLC now owns 5,755 shares of the basic materials company’s stock valued at $592,000 after acquiring an additional 97 shares during the period. Two Sigma Securities LLC raised its stake in Cal-Maine Foods by 2.8% during the 4th quarter. Two Sigma Securities LLC now owns 3,894 shares of the basic materials company’s stock valued at $401,000 after acquiring an additional 106 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in Cal-Maine Foods by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,290 shares of the basic materials company’s stock worth $442,000 after acquiring an additional 136 shares during the period. Finally, Martingale Asset Management L P grew its stake in shares of Cal-Maine Foods by 0.4% in the third quarter. Martingale Asset Management L P now owns 39,321 shares of the basic materials company’s stock worth $2,943,000 after purchasing an additional 145 shares in the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

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.