Cal-Maine Foods (NASDAQ:CALM) Stock Rating Lowered by StockNews.com

Cal-Maine Foods (NASDAQ:CALM) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Separately, Stephens reissued an “equal weight” rating and set a $97.00 price objective on shares of Cal-Maine Foods in a report on Thursday, March 6th.

Cal-Maine Foods Stock Up 0.9 %

Shares of Cal-Maine Foods stock traded up $0.83 on Tuesday, reaching $94.03. The stock had a trading volume of 914,061 shares, compared to its average volume of 654,143. The stock has a market capitalization of $4.61 billion, a P/E ratio of 7.32 and a beta of -0.12. The company has a 50 day moving average price of $98.39 and a 200 day moving average price of $94.12. Cal-Maine Foods has a 1 year low of $55.00 and a 1 year high of $116.41.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results 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. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The business had revenue of $954.70 million for the quarter, compared to analyst estimates of $751.50 million. During the same period in the previous year, the company earned $0.35 earnings per share. The business’s revenue for the quarter was up 82.5% on a year-over-year basis. On average, analysts forecast that Cal-Maine Foods will post 15.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Letitia Callender Hughes sold 809 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $4,702,427.17. This trade represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 13.45% of the company’s stock.

Hedge Funds Weigh In On Cal-Maine Foods

Several large investors have recently made changes to their positions in CALM. Wellington Management Group LLP purchased a new position in Cal-Maine Foods in the fourth quarter valued at $391,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Cal-Maine Foods during the 4th quarter valued at about $144,000. Jefferies Financial Group Inc. increased its stake in shares of Cal-Maine Foods by 255.1% in the 4th quarter. Jefferies Financial Group Inc. now owns 19,884 shares of the basic materials company’s stock valued at $2,046,000 after purchasing an additional 14,284 shares in the last quarter. Mackenzie Financial Corp acquired a new position in Cal-Maine Foods in the 4th quarter worth about $1,733,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Cal-Maine Foods by 27.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,686 shares of the basic materials company’s stock worth $7,995,000 after purchasing an additional 16,650 shares during the period. 84.67% of the stock is currently owned by institutional investors and hedge funds.

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.