Cal-Maine Foods (NASDAQ:CALM) Hits New 12-Month Low – Here’s What Happened

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s share price reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $61.86 and last traded at $62.1020, with a volume of 329,534 shares. The stock had previously closed at $63.65.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CALM. Benchmark cut Cal-Maine Foods from a “strong-buy” rating to a “hold” rating in a report on Friday, September 4th. Weiss Ratings lowered shares of Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd. Wall Street Zen lowered shares of Cal-Maine Foods from a “sell” rating to a “strong sell” rating in a report on Saturday, September 26th. Raymond James Financial cut shares of Cal-Maine Foods to an “outperform” rating in a research report on Thursday, October 1st. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $75.00 target price (down from $83.00) on shares of Cal-Maine Foods in a research report on Thursday, September 24th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $84.17.

Cal-Maine Foods Price Performance

The company has a market cap of $2.88 billion, a P/E ratio of 52.75 and a beta of 0.25. The business’s 50 day moving average price is $72.88 and its 200-day moving average price is $77.60.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Wednesday, September 30th. The basic materials company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.49). Cal-Maine Foods had a return on equity of 2.21% and a net margin of 2.32%. The business had revenue of $539.61 million for the quarter, compared to the consensus estimate of $561.57 million. During the same quarter last year, the company earned $4.12 earnings per share. The firm’s revenue was down 41.5% on a year-over-year basis.

Hedge Funds Weigh In On Cal-Maine Foods

A number of institutional investors and hedge funds have recently bought and sold shares of CALM. CoreCap Advisors LLC lifted its position in Cal-Maine Foods by 13.5% during the 2nd quarter. CoreCap Advisors LLC now owns 1,153 shares of the basic materials company’s stock valued at $93,000 after purchasing an additional 137 shares during the period. DGS Capital Management LLC boosted its stake in shares of Cal-Maine Foods by 6.7% in the 1st quarter. DGS Capital Management LLC now owns 2,932 shares of the basic materials company’s stock valued at $232,000 after purchasing an additional 183 shares during the last quarter. Stegent Equity Advisors Inc. boosted its stake in shares of Cal-Maine Foods by 4.0% in the 1st quarter. Stegent Equity Advisors Inc. now owns 5,279 shares of the basic materials company’s stock valued at $418,000 after purchasing an additional 202 shares during the last quarter. Navellier & Associates Inc. grew its position in shares of Cal-Maine Foods by 0.7% during the 2nd quarter. Navellier & Associates Inc. now owns 33,262 shares of the basic materials company’s stock worth $2,680,000 after buying an additional 229 shares during the period. Finally, Private Advisor Group LLC grew its position in shares of Cal-Maine Foods by 4.2% during the 1st quarter. Private Advisor Group LLC now owns 6,215 shares of the basic materials company’s stock worth $492,000 after buying an additional 250 shares during the period. Institutional investors and hedge funds own 84.67% of the company’s stock.

About Cal-Maine Foods

Cal-Maine Foods, Inc (NASDAQ: CALM) is a major producer and distributor of shell eggs in the United States. The company supplies eggs to grocery retailers, foodservice distributors, restaurants, food processors and institutional customers.

Its product portfolio includes conventional shell eggs as well as specialty products such as cage-free, organic, free-range, nutritionally enhanced and omega-3 eggs. Cal-Maine also markets hard-cooked eggs and other value-added egg products through its brands and customer relationships.

Founded in 1969 and headquartered in Jackson, Mississippi, Cal-Maine operates egg production, processing, packaging and distribution facilities in multiple U.S.