Cal-Maine Foods (NASDAQ:CALM) Reaches New 1-Year High – Here’s Why

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s share price hit a new 52-week high on Friday . The company traded as high as $114.40 and last traded at $114.22, with a volume of 218098 shares traded. The stock had previously closed at $111.91.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CALM shares. Stephens initiated coverage on shares of Cal-Maine Foods in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 target price on the stock. StockNews.com upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Wednesday.

Cal-Maine Foods Stock Up 1.5 %

The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 8.84 and a beta of -0.11. The stock’s 50-day simple moving average is $101.36 and its two-hundred day simple moving average is $84.40.

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 for the quarter, topping the consensus estimate of $4.05 by $0.42. The firm had revenue of $954.70 million during the quarter, compared to the consensus estimate of $751.50 million. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The company’s revenue for the quarter was up 82.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 EPS. On average, sell-side analysts forecast that Cal-Maine Foods, Inc. will post 8.54 EPS for the current year.

Insider Buying and Selling at Cal-Maine Foods

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of Cal-Maine Foods 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 sale, the director now owns 42,761 shares of the company’s stock, valued at $4,702,427.17. The trade was a 1.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 13.45% of the company’s stock.

Hedge Funds Weigh In On Cal-Maine Foods

Several hedge funds and other institutional investors have recently modified their holdings of CALM. Envestnet Asset Management Inc. lifted its stake in Cal-Maine Foods by 17.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 129,833 shares of the basic materials company’s stock worth $7,934,000 after purchasing an additional 18,934 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Cal-Maine Foods by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,616,011 shares of the basic materials company’s stock valued at $159,863,000 after purchasing an additional 114,995 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Cal-Maine Foods by 5.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,129 shares of the basic materials company’s stock worth $313,000 after buying an additional 287 shares in the last quarter. Seven Eight Capital LP boosted its stake in Cal-Maine Foods by 26.3% during the second quarter. Seven Eight Capital LP now owns 8,758 shares of the basic materials company’s stock worth $535,000 after buying an additional 1,822 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in Cal-Maine Foods by 84.0% in the 2nd quarter. XTX Topco Ltd now owns 10,638 shares of the basic materials company’s stock valued at $650,000 after buying an additional 4,856 shares in the last quarter. 84.67% of the stock is owned by hedge funds and other 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.