Cal-Maine Foods Inc. (NASDAQ:CALM) traded down 2.4% on Wednesday . The company traded as low as $40.02 and last traded at $40.78, with a volume of 1,121,765 shares. The stock had previously closed at $41.77.

Several research analysts have recently issued reports on the stock. DA Davidson downgraded shares of Cal-Maine Foods from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 29th. Sidoti downgraded shares of Cal-Maine Foods from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 29th. Zacks Investment Research upgraded shares of Cal-Maine Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, May 9th. Finally, BB&T Corp. upgraded shares of Cal-Maine Foods from an “underweight” rating to a “hold” rating in a research note on Thursday, June 16th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $59.21.

The company has a market cap of $2.00 billion and a P/E ratio of 5.52. The firm’s 50-day moving average price is $43.11 and its 200 day moving average price is $48.17.

Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Monday, July 18th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.18. The firm earned $303 million during the quarter, compared to analyst estimates of $304.29 million. During the same quarter in the prior year, the firm earned $0.95 earnings per share. The business’s revenue for the quarter was down 24.8% on a year-over-year basis. Analysts expect that Cal-Maine Foods Inc. will post $1.74 EPS for the current year.

In related news, CEO Adolphus B. Baker sold 100,000 shares of the business’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $51.95, for a total value of $5,195,000.00. Following the completion of the transaction, the chief executive officer now directly owns 307,344 shares in the company, valued at approximately $15,966,520.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Several institutional investors have recently bought and sold shares of CALM. Dimensional Fund Advisors LP boosted its position in Cal-Maine Foods by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,189,692 shares of the company’s stock valued at $55,132,000 after buying an additional 4,636 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Cal-Maine Foods by 0.5% in the fourth quarter. Principal Financial Group Inc. now owns 503,581 shares of the company’s stock valued at $23,335,000 after buying an additional 2,337 shares during the last quarter. Morgan Stanley raised its stake in shares of Cal-Maine Foods by 30.5% in the fourth quarter. Morgan Stanley now owns 389,696 shares of the company’s stock valued at $18,059,000 after buying an additional 91,017 shares during the last quarter. Aberdeen Asset Management PLC UK raised its stake in shares of Cal-Maine Foods by 41.7% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 312,868 shares of the company’s stock valued at $19,307,000 after buying an additional 92,096 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Cal-Maine Foods by 127.4% in the fourth quarter. New York State Common Retirement Fund now owns 271,022 shares of the company’s stock valued at $12,559,000 after buying an additional 151,833 shares during the last quarter.

Cal-Maine Foods, Inc is a producer and marketer of shell eggs in the United States. The Company’s primary business is the production, grading, packaging, marketing and distribution of shell eggs. The Company sells its shell eggs in the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.