Cal-Maine Foods Inc. (CALM) Shares Up 5.1%
Cal-Maine Foods Inc. (NASDAQ:CALM) shares shot up 5.1% during mid-day trading on Wednesday . The stock traded as high as $43.61 and last traded at $43.59, with a volume of 373,573 shares. The stock had previously closed at $41.46.
Several research firms have issued reports on CALM. Zacks Investment Research lowered Cal-Maine Foods from a “hold” rating to a “strong sell” rating in a research note on Monday. Vetr lowered Cal-Maine Foods from a “strong-buy” rating to a “buy” rating and set a $46.33 price objective for the company. in a research note on Wednesday. DA Davidson lowered Cal-Maine Foods from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $55.00 to $45.00 in a research note on Monday, May 9th. Finally, BB&T Corp. upgraded 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 assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $55.87.
The firm has a market cap of $2.09 billion and a P/E ratio of 6.61. The company has a 50 day moving average of $42.66 and a 200 day moving average of $47.67.
Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Monday, July 18th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.18. The company earned $303 million during the quarter, compared to the consensus estimate of $304.29 million. During the same period in the prior year, the firm earned $0.95 earnings per share. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. On average, equities analysts expect that Cal-Maine Foods Inc. will post $1.72 EPS for the current fiscal year.
Several hedge funds recently modified their holdings of CALM. Schroder Investment Management Group bought a new stake in shares of Cal-Maine Foods during the fourth quarter worth approximately $9,954,000. New York State Common Retirement Fund raised its position 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 worth $12,559,000 after buying an additional 151,833 shares during the last quarter. Morgan Stanley raised its position 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 worth $18,059,000 after buying an additional 91,017 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in shares of Cal-Maine Foods during the fourth quarter worth $2,955,000. Finally, Wells Fargo & Company MN raised its position in shares of Cal-Maine Foods by 14.0% in the fourth quarter. Wells Fargo & Company MN now owns 269,207 shares of the company’s stock worth $12,475,000 after buying an additional 33,110 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.
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