Cal-Maine Foods Inc (NASDAQ:CALM) dropped 2.4% during mid-day trading on Thursday . The company traded as low as $41.57 and last traded at $41.80, with a volume of 387,483 shares changing hands. The stock had previously closed at $42.81.

CALM has been the topic of a number of analyst reports. Zacks Investment Research raised Cal-Maine Foods from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Vetr raised Cal-Maine Foods from a “buy” rating to a “strong-buy” rating and set a $47.11 price target on the stock in a research report on Thursday, July 28th. BB&T Corp. raised Cal-Maine Foods from an “underweight” rating to a “hold” rating in a research report on Thursday, June 16th. Finally, DA Davidson lowered Cal-Maine Foods from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $55.00 to $45.00 in a research report on Monday, May 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Cal-Maine Foods presently has a consensus rating of “Hold” and a consensus target price of $55.87.

The firm has a 50 day moving average of $42.95 and a 200 day moving average of $47.49. The firm has a market cap of $2.04 billion and a price-to-earnings ratio of 6.42.

Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results on Monday, July 18th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.18. The company earned $303 million during the quarter, compared to analysts’ expectations of $304.29 million. During the same quarter in the previous year, the company earned $0.95 earnings per share. The firm’s quarterly revenue was down 24.8% compared to the same quarter last year. On average, equities research analysts forecast that Cal-Maine Foods Inc will post $1.26 earnings per share for the current fiscal year.

Other hedge funds recently modified their holdings of the company. Schroder Investment Management Group bought a new stake in shares of Cal-Maine Foods during the fourth quarter valued at about $9,954,000. New York State Common Retirement Fund boosted 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. Morgan Stanley boosted 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. Advisors Asset Management Inc. bought a new stake in shares of Cal-Maine Foods during the fourth quarter valued at about $2,955,000. Finally, Wells Fargo & Company MN boosted its stake 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 valued at $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 operates through the segment of production, grading, packaging, marketing and distribution of shell eggs. It offers shell eggs, including specialty and non-specialty eggs. It classifies cage free, organic and brown eggs as specialty products.

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