Cal-Maine Foods Inc. (CALM) Trading 2% Higher
Cal-Maine Foods Inc. (NASDAQ:CALM) traded up 2% on Wednesday . The stock traded as high as $42.73 and last traded at $42.67, with a volume of 251,403 shares trading hands. The stock had previously closed at $41.83.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Cal-Maine Foods from a “strong sell” rating to a “buy” rating and set a $47.00 price target for the company 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 target on the stock. in a report on Wednesday, August 3rd. BB&T Corp. upgraded Cal-Maine Foods from an “underweight” rating to a “hold” rating in a report on Thursday, June 16th. Finally, DA Davidson lowered Cal-Maine Foods from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $55.00 to $45.00 in a report on Monday, May 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $52.47.
The stock’s 50 day moving average is $43.02 and its 200-day moving average is $47.24. The firm has a market capitalization of $2.12 billion and a P/E ratio of 6.69.
Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Monday, July 18th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.18. The firm had revenue of $303 million for the quarter, compared to the consensus estimate of $304.29 million. Cal-Maine Foods’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 earnings per share. On average, equities research analysts expect that Cal-Maine Foods Inc. will post $1.44 EPS for the current fiscal year.
A number of large investors have modified their holdings of CALM. Dimensional Fund Advisors LP raised its stake in shares of 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 worth $55,132,000 after buying an additional 4,636 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in shares of Cal-Maine Foods during the fourth quarter worth approximately $2,955,000. Principal Financial Group Inc. increased its position 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 worth $23,335,000 after buying an additional 2,337 shares during the last quarter. Wells Fargo & Company MN increased 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. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Cal-Maine Foods during the fourth quarter worth approximately $1,040,000.
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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