Cal-Maine Foods Inc. (CALM) Shares Gap Up to $43.24
Cal-Maine Foods Inc. (NASDAQ:CALM) shares gapped up prior to trading on Thursday . The stock had previously closed at $43.13, but opened at $43.24. Cal-Maine Foods shares last traded at $43.63, with a volume of 203,173 shares trading hands.
Several research firms have recently commented on CALM. Zacks Investment Research raised shares of Cal-Maine Foods from a “strong sell” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Monday, August 15th. Vetr lowered shares of 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, August 3rd. BB&T Corp. raised shares of Cal-Maine Foods from an “underweight” rating to a “hold” rating in a research note on Thursday, June 16th. Finally, DA Davidson lowered shares of Cal-Maine Foods from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $55.00 to $45.00 in a research note 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 an average price target of $52.47.
The stock has a 50-day moving average price of $43.00 and a 200 day moving average price of $47.21. The stock has a market capitalization of $2.12 billion and a P/E ratio of 6.69.
Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Monday, July 18th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.18. The firm earned $303 million during the quarter, compared to analysts’ expectations of $304.29 million. Cal-Maine Foods’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter last year, the company posted $0.95 earnings per share. Analysts forecast that Cal-Maine Foods Inc. will post $1.44 EPS for the current fiscal year.
Other hedge funds and institutional investors recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. bought a new position in Cal-Maine Foods during the fourth quarter worth approximately $1,040,000. Advisors Asset Management Inc. bought a new position in Cal-Maine Foods during the fourth quarter worth approximately $2,955,000. Wells Fargo & Company MN increased its position in 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 in the last quarter. Morgan Stanley increased its position in 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 in the last quarter. Finally, Principal Financial Group Inc. increased its position in 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 in 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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