Cal-Maine Foods Inc (NASDAQ:CALM) has been given a consensus recommendation of “Buy” by the six analysts that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $55.00.

Several analysts have weighed in on the stock. BidaskClub raised shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. ValuEngine cut shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, June 5th. Finally, Zacks Investment Research raised shares of Cal-Maine Foods from a “hold” rating to a “strong-buy” rating and set a $54.00 price objective on the stock in a research note on Thursday, August 9th.

In other news, major shareholder Jean Morris Adams sold 114,851 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $44.40, for a total transaction of $5,099,384.40. Following the transaction, the insider now directly owns 1,199,895 shares in the company, valued at $53,275,338. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 225,000 shares of company stock worth $10,027,482 over the last quarter. 33.03% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Cal-Maine Foods by 11.2% during the second quarter. BlackRock Inc. now owns 4,258,478 shares of the basic materials company’s stock worth $195,252,000 after purchasing an additional 430,382 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Cal-Maine Foods by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,000,072 shares of the basic materials company’s stock valued at $45,854,000 after buying an additional 5,546 shares during the period. Millennium Management LLC lifted its holdings in Cal-Maine Foods by 58.8% in the second quarter. Millennium Management LLC now owns 533,035 shares of the basic materials company’s stock valued at $24,440,000 after buying an additional 197,341 shares during the period. Northern Trust Corp lifted its holdings in Cal-Maine Foods by 16.4% in the second quarter. Northern Trust Corp now owns 530,149 shares of the basic materials company’s stock valued at $24,308,000 after buying an additional 74,594 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Cal-Maine Foods by 721.7% in the second quarter. Wells Fargo & Company MN now owns 517,197 shares of the basic materials company’s stock valued at $23,713,000 after buying an additional 454,254 shares during the period. Institutional investors own 59.31% of the company’s stock.

NASDAQ CALM traded down $0.55 on Friday, reaching $49.55. The company’s stock had a trading volume of 329,682 shares, compared to its average volume of 280,619. The stock has a market cap of $2.41 billion, a P/E ratio of 17.45 and a beta of 0.50. Cal-Maine Foods has a 52 week low of $38.51 and a 52 week high of $52.30.

Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Monday, July 23rd. The basic materials company reported $1.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.01. The business had revenue of $443.10 million for the quarter, compared to analysts’ expectations of $445.00 million. Cal-Maine Foods had a net margin of 8.38% and a return on equity of 16.48%. The firm’s revenue for the quarter was up 61.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.51) earnings per share. equities analysts predict that Cal-Maine Foods will post 3.35 EPS for the current year.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.

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