Cal-Maine Foods Sees Unusually High Options Volume (CALM)
Cal-Maine Foods Inc (NASDAQ:CALM) was the target of some unusual options trading on Tuesday. Stock traders bought 2,274 put options on the company. This is an increase of approximately 2,269% compared to the average volume of 96 put options.
NASDAQ CALM opened at $47.91 on Thursday. Cal-Maine Foods has a 12-month low of $39.50 and a 12-month high of $52.30. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 16.87 and a beta of 0.43.
Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Monday, October 1st. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.23). Cal-Maine Foods had a net margin of 9.76% and a return on equity of 18.99%. The business had revenue of $340.60 million for the quarter, compared to analysts’ expectations of $346.76 million. During the same quarter in the previous year, the company earned ($0.33) earnings per share. The business’s quarterly revenue was up 29.6% on a year-over-year basis. As a group, equities research analysts anticipate that Cal-Maine Foods will post 3.35 EPS for the current year.
A number of research firms recently commented on CALM. BidaskClub raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. ValuEngine raised Cal-Maine Foods from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 6th. Stephens cut Cal-Maine Foods from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 1st. Finally, Zacks Investment Research cut Cal-Maine Foods from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 10th. Three research analysts have rated the stock with a hold rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $54.50.
In other news, CFO Max P. Bowman bought 2,000 shares of Cal-Maine Foods stock in a transaction that occurred on Thursday, October 11th. The shares were acquired at an average price of $45.51 per share, with a total value of $91,020.00. Following the completion of the purchase, the chief financial officer now directly owns 2,000 shares in the company, valued at $91,020. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 33.03% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of CALM. NEXT Financial Group Inc purchased a new stake in Cal-Maine Foods during the third quarter valued at about $133,000. First Quadrant L P CA purchased a new stake in Cal-Maine Foods during the third quarter valued at about $161,000. NumerixS Investment Technologies Inc purchased a new stake in Cal-Maine Foods during the second quarter valued at about $190,000. United Services Automobile Association purchased a new stake in Cal-Maine Foods during the second quarter valued at about $208,000. Finally, Amalgamated Bank purchased a new stake in Cal-Maine Foods during the second quarter valued at about $219,000. Institutional investors and hedge funds own 61.38% of the company’s stock.
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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