Cal-Maine Foods, Inc. (NASDAQ:CALM) Receives $101.40 Average Price Target from Analysts

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) have been given an average recommendation of “Hold” by the five research firms that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $97.40.

A number of analysts have recently commented on CALM shares. Stephens set a $95.00 target price on Cal-Maine Foods and gave the stock an “equal weight” rating in a research note on Tuesday. Benchmark began coverage on Cal-Maine Foods in a report on Monday, December 1st. They issued a “buy” rating and a $100.00 price target for the company. Lake Street Capital set a $97.00 price objective on shares of Cal-Maine Foods in a research note on Friday, October 3rd. BMO Capital Markets cut their target price on shares of Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating for the company in a report on Friday, October 3rd. Finally, Weiss Ratings cut shares of Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday.

Insider Buying and Selling at Cal-Maine Foods

In other news, insider Keira L. Lombardo bought 2,800 shares of the stock in a transaction dated Thursday, October 2nd. The shares were acquired at an average cost of $92.36 per share, with a total value of $258,608.00. Following the purchase, the insider directly owned 3,738 shares in the company, valued at $345,241.68. The trade was a 298.51% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Cal-Maine Foods

A number of large investors have recently bought and sold shares of the business. IFP Advisors Inc grew its holdings in Cal-Maine Foods by 195.1% in the second quarter. IFP Advisors Inc now owns 239 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 158 shares during the period. Sound Income Strategies LLC purchased a new position in shares of Cal-Maine Foods during the 3rd quarter valued at approximately $32,000. National Bank of Canada FI acquired a new stake in Cal-Maine Foods in the 3rd quarter valued at $42,000. Carolina Wealth Advisors LLC purchased a new stake in Cal-Maine Foods in the 3rd quarter worth $47,000. Finally, AdvisorNet Financial Inc acquired a new position in Cal-Maine Foods during the second quarter worth $54,000. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Trading Down 1.9%

CALM opened at $80.52 on Friday. Cal-Maine Foods has a 12-month low of $79.24 and a 12-month high of $126.40. The firm has a 50 day moving average of $86.36 and a two-hundred day moving average of $97.66. The firm has a market capitalization of $3.91 billion, a PE ratio of 3.10 and a beta of 0.24.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share for the quarter, missing analysts’ consensus estimates of $4.55 by ($0.43). The business had revenue of $922.60 million during the quarter, compared to analyst estimates of $931.62 million. Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The firm’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.06 EPS. As a group, analysts predict that Cal-Maine Foods will post 15.59 EPS for the current fiscal year.

About Cal-Maine Foods

Cal-Maine Foods, Inc, together with its subsidiaries, produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, free-range, pasture-raised, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4Grain brand names. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.