Cal-Maine Foods (NASDAQ:CALM) Stock Rating Lowered by Wall Street Zen

Cal-Maine Foods (NASDAQ:CALM) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other research analysts have also issued reports on the company. Stephens reduced their price objective on Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 14th. Royal Bank Of Canada set a $100.00 target price on Cal-Maine Foods in a research report on Tuesday, May 26th. Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a research note on Monday, July 13th. Weiss Ratings downgraded shares of Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Finally, BMO Capital Markets boosted their price target on shares of Cal-Maine Foods from $75.00 to $83.00 and gave the company a “market perform” rating in a report on Thursday. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Cal-Maine Foods currently has an average rating of “Hold” and an average target price of $94.71.

Cal-Maine Foods Price Performance

Shares of NASDAQ CALM opened at $90.32 on Friday. The firm’s 50-day moving average price is $80.57 and its two-hundred day moving average price is $80.50. Cal-Maine Foods has a 52-week low of $71.92 and a 52-week high of $117.45. The stock has a market capitalization of $4.28 billion, a P/E ratio of 13.79 and a beta of 0.25.

Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Wednesday, July 22nd. The basic materials company reported ($0.76) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.84). The company had revenue of $552.58 million for the quarter, compared to the consensus estimate of $563.83 million. Cal-Maine Foods had a net margin of 10.88% and a return on equity of 11.79%. The firm’s revenue for the quarter was down 49.9% compared to the same quarter last year. During the same period last year, the company posted $7.04 earnings per share.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Wedge Capital Management L L P NC raised its holdings in shares of Cal-Maine Foods by 20.1% during the second quarter. Wedge Capital Management L L P NC now owns 29,601 shares of the basic materials company’s stock valued at $2,385,000 after acquiring an additional 4,956 shares during the period. Eldred Rock Partners LLC boosted its stake in Cal-Maine Foods by 6.8% in the 2nd quarter. Eldred Rock Partners LLC now owns 132,449 shares of the basic materials company’s stock worth $10,670,000 after purchasing an additional 8,482 shares during the period. Assenagon Asset Management S.A. grew its position in Cal-Maine Foods by 3.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 43,102 shares of the basic materials company’s stock worth $3,472,000 after purchasing an additional 1,598 shares in the last quarter. GAMMA Investing LLC grew its position in Cal-Maine Foods by 12.4% during the 2nd quarter. GAMMA Investing LLC now owns 3,249 shares of the basic materials company’s stock worth $262,000 after purchasing an additional 358 shares in the last quarter. Finally, CoreCap Advisors LLC raised its stake in Cal-Maine Foods by 13.5% during the 2nd quarter. CoreCap Advisors LLC now owns 1,153 shares of the basic materials company’s stock valued at $93,000 after purchasing an additional 137 shares during the period. 84.67% of the stock is owned by hedge funds and other institutional investors.

Cal-Maine Foods Company Profile

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.