Cal-Maine Foods (NASDAQ:CALM) Reaches New 52-Week Low – Here’s What Happened

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $71.73 and last traded at $71.6950, with a volume of 502639 shares trading hands. The stock had previously closed at $72.53.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CALM shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $70.00 target price on shares of Cal-Maine Foods in a research note on Friday, September 18th. Stephens set a $80.00 price objective on Cal-Maine Foods and gave the stock an “equal weight” rating in a report on Tuesday. Wall Street Zen downgraded shares of Cal-Maine Foods from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Benchmark cut shares of Cal-Maine Foods from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 4th. Finally, BMO Capital Markets increased their price target on shares of Cal-Maine Foods from $75.00 to $83.00 and gave the stock a “market perform” rating in a research report on Thursday, July 23rd. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $90.00.

Cal-Maine Foods Trading Down 1.9%

The stock has a market capitalization of $3.37 billion, a P/E ratio of 10.95 and a beta of 0.23. The firm’s fifty day moving average is $81.44 and its 200-day moving average is $80.03.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CALM. Dimensional Fund Advisors LP lifted its stake in shares of Cal-Maine Foods by 13.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,519,483 shares of the basic materials company’s stock valued at $199,416,000 after acquiring an additional 300,910 shares during the period. First Trust Advisors LP lifted its position in Cal-Maine Foods by 29.7% during the 1st quarter. First Trust Advisors LP now owns 1,552,297 shares of the basic materials company’s stock valued at $122,864,000 after purchasing an additional 355,762 shares during the period. Bank of New York Mellon Corp acquired a new position in Cal-Maine Foods during the 2nd quarter valued at about $57,894,000. Bank of America Corp DE boosted its stake in shares of Cal-Maine Foods by 21.9% in the 1st quarter. Bank of America Corp DE now owns 505,359 shares of the basic materials company’s stock valued at $39,999,000 after purchasing an additional 90,779 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Cal-Maine Foods in the 4th quarter valued at about $28,864,000. Institutional investors and hedge funds own 84.67% of the company’s stock.

About Cal-Maine Foods

Cal-Maine Foods, Inc is a leading producer and distributor of shell eggs in the United States. The company manages a vertically integrated business that includes egg production, processing, packaging, marketing and distribution. Its products are sold to retail grocery chains, foodservice customers, food processors and institutional buyers.

Cal-Maine offers conventional shell eggs as well as specialty products, including cage-free, organic, brown, free-range and nutritionally enhanced eggs.