Cal-Maine Foods, Inc. (NASDAQ:CALM) Stock Now Rated “Hold” by Sell-Side Brokerages

Cal-Maine Foods, Inc. (NASDAQ:CALM) has been given a consensus rating of “Hold” by the six brokerages that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $84.17.

CALM has been the subject of a number of research analyst reports. The Goldman Sachs Group set a $60.00 target price on Cal-Maine Foods in a report on Thursday. Weiss Ratings downgraded shares of Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. BMO Capital Markets reaffirmed a “market perform” rating and set a $75.00 target price (down from $83.00) on shares of Cal-Maine Foods in a research report on Thursday, September 24th. Wall Street Zen downgraded shares of Cal-Maine Foods from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 26th. Finally, Stephens lowered their target price on shares of Cal-Maine Foods from $80.00 to $70.00 and set an “equal weight” rating on the stock in a report on Thursday.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its position in shares of Cal-Maine Foods by 13.6% during the 1st 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 shares of 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 buying an additional 355,762 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Cal-Maine Foods during the 2nd quarter worth $57,894,000. Bank of America Corp DE grew its stake in shares of Cal-Maine Foods by 21.9% during the 1st quarter. Bank of America Corp DE now owns 505,359 shares of the basic materials company’s stock worth $39,999,000 after acquiring an additional 90,779 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new stake in Cal-Maine Foods in the 4th quarter worth about $28,864,000. Institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Stock Performance

NASDAQ:CALM opened at $66.67 on Friday. The company has a market capitalization of $3.13 billion, a PE ratio of 56.98 and a beta of 0.25. Cal-Maine Foods has a fifty-two week low of $63.50 and a fifty-two week high of $95.57. The company has a 50 day simple moving average of $78.51 and a two-hundred day simple moving average of $79.07.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Wednesday, September 30th. The basic materials company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.49). Cal-Maine Foods had a net margin of 2.32% and a return on equity of 2.21%. The firm had revenue of $539.61 million for the quarter, compared to the consensus estimate of $561.57 million. During the same period last year, the company posted $4.12 EPS. The business’s revenue was down 41.5% compared to the same quarter last year.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc is a major producer and distributor of shell eggs in the United States. The company supplies eggs to grocery retailers, foodservice operators, food distributors and institutional customers under both its own brands and private-label programs.

Its product portfolio includes conventional eggs as well as specialty products such as cage-free, organic, free-range, brown, pasture-raised and nutritionally enhanced eggs. Cal-Maine also markets hard-boiled eggs and other value-added egg products, and sells eggs through a network of production, processing, packaging and distribution facilities.

Founded in 1969 and headquartered in Jackson, Mississippi, Cal-Maine serves customers throughout the United States and has expanded through acquisitions and investments in production capacity.