Cal-Maine Foods Inc. (NASDAQ:CALM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “Cal-Maine Foods, Inc. is engaged in the production, cleaning, grading, and packaging of fresh shell eggs for sale to shell egg retailers. The company is the one of the largest producers and distributors of fresh shell eggs in the United States. The company markets its eggs primarily in the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States. “
Other analysts have also recently issued research reports about the company. Vetr upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating and set a $46.84 price target for the company in a research report on Monday, September 5th. Goldman Sachs Group Inc. assumed coverage on Cal-Maine Foods in a research report on Thursday, November 10th. They issued a “neutral” rating and a $37.00 price target for the company. TheStreet cut Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Monday, September 26th. Finally, DA Davidson restated an “underperform” rating and issued a $35.00 price target (down previously from $37.00) on shares of Cal-Maine Foods in a research report on Tuesday, September 27th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.73.
Shares of Cal-Maine Foods (NASDAQ:CALM) traded up 1.49% during mid-day trading on Monday, hitting $40.95. The stock had a trading volume of 350,784 shares. The company has a market cap of $1.99 billion, a PE ratio of 13.94 and a beta of 0.80. Cal-Maine Foods has a 12 month low of $35.65 and a 12 month high of $56.49. The stock’s 50-day moving average is $38.58 and its 200 day moving average is $42.06.
Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Monday, September 26th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by $0.31. Cal-Maine Foods had a net margin of 9.23% and a return on equity of 15.81%. The firm earned $239.80 million during the quarter. During the same quarter last year, the company posted $2.95 earnings per share. The business’s revenue for the quarter was down 60.7% compared to the same quarter last year. On average, equities research analysts forecast that Cal-Maine Foods will post ($0.25) earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. Northcoast Asset Management boosted its stake in Cal-Maine Foods by 6.6% in the third quarter. Northcoast Asset Management now owns 35,221 shares of the company’s stock valued at $1,923,000 after buying an additional 2,175 shares in the last quarter. Hays Advisory acquired a new stake in Cal-Maine Foods during the fourth quarter valued at about $6,772,000. Commonwealth Equity Services boosted its stake in Cal-Maine Foods by 52.0% in the fourth quarter. Commonwealth Equity Services now owns 34,220 shares of the company’s stock valued at $1,586,000 after buying an additional 11,705 shares in the last quarter. Personal Capital Advisors Corp boosted its stake in Cal-Maine Foods by 5.7% in the fourth quarter. Personal Capital Advisors Corp now owns 156,394 shares of the company’s stock valued at $7,247,000 after buying an additional 8,393 shares in the last quarter. Finally, Naples Global Advisors LLC boosted its position in Cal-Maine Foods by 37.8% in the fourth quarter. Naples Global Advisors LLC now owns 20,495 shares of the company’s stock valued at $950,000 after buying an additional 5,625 shares in the last quarter. Hedge funds and other institutional investors own 58.88% of the company’s stock.
About Cal-Maine Foods
Cal-Maine Foods, Inc is a producer and marketer of shell eggs in the United States. The Company operates through the segment of production, grading, packaging, marketing and distribution of shell eggs. It offers shell eggs, including specialty and non-specialty eggs. It classifies cage free, organic and brown eggs as specialty products.