Cal-Maine Foods (NASDAQ:CALM) Shares Up 5.3% – Here’s What Happened

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s share price rose 5.3% during mid-day trading on Monday . The company traded as high as $87.51 and last traded at $87.46. Approximately 63,268 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 959,489 shares. The stock had previously closed at $83.03.

Wall Street Analyst Weigh In

CALM has been the subject of a number of research analyst reports. StockNews.com upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th. Stephens reaffirmed an “equal weight” rating and issued a $97.00 price objective on shares of Cal-Maine Foods in a research note on Thursday, March 6th.

Cal-Maine Foods Stock Performance

The stock has a market cap of $4.49 billion, a PE ratio of 7.13 and a beta of -0.12. The stock has a fifty day simple moving average of $100.44 and a two-hundred day simple moving average of $93.13.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.42. The firm had revenue of $954.70 million for the quarter, compared to the consensus estimate of $751.50 million. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The firm’s quarterly revenue was up 82.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 EPS. On average, equities analysts predict that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Letitia Callender Hughes sold 809 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total transaction of $88,965.73. Following the sale, the director now directly owns 42,761 shares of the company’s stock, valued at approximately $4,702,427.17. This represents a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 13.45% of the company’s stock.

Institutional Trading of Cal-Maine Foods

A number of institutional investors and hedge funds have recently modified their holdings of CALM. Crossmark Global Holdings Inc. bought a new position in Cal-Maine Foods in the third quarter worth about $231,000. Victory Capital Management Inc. lifted its holdings in shares of Cal-Maine Foods by 29.5% in the 3rd quarter. Victory Capital Management Inc. now owns 129,067 shares of the basic materials company’s stock worth $9,659,000 after purchasing an additional 29,435 shares during the last quarter. Empowered Funds LLC boosted its position in Cal-Maine Foods by 0.9% during the 3rd quarter. Empowered Funds LLC now owns 76,232 shares of the basic materials company’s stock valued at $5,705,000 after purchasing an additional 654 shares during the period. Natixis Advisors LLC bought a new position in Cal-Maine Foods during the 3rd quarter worth $766,000. Finally, Chesapeake Capital Corp IL increased its position in Cal-Maine Foods by 27.9% in the third quarter. Chesapeake Capital Corp IL now owns 7,733 shares of the basic materials company’s stock worth $577,000 after buying an additional 1,687 shares during the period. 84.67% of the stock is owned by institutional investors and hedge funds.

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.