StockNews.com Downgrades Cal-Maine Foods (NASDAQ:CALM) to Hold

Cal-Maine Foods (NASDAQ:CALM) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Separately, Stephens began coverage on shares of Cal-Maine Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price target on the stock.

Cal-Maine Foods Price Performance

Cal-Maine Foods stock opened at $104.73 on Tuesday. The firm has a market cap of $5.14 billion, a PE ratio of 12.00 and a beta of -0.11. The stock’s fifty day moving average price is $98.56 and its two-hundred day moving average price is $82.07. Cal-Maine Foods has a one year low of $53.38 and a one year high of $114.06.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Tuesday, January 7th. The basic materials company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.42. Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The company had revenue of $954.70 million for the quarter, compared to analysts’ expectations of $751.50 million. During the same quarter last year, the business earned $0.35 earnings per share. Cal-Maine Foods’s revenue was up 82.5% on a year-over-year basis. Sell-side analysts expect that Cal-Maine Foods will post 8.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cal-Maine Foods

Several institutional investors and hedge funds have recently added to or reduced their stakes in CALM. JPMorgan Chase & Co. lifted its stake in shares of Cal-Maine Foods by 88.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 340,155 shares of the basic materials company’s stock valued at $25,457,000 after acquiring an additional 159,787 shares during the last quarter. Two Sigma Advisers LP raised its position in Cal-Maine Foods by 652.6% in the third quarter. Two Sigma Advisers LP now owns 160,300 shares of the basic materials company’s stock valued at $11,997,000 after purchasing an additional 139,000 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Cal-Maine Foods by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,616,011 shares of the basic materials company’s stock valued at $159,863,000 after purchasing an additional 114,995 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Cal-Maine Foods by 5.5% during the second quarter. Renaissance Technologies LLC now owns 2,115,624 shares of the basic materials company’s stock valued at $129,286,000 after purchasing an additional 110,900 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Cal-Maine Foods by 8.9% during the second quarter. American Century Companies Inc. now owns 1,013,713 shares of the basic materials company’s stock worth $61,948,000 after purchasing an additional 82,772 shares during the last quarter. Institutional investors own 84.67% of the company’s stock.

About Cal-Maine Foods

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.