Cal-Maine Foods (NASDAQ:CALM) Receives “Equal Weight” Rating from Stephens

Stephens reiterated their equal weight rating on shares of Cal-Maine Foods (NASDAQ:CALM) in a report published on Thursday morning,Benzinga reports. They currently have a $97.00 target price on the basic materials company’s stock.

Separately, StockNews.com raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th.

Cal-Maine Foods Price Performance

Cal-Maine Foods stock opened at $88.78 on Thursday. The firm has a market cap of $4.35 billion, a P/E ratio of 6.91 and a beta of -0.12. The stock’s 50 day moving average is $104.13 and its 200 day moving average is $91.66. Cal-Maine Foods has a one year low of $54.88 and a one year high of $116.41.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.42. The company had revenue of $954.70 million during the quarter, compared to analysts’ expectations of $751.50 million. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. Cal-Maine Foods’s revenue for the quarter was up 82.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 earnings per share. Equities analysts anticipate that Cal-Maine Foods will post 15.59 earnings per share for the current fiscal year.

Insider Activity

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of the firm’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 value of $88,965.73. Following the completion of the sale, the director now owns 42,761 shares of the company’s stock, valued at approximately $4,702,427.17. This trade represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 13.45% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CALM. Harbor Capital Advisors Inc. bought a new stake in Cal-Maine Foods during the 3rd quarter worth approximately $29,000. Quarry LP grew its position in Cal-Maine Foods by 32.5% in the 3rd quarter. Quarry LP now owns 770 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 189 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Cal-Maine Foods by 339.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company’s stock valued at $105,000 after buying an additional 797 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Cal-Maine Foods during the 4th quarter worth approximately $134,000. Finally, GAMMA Investing LLC boosted its stake in shares of Cal-Maine Foods by 24.3% in the 4th quarter. GAMMA Investing LLC now owns 1,368 shares of the basic materials company’s stock worth $141,000 after buying an additional 267 shares during the last quarter. Institutional investors and hedge funds 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.