According to Zacks, “Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packing and sale of fresh shell eggs, including conventional, cage-free, organic and nutritionally-enhanced eggs. The Company, which is headquartered in Jackson, Mississippi, is the largest producer and distributor of fresh shell eggs in the United States and sells the majority of its shell eggs in states across the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States. “
Several other equities analysts have also recently issued reports on the company. ValuEngine upgraded Cal-Maine Foods from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. Stephens set a $45.00 price target on Cal-Maine Foods and gave the company a “hold” rating in a research report on Monday, September 23rd. Finally, BidaskClub upgraded Cal-Maine Foods from a “sell” rating to a “hold” rating in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company’s stock. Cal-Maine Foods currently has an average rating of “Hold” and a consensus price target of $44.50.
Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Monday, September 30th. The basic materials company reported ($0.94) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.78). Cal-Maine Foods had a return on equity of 5.67% and a net margin of 3.98%. The firm had revenue of $241.20 million for the quarter, compared to analyst estimates of $251.33 million. During the same quarter last year, the firm posted $0.26 EPS. The firm’s revenue for the quarter was down 29.2% on a year-over-year basis. As a group, equities research analysts expect that Cal-Maine Foods will post -0.34 earnings per share for the current year.
Hedge funds have recently modified their holdings of the stock. Oakworth Capital Inc. acquired a new position in Cal-Maine Foods in the 2nd quarter valued at about $44,000. NEXT Financial Group Inc increased its position in Cal-Maine Foods by 28.6% in the 2nd quarter. NEXT Financial Group Inc now owns 1,350 shares of the basic materials company’s stock valued at $56,000 after acquiring an additional 300 shares during the period. Advisor Group Inc. increased its position in Cal-Maine Foods by 17.5% in the 2nd quarter. Advisor Group Inc. now owns 2,574 shares of the basic materials company’s stock valued at $107,000 after acquiring an additional 383 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in Cal-Maine Foods in the 1st quarter valued at about $161,000. Finally, Bank of Montreal Can increased its position in Cal-Maine Foods by 109.0% in the 2nd quarter. Bank of Montreal Can now owns 4,349 shares of the basic materials company’s stock valued at $181,000 after acquiring an additional 2,268 shares during the period. Hedge funds and other institutional investors own 67.48% of the company’s stock.
About Cal-Maine Foods
Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.
Read More: Stock Symbols and CUSIP Explained
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cal-Maine Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cal-Maine Foods and related companies with MarketBeat.com's FREE daily email newsletter.