Cal-Maine Foods (NASDAQ:CALM) Sees Strong Trading Volume – What’s Next?

Cal-Maine Foods, Inc. (NASDAQ:CALM) saw an uptick in trading volume on Wednesday . 1,028,657 shares changed hands during trading, a decline of 0% from the previous session’s volume of 1,028,880 shares.The stock last traded at $92.87 and had previously closed at $96.55.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CALM shares. Stephens reissued an “equal weight” rating and issued a $97.00 price target on shares of Cal-Maine Foods in a report on Thursday, March 6th. StockNews.com cut shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Thursday, April 10th.

Cal-Maine Foods Trading Down 4.4 %

The stock has a market cap of $4.53 billion, a PE ratio of 7.18 and a beta of 0.11. The firm has a fifty day simple moving average of $92.45 and a two-hundred day simple moving average of $96.34.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share for the quarter, beating analysts’ consensus estimates of $5.79 by $4.59. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $953.76 million. During the same period last year, the firm posted $3.00 earnings per share. Cal-Maine Foods’s quarterly revenue was up 101.6% on a year-over-year basis. Equities analysts forecast that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CALM. Financial Management Professionals Inc. purchased a new position in shares of Cal-Maine Foods in the 1st quarter worth about $30,000. Future Financial Wealth Managment LLC purchased a new stake in Cal-Maine Foods in the first quarter worth approximately $77,000. Harbor Capital Advisors Inc. grew its position in Cal-Maine Foods by 126.0% during the first quarter. Harbor Capital Advisors Inc. now owns 920 shares of the basic materials company’s stock valued at $84,000 after acquiring an additional 513 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of 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 worth $105,000 after acquiring an additional 797 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Cal-Maine Foods in the 4th quarter valued at $134,000. Institutional investors own 84.67% of the company’s stock.

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.