Cal-Maine Foods (NASDAQ:CALM) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Cal-Maine Foods (NASDAQ:CALM) to a hold rating in a report published on Tuesday,Zacks.com reports.

CALM has been the topic of a number of other research reports. StockNews.com cut shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Stephens reaffirmed an “equal weight” rating and set a $97.00 target price on shares of Cal-Maine Foods in a research note on Wednesday, April 23rd.

Cal-Maine Foods Trading Down 5.0 %

Shares of CALM stock opened at $90.73 on Tuesday. Cal-Maine Foods has a 1-year low of $56.74 and a 1-year high of $116.41. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 7.06 and a beta of 0.18. The stock has a 50-day moving average of $91.47 and a 200-day moving average of $97.03.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $953.76 million. During the same quarter last year, the business earned $3.00 EPS. The company’s revenue was up 101.6% compared to the same quarter last year. Sell-side analysts forecast that Cal-Maine Foods will post 15.59 earnings per share for the current year.

Insiders Place Their Bets

In other Cal-Maine Foods news, insider Adolphus B. Baker sold 140,266 shares of the stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $90.60, for a total value of $12,708,099.60. Following the transaction, the insider now owns 1,319,034 shares in the company, valued at approximately $119,504,480.40. This represents a 9.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 13.45% of the company’s stock.

Hedge Funds Weigh In On Cal-Maine Foods

A number of institutional investors have recently modified their holdings of CALM. Financial Management Professionals Inc. bought a new stake in Cal-Maine Foods during the 1st quarter valued at $30,000. Investment Management Corp VA ADV grew its holdings in shares of Cal-Maine Foods by 172.2% during the first quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company’s stock valued at $36,000 after buying an additional 248 shares during the last quarter. Blue Trust Inc. increased its position in shares of Cal-Maine Foods by 388.2% during the first quarter. Blue Trust Inc. now owns 620 shares of the basic materials company’s stock worth $56,000 after acquiring an additional 493 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Cal-Maine Foods in the 1st quarter worth about $77,000. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Cal-Maine Foods by 126.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 920 shares of the basic materials company’s stock worth $84,000 after acquiring an additional 513 shares during the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

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.