Cal-Maine Foods (NASDAQ:CALM) Upgraded at StockNews.com

StockNews.com upgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a hold rating to a buy rating in a research note released on Saturday.

Several other equities research analysts also recently weighed in on CALM. Stephens reissued an “equal weight” rating and issued a $97.00 price target on shares of Cal-Maine Foods in a report on Wednesday, April 23rd. BMO Capital Markets raised Cal-Maine Foods to a “hold” rating in a report on Tuesday, May 6th.

Cal-Maine Foods Stock Performance

NASDAQ:CALM opened at $92.67 on Friday. The stock’s fifty day moving average is $91.70 and its 200 day moving average is $97.18. Cal-Maine Foods has a fifty-two week low of $57.18 and a fifty-two week high of $116.41. The firm has a market capitalization of $4.55 billion, a PE ratio of 7.21 and a beta of 0.18.

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

Insider Transactions at Cal-Maine Foods

In related news, insider Adolphus B. Baker sold 140,266 shares of Cal-Maine Foods stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $90.60, for a total transaction of $12,708,099.60. Following the completion of the transaction, the insider now directly owns 1,319,034 shares in the company, valued at approximately $119,504,480.40. This trade 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 can be accessed 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. Nisa Investment Advisors LLC boosted its stake in shares of Cal-Maine Foods by 350.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,437 shares of the basic materials company’s stock worth $148,000 after acquiring an additional 1,118 shares during the last quarter. Vest Financial LLC lifted its stake in Cal-Maine Foods by 17.2% during the 4th quarter. Vest Financial LLC now owns 23,553 shares of the basic materials company’s stock worth $2,424,000 after acquiring an additional 3,449 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in Cal-Maine Foods by 1,061.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 32,924 shares of the basic materials company’s stock worth $3,330,000 after purchasing an additional 30,089 shares during the period. Smartleaf Asset Management LLC increased its holdings in Cal-Maine Foods by 339.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 797 shares during the period. Finally, Inspire Investing LLC increased its holdings in shares of Cal-Maine Foods by 112.4% in the 4th quarter. Inspire Investing LLC now owns 11,805 shares of the basic materials company’s stock valued at $1,215,000 after acquiring an additional 6,247 shares during the last quarter. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

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.