Cal-Maine Foods, Inc. (NASDAQ:CALM) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) have been given a consensus rating of “Hold” by the five research firms that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation. The average 1-year price target among brokers that have issued a report on the stock in the last year is $94.7143.

Several brokerages recently weighed in on CALM. Weiss Ratings downgraded shares of Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd. Royal Bank Of Canada set a $100.00 price target on shares of Cal-Maine Foods in a report on Tuesday, May 26th. BMO Capital Markets boosted their price objective on Cal-Maine Foods from $75.00 to $83.00 and gave the company a “market perform” rating in a report on Thursday, July 23rd. Wall Street Zen lowered Cal-Maine Foods from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Finally, Stephens decreased their price target on Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, July 14th.

Cal-Maine Foods Price Performance

Shares of CALM opened at $74.83 on Wednesday. The firm has a market capitalization of $3.51 billion, a PE ratio of 11.42 and a beta of 0.23. The company’s fifty day moving average price is $83.85 and its 200-day moving average price is $80.99. Cal-Maine Foods has a 1-year low of $71.92 and a 1-year high of $112.13.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.84). Cal-Maine Foods had a return on equity of 11.79% and a net margin of 10.88%.The firm had revenue of $552.58 million for the quarter, compared to analyst estimates of $563.83 million. During the same period in the prior year, the firm posted $7.04 EPS. The business’s revenue was down 49.9% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its stake in shares of Cal-Maine Foods by 7,727.9% during the 2nd quarter. California State Teachers Retirement System now owns 4,007,941 shares of the basic materials company’s stock worth $322,880,000 after acquiring an additional 3,956,740 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Cal-Maine Foods in the 2nd quarter valued at about $57,894,000. Northwestern Mutual Wealth Management Co. raised its holdings in Cal-Maine Foods by 3,014.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 623,571 shares of the basic materials company’s stock worth $49,618,000 after purchasing an additional 603,551 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Cal-Maine Foods during the fourth quarter worth approximately $28,864,000. Finally, First Trust Advisors LP grew its holdings in Cal-Maine Foods by 29.7% in the first quarter. First Trust Advisors LP now owns 1,552,297 shares of the basic materials company’s stock valued at $122,864,000 after purchasing an additional 355,762 shares during the period. Hedge funds and other institutional investors 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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.