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 report released on Wednesday morning.

Separately, Stephens started coverage on Cal-Maine Foods in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 target price for the company.

Cal-Maine Foods Trading Up 1.5 %

Cal-Maine Foods stock opened at $113.63 on Wednesday. Cal-Maine Foods has a 12 month low of $53.38 and a 12 month high of $114.40. The stock’s 50 day simple moving average is $101.36 and its two-hundred day simple moving average is $84.24. The firm has a market cap of $5.57 billion, a PE ratio of 8.84 and a beta of -0.11.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Tuesday, January 7th. The basic materials company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.05 by $0.42. The business had revenue of $954.70 million for the quarter, compared to analyst estimates of $751.50 million. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The business’s quarterly revenue was up 82.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, equities research analysts forecast that Cal-Maine Foods will post 8.54 EPS for the current year.

Insider Transactions at Cal-Maine Foods

In related news, Director Letitia Callender Hughes sold 809 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total value of $88,965.73. Following the completion of the transaction, the director now directly owns 42,761 shares of the company’s stock, valued at approximately $4,702,427.17. This represents a 1.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.45% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Inspire Investing LLC raised its stake in 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 purchasing an additional 6,247 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Cal-Maine Foods by 350.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,437 shares of the basic materials company’s stock valued at $148,000 after purchasing an additional 1,118 shares during the last quarter. Ballentine Partners LLC acquired a new position in Cal-Maine Foods in the 4th quarter valued at $213,000. Eldred Rock Partners LLC raised its stake in Cal-Maine Foods by 0.4% in the 4th quarter. Eldred Rock Partners LLC now owns 145,630 shares of the basic materials company’s stock valued at $14,935,000 after purchasing an additional 635 shares during the last quarter. Finally, J2 Capital Management Inc acquired a new stake in shares of Cal-Maine Foods in the 4th quarter worth $584,000. 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.