Cal-Maine Foods (NASDAQ:CALM) Shares Down 3.8% – Here’s What Happened

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) were down 3.8% during trading on Friday . The company traded as low as $106.67 and last traded at $106.23. Approximately 236,511 shares changed hands during trading, a decline of 69% from the average daily volume of 751,018 shares. The stock had previously closed at $110.48.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CALM. Stephens started coverage on shares of Cal-Maine Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price objective for the company. StockNews.com raised shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Wednesday, January 15th.

Cal-Maine Foods Trading Down 3.4 %

The stock has a market cap of $5.23 billion, a PE ratio of 8.30 and a beta of -0.11. The business has a 50-day moving average price of $103.38 and a 200-day moving average price of $86.11.

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, beating analysts’ consensus estimates of $4.05 by $0.42. The company had revenue of $954.70 million during the quarter, compared to the consensus estimate of $751.50 million. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. Cal-Maine Foods’s quarterly revenue was up 82.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 EPS. Equities analysts expect that Cal-Maine Foods, Inc. will post 8.54 earnings per share for the current year.

Insider Transactions at Cal-Maine Foods

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were 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 owns 42,761 shares of the company’s stock, valued at $4,702,427.17. This trade represents a 1.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 13.45% of the company’s stock.

Institutional Investors Weigh In On Cal-Maine Foods

A number of large investors have recently modified their holdings of CALM. Envestnet Asset Management Inc. increased its position in shares of Cal-Maine Foods by 17.1% during the second quarter. Envestnet Asset Management Inc. now owns 129,833 shares of the basic materials company’s stock worth $7,934,000 after purchasing an additional 18,934 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Cal-Maine Foods by 5.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,129 shares of the basic materials company’s stock valued at $313,000 after acquiring an additional 287 shares during the period. Xponance Inc. acquired a new position in shares of Cal-Maine Foods in the 2nd quarter valued at $249,000. Marshall Wace LLP raised its position in Cal-Maine Foods by 25.1% in the 2nd quarter. Marshall Wace LLP now owns 54,078 shares of the basic materials company’s stock valued at $3,305,000 after purchasing an additional 10,838 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Cal-Maine Foods during the 2nd quarter worth $940,000. 84.67% of the stock is 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.