Cal-Maine Foods (NASDAQ:CALM) Trading Down 5.4% – Should You Sell?

Cal-Maine Foods, Inc. (NASDAQ:CALM) fell 5.4% on Friday . The company traded as low as $109.79 and last traded at $109.57. 164,212 shares traded hands during trading, a decline of 78% from the average session volume of 739,909 shares. The stock had previously closed at $115.80.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. StockNews.com upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Wednesday, January 15th. Stephens began coverage on Cal-Maine Foods in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price target for the company.

Cal-Maine Foods Price Performance

The stock has a market cap of $5.15 billion, a P/E ratio of 8.20 and a beta of -0.11. The stock’s 50 day simple moving average is $104.76 and its two-hundred day simple moving average is $87.31.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings data on Tuesday, January 7th. The basic materials company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 20.39% and a return on equity of 33.69%. The firm’s quarterly revenue was up 82.5% on a year-over-year basis. During the same period last year, the business posted $0.35 earnings per share. As a group, analysts forecast that Cal-Maine Foods, Inc. will post 8.54 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Letitia Callender Hughes sold 809 shares of the business’s stock in a transaction 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 sale, the director now owns 42,761 shares of the company’s stock, valued at $4,702,427.17. The trade was a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 13.45% of the company’s stock.

Institutional Investors Weigh In On Cal-Maine Foods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. bought a new position in Cal-Maine Foods in the third quarter valued at approximately $29,000. Hexagon Capital Partners LLC increased its holdings in Cal-Maine Foods by 57.0% during the third quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock worth $32,000 after buying an additional 155 shares during the last quarter. Krane Funds Advisors LLC bought a new stake in Cal-Maine Foods during the third quarter worth $33,000. Quarry LP lifted its stake in Cal-Maine Foods by 1,975.0% in the second quarter. Quarry LP now owns 581 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 553 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Cal-Maine Foods by 62.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,101 shares of the basic materials company’s stock valued at $82,000 after acquiring an additional 425 shares during the period. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Company Profile

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.