Cal-Maine Foods (NASDAQ:CALM) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a hold rating to a buy rating in a report published on Wednesday.

Separately, Stephens reiterated an “equal weight” rating and issued a $97.00 price target on shares of Cal-Maine Foods in a research note on Thursday, March 6th.

Cal-Maine Foods Trading Down 0.7 %

Shares of CALM opened at $92.29 on Wednesday. The business’s fifty day simple moving average is $95.22 and its two-hundred day simple moving average is $95.04. Cal-Maine Foods has a 12 month low of $55.15 and a 12 month high of $116.41. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 7.18 and a beta of 0.11.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.42. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The firm had revenue of $954.70 million for the quarter, compared to the consensus estimate of $751.50 million. During the same period in the prior year, the company posted $0.35 earnings per share. The company’s quarterly revenue was up 82.5% on a year-over-year basis. As a group, research analysts forecast that Cal-Maine Foods will post 15.59 EPS for the current year.

Insider Transactions at Cal-Maine Foods

In other news, Director Letitia Callender Hughes sold 809 shares of the 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 transaction, the director now owns 42,761 shares in the company, valued at $4,702,427.17. This represents a 1.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 13.45% of the company’s stock.

Institutional Trading of Cal-Maine Foods

Several large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new position in shares of Cal-Maine Foods during the 4th quarter worth $391,000. Mascagni Wealth Management Inc. purchased a new position in Cal-Maine Foods during the fourth quarter valued at $144,000. Jefferies Financial Group Inc. lifted its position in Cal-Maine Foods by 255.1% during the fourth quarter. Jefferies Financial Group Inc. now owns 19,884 shares of the basic materials company’s stock valued at $2,046,000 after purchasing an additional 14,284 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in Cal-Maine Foods in the fourth quarter worth about $1,733,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Cal-Maine Foods by 27.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,686 shares of the basic materials company’s stock worth $7,995,000 after buying an additional 16,650 shares during the period. 84.67% of the stock is currently owned by 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.