Cal-Maine Foods' (CALM) Equal Weight Rating Reaffirmed at Stephens

Cal-Maine Foods (NASDAQ:CALM - Get Free Report)'s stock had its "equal weight" rating reissued by investment analysts at Stephens in a research report issued on Thursday,Benzinga reports. They presently have a $97.00 target price on the basic materials company's stock. Stephens' price objective indicates a potential upside of 11.26% from the stock's previous close.

Separately, StockNews.com raised shares of Cal-Maine Foods from a "hold" rating to a "buy" rating in a report on Wednesday, January 15th.

Cal-Maine Foods Stock Performance

Shares of Cal-Maine Foods stock traded up $4.53 during midday trading on Thursday, hitting $87.18. 1,149,584 shares of the company traded hands, compared to its average volume of 980,302. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 6.78 and a beta of -0.12. The firm's fifty day moving average price is $102.35 and its 200-day moving average price is $92.50. Cal-Maine Foods has a 12 month low of $55.00 and a 12 month high of $116.41.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) 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 the consensus estimate of $4.05 by $0.42. The company 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 revenue was up 82.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 EPS. Equities research analysts forecast that Cal-Maine Foods will post 15.59 earnings per share for the current year.

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Insiders Place Their Bets

In other news, Director Letitia Callender Hughes sold 809 shares of the company'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 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 SEC, which is available through the SEC website. Insiders own 13.45% of the company's stock.

Institutional Investors Weigh In On Cal-Maine Foods

A number of institutional investors have recently modified their holdings of CALM. New York State Teachers Retirement System boosted its stake in shares of Cal-Maine Foods by 5.9% in the 3rd quarter. New York State Teachers Retirement System now owns 51,220 shares of the basic materials company's stock valued at $3,833,000 after purchasing an additional 2,860 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Cal-Maine Foods in the 3rd quarter valued at $29,000. Asset Management One Co. Ltd. bought a new stake in shares of Cal-Maine Foods in the 3rd quarter valued at $212,000. Cozad Asset Management Inc. lifted its position in shares of Cal-Maine Foods by 5.8% during the 3rd quarter. Cozad Asset Management Inc. now owns 29,913 shares of the basic materials company's stock valued at $2,239,000 after acquiring an additional 1,652 shares during the period. Finally, Assetmark Inc. lifted its position in shares of Cal-Maine Foods by 6.6% during the 3rd quarter. Assetmark Inc. now owns 77,733 shares of the basic materials company's stock valued at $5,818,000 after acquiring an additional 4,795 shares during the period. 84.67% of the stock is 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.