Cal-Maine Foods (NASDAQ:CALM) Hits New 12-Month High - Here's Why

Cal-Maine Foods, Inc. (NASDAQ:CALM - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $114.40 and last traded at $114.22, with a volume of 218098 shares. The stock had previously closed at $111.91.

Wall Street Analyst Weigh In

CALM has been the topic of several recent research reports. StockNews.com raised Cal-Maine Foods from a "hold" rating to a "buy" rating in a report on Wednesday. Stephens began coverage on shares of Cal-Maine Foods in a research note on Thursday, October 3rd. They set an "equal weight" rating and a $82.00 price target on the stock.

Cal-Maine Foods Stock Up 1.2 %

The company has a 50 day simple moving average of $100.90 and a two-hundred day simple moving average of $83.89. The company has a market capitalization of $5.55 billion, a P/E ratio of 8.81 and a beta of -0.11.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its quarterly earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share 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 return on equity of 33.69% and a net margin of 20.39%. Cal-Maine Foods'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. As a group, research analysts expect that Cal-Maine Foods, Inc. will post 8.54 EPS for the current fiscal year.

Insider Activity at Cal-Maine Foods

In related news, Director Letitia Callender Hughes sold 809 shares of the business's stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total transaction of $88,965.73. Following the completion of the transaction, the director now owns 42,761 shares in the company, valued at $4,702,427.17. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.45% of the stock is currently owned by insiders.

Institutional Trading of Cal-Maine Foods

Institutional investors and hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. purchased a new position in Cal-Maine Foods in the 3rd quarter worth about $29,000. Hexagon Capital Partners LLC increased its position in shares of 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 acquiring an additional 155 shares during the period. Krane Funds Advisors LLC purchased a new position in shares of Cal-Maine Foods during the third quarter worth approximately $33,000. Quarry LP raised its stake in shares of Cal-Maine Foods by 1,975.0% during 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 in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Cal-Maine Foods by 62.9% in the third quarter. GAMMA Investing LLC now owns 1,101 shares of the basic materials company's stock valued at $82,000 after purchasing an additional 425 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.

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