Cal-Maine Foods (NASDAQ:CALM) Rating Lowered to Hold at StockNews.com

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a report issued on Tuesday.

Separately, Stephens started coverage on shares of Cal-Maine Foods in a research note on Thursday, October 3rd. They issued an "equal weight" rating and a $82.00 price objective for the company.

Cal-Maine Foods Price Performance

Shares of NASDAQ CALM traded down $1.07 during mid-day trading on Tuesday, hitting $103.68. The company had a trading volume of 955,944 shares, compared to its average volume of 591,862. Cal-Maine Foods has a 12 month low of $53.38 and a 12 month high of $114.06. The firm has a market cap of $5.08 billion, a P/E ratio of 11.88 and a beta of -0.11. The business's 50-day simple moving average is $98.25 and its 200-day simple moving average is $81.91.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its quarterly earnings data on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share for the quarter, topping 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 24.25% and a net margin of 16.09%. Cal-Maine Foods's revenue for the quarter was up 82.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 EPS. As a group, sell-side analysts predict that Cal-Maine Foods will post 8.54 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new stake in Cal-Maine Foods during the 3rd quarter valued at $29,000. Hexagon Capital Partners LLC raised its holdings in shares of Cal-Maine Foods by 57.0% in the third quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company's stock valued at $32,000 after buying an additional 155 shares during the last quarter. Krane Funds Advisors LLC acquired a new position in Cal-Maine Foods during the 3rd quarter worth about $33,000. Quarry LP grew its holdings in Cal-Maine Foods by 1,975.0% during the 2nd quarter. Quarry LP now owns 581 shares of the basic materials company's stock worth $36,000 after acquiring an additional 553 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Cal-Maine Foods in the 2nd quarter valued at about $47,000. 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.