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

Cal-Maine Foods, Inc. (NASDAQ:CALM - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $108.50 and last traded at $108.50, with a volume of 779 shares changing hands. The stock had previously closed at $108.12.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CALM. 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. StockNews.com cut shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a research note on Saturday, November 23rd.

Cal-Maine Foods Price Performance

The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 12.86 and a beta of -0.10. The firm has a 50 day simple moving average of $94.11 and a 200-day simple moving average of $76.89.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.30). The firm had revenue of $785.87 million for the quarter, compared to the consensus estimate of $704.65 million. Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The company's revenue for the quarter was up 71.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.02 earnings per share. On average, sell-side analysts forecast that Cal-Maine Foods, Inc. will post 8.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cal-Maine Foods

A number of large investors have recently bought and sold shares of CALM. SG Americas Securities LLC raised its stake in shares of Cal-Maine Foods by 362.8% in the second quarter. SG Americas Securities LLC now owns 15,801 shares of the basic materials company's stock worth $966,000 after acquiring an additional 12,387 shares during the last quarter. Neo Ivy Capital Management bought a new position in Cal-Maine Foods in the 3rd quarter worth approximately $788,000. AE Wealth Management LLC lifted its holdings in Cal-Maine Foods by 267.4% during the 2nd quarter. AE Wealth Management LLC now owns 17,747 shares of the basic materials company's stock worth $1,085,000 after buying an additional 12,917 shares in the last quarter. Centiva Capital LP bought a new position in Cal-Maine Foods in the 3rd quarter valued at $491,000. Finally, Main Street Financial Solutions LLC boosted its position in Cal-Maine Foods by 47.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 28,343 shares of the basic materials company's stock valued at $1,732,000 after buying an additional 9,145 shares during the last quarter. 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.