Cal-Maine Foods (NASDAQ:CALM) Sees Strong Trading Volume - Time to Buy?

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 1,028,657 shares traded hands during trading, a decline of 0% from the previous session's volume of 1,028,880 shares.The stock last traded at $92.87 and had previously closed at $96.55.

Analysts Set New Price Targets

CALM has been the topic of a number of research reports. Stephens reiterated an "equal weight" rating and issued a $97.00 price target on shares of Cal-Maine Foods in a report on Thursday, March 6th. StockNews.com downgraded Cal-Maine Foods from a "buy" rating to a "hold" rating in a research report on Thursday, April 10th.

Cal-Maine Foods Stock Down 1.4 %

The company's 50 day moving average price is $91.33 and its two-hundred day moving average price is $96.79. The firm has a market cap of $4.42 billion, a PE ratio of 7.02 and a beta of 0.11.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.79 by $4.59. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $953.76 million. During the same period last year, the company earned $3.00 EPS. Cal-Maine Foods's quarterly revenue was up 101.6% compared to the same quarter last year. On average, analysts expect that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Adolphus B. Baker sold 140,266 shares of the business's stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $90.60, for a total value of $12,708,099.60. Following the completion of the sale, the insider now owns 1,319,034 shares in the company, valued at approximately $119,504,480.40. The trade was a 9.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 13.45% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CALM. Nisa Investment Advisors LLC boosted its holdings in shares of Cal-Maine Foods by 350.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,437 shares of the basic materials company's stock valued at $148,000 after buying an additional 1,118 shares in the last quarter. Vest Financial LLC boosted its holdings in Cal-Maine Foods by 17.2% in the fourth quarter. Vest Financial LLC now owns 23,553 shares of the basic materials company's stock worth $2,424,000 after acquiring an additional 3,449 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Cal-Maine Foods by 1,061.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 32,924 shares of the basic materials company's stock valued at $3,330,000 after acquiring an additional 30,089 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Cal-Maine Foods by 339.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company's stock worth $105,000 after purchasing an additional 797 shares in the last quarter. Finally, Inspire Investing LLC increased its stake in Cal-Maine Foods by 112.4% during the 4th quarter. Inspire Investing LLC now owns 11,805 shares of the basic materials company's stock valued at $1,215,000 after purchasing an additional 6,247 shares in the last quarter. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

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.