Cal-Maine Foods (NASDAQ:CALM) Shares Gap Down - Should You Sell?

Cal-Maine Foods, Inc. (NASDAQ:CALM - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $90.33, but opened at $84.03. Cal-Maine Foods shares last traded at $89.52, with a volume of 420,683 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com cut Cal-Maine Foods from a "buy" rating to a "hold" rating in a research report on Thursday. Stephens reaffirmed an "equal weight" rating and set a $97.00 target price on shares of Cal-Maine Foods in a research note on Thursday, March 6th.

Cal-Maine Foods Stock Down 0.2 %

The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 7.68 and a beta of 0.11. The firm's 50 day moving average is $92.86 and its 200 day moving average is $96.17.

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

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Insider Activity

In other news, Director Letitia Callender Hughes sold 809 shares of the business's stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $109.97, for a total transaction of $88,965.73. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cal-Maine Foods

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CALM. Nisa Investment Advisors LLC lifted its holdings in shares of Cal-Maine Foods by 350.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,437 shares of the basic materials company's stock valued at $148,000 after purchasing an additional 1,118 shares in the last quarter. Vest Financial LLC boosted its position in Cal-Maine Foods by 17.2% during the 4th 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 during the period. Asset Management One Co. Ltd. grew its stake in Cal-Maine Foods by 1,061.3% during the 4th 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 increased its holdings in shares of 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 valued at $105,000 after purchasing an additional 797 shares during the period. Finally, Inspire Investing LLC lifted its position in shares of Cal-Maine Foods by 112.4% in the fourth quarter. Inspire Investing LLC now owns 11,805 shares of the basic materials company's stock worth $1,215,000 after purchasing an additional 6,247 shares in the last quarter. Institutional investors and hedge funds own 84.67% of the company's stock.

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.