Cal-Maine Foods (NASDAQ:CALM) Trading Down 12.8% - What's Next?

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Get Free Report) were down 12.8% on Friday . The company traded as low as $104.65 and last traded at $94.69. Approximately 268,723 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 818,522 shares. The stock had previously closed at $108.60.

Analyst Ratings Changes

Separately, StockNews.com raised Cal-Maine Foods from a "hold" rating to a "buy" rating in a report on Wednesday, January 15th.

Cal-Maine Foods Price Performance

The firm's fifty day simple moving average is $106.78 and its 200 day simple moving average is $90.85. The company has a market capitalization of $4.36 billion, a PE ratio of 6.92 and a beta of -0.12.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its earnings results on Tuesday, January 7th. The basic materials company reported $4.47 EPS for the quarter, topping analysts' consensus estimates of $4.05 by $0.42. The firm had revenue of $954.70 million for the quarter, compared to the consensus estimate of $751.50 million. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The company's revenue was up 82.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 earnings per share. On average, equities research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Insider Activity

In other news, Director Letitia Callender Hughes sold 809 shares of the firm's stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total transaction of $88,965.73. Following the sale, the director now directly owns 42,761 shares in the company, valued at $4,702,427.17. This trade represents a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 13.45% of the company's stock.

Hedge Funds Weigh In On Cal-Maine Foods

A number of hedge funds have recently bought and sold shares of CALM. Nisa Investment Advisors LLC raised its stake in shares of Cal-Maine Foods by 350.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,437 shares of the basic materials company's stock worth $148,000 after buying an additional 1,118 shares during the period. Vest Financial LLC raised its position in Cal-Maine Foods by 17.2% during 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 during the period. Neo Ivy Capital Management acquired a new position in Cal-Maine Foods during the third quarter worth $788,000. Inspire Investing LLC lifted its holdings in Cal-Maine Foods by 112.4% during the fourth 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. Finally, Friedenthal Financial acquired a new stake in shares of Cal-Maine Foods in the fourth quarter valued at about $765,000. Hedge funds and other institutional investors 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.