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

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

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Cal-Maine Foods from a "hold" rating to a "buy" rating in a research note on Wednesday, January 15th.

Cal-Maine Foods Trading Down 2.2 %

The stock has a market cap of $4.42 billion, a P/E ratio of 7.01 and a beta of -0.12. The company's fifty day simple moving average is $105.93 and its 200-day simple moving average is $90.99.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its quarterly earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.42. The firm had revenue of $954.70 million for the quarter, compared to analyst estimates of $751.50 million. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The business's revenue for the quarter was up 82.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 EPS. As a group, analysts expect that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Insider Transactions at Cal-Maine Foods

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

Institutional Investors Weigh In On Cal-Maine Foods

Large investors have recently made changes to their positions in the company. Savant Capital LLC grew its holdings in Cal-Maine Foods by 2.5% during the 4th quarter. Savant Capital LLC now owns 3,798 shares of the basic materials company's stock worth $391,000 after acquiring an additional 92 shares during the last quarter. Evergreen Capital Management LLC lifted its position in Cal-Maine Foods by 1.7% during the 4th quarter. Evergreen Capital Management LLC now owns 5,755 shares of the basic materials company's stock valued at $592,000 after purchasing an additional 97 shares during the period. Two Sigma Securities LLC lifted its position in Cal-Maine Foods by 2.8% during the 4th quarter. Two Sigma Securities LLC now owns 3,894 shares of the basic materials company's stock valued at $401,000 after purchasing an additional 106 shares during the period. Summit Investment Advisors Inc. lifted its position in Cal-Maine Foods by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,290 shares of the basic materials company's stock valued at $442,000 after purchasing an additional 136 shares during the period. Finally, Martingale Asset Management L P lifted its position in Cal-Maine Foods by 0.4% during the 3rd quarter. Martingale Asset Management L P now owns 39,321 shares of the basic materials company's stock valued at $2,943,000 after purchasing an additional 145 shares during the period. 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.