Cal-Maine Foods (NASDAQ:CALM) Shares Down 3.8% - Here's Why

Cal-Maine Foods, Inc. (NASDAQ:CALM - Get Free Report) shares were down 3.8% during trading on Friday . The stock traded as low as $106.67 and last traded at $106.23. Approximately 236,511 shares changed hands during trading, a decline of 69% from the average daily volume of 751,018 shares. The stock had previously closed at $110.48.

Analyst Ratings Changes

CALM has been the topic of several research reports. Stephens began coverage on Cal-Maine Foods in a research note on Thursday, October 3rd. They set an "equal weight" rating and a $82.00 target price on the stock. StockNews.com upgraded shares of Cal-Maine Foods from a "hold" rating to a "buy" rating in a report on Wednesday, January 15th.

Cal-Maine Foods Trading Down 3.4 %

The firm has a 50 day moving average price of $103.38 and a 200-day moving average price of $86.11. The firm has a market cap of $5.23 billion, a PE ratio of 8.30 and a beta of -0.11.

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, topping analysts' consensus estimates of $4.05 by $0.42. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The company had revenue of $954.70 million during the quarter, compared to the consensus estimate of $751.50 million. During the same period in the previous year, the business earned $0.35 EPS. Cal-Maine Foods's revenue for the quarter was up 82.5% on a year-over-year basis. Equities analysts forecast that Cal-Maine Foods, Inc. will post 8.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Cal-Maine Foods

In related news, Director Letitia Callender Hughes sold 809 shares of the firm's stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total transaction of $88,965.73. Following the transaction, the director now 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 filing with the SEC, which is available through the SEC website. 13.45% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cal-Maine Foods

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new position in shares of Cal-Maine Foods in the 3rd quarter valued at $29,000. Hexagon Capital Partners LLC increased its position in Cal-Maine Foods by 57.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 155 shares during the period. Krane Funds Advisors LLC purchased a new stake in shares of Cal-Maine Foods during the third quarter worth approximately $33,000. Quarry LP increased its stake in Cal-Maine Foods by 1,975.0% in the 2nd quarter. Quarry LP now owns 581 shares of the basic materials company's stock valued at $36,000 after buying an additional 553 shares during the period. Finally, GAMMA Investing LLC raised its position in Cal-Maine Foods by 62.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,101 shares of the basic materials company's stock worth $82,000 after buying an additional 425 shares during the last quarter. 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.