Cal-Maine Foods (NASDAQ:CALM) Stock Price Down 4.5% - Should You Sell?

Cal-Maine Foods, Inc. (NASDAQ:CALM - Get Free Report) dropped 4.5% on Tuesday . The stock traded as low as $107.05 and last traded at $107.22. Approximately 60,841 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 590,069 shares. The stock had previously closed at $112.24.

Analysts Set New Price Targets

Several analysts have commented on CALM shares. StockNews.com cut Cal-Maine Foods from a "buy" rating to a "hold" rating in a report on Saturday, November 23rd. Stephens initiated coverage on shares of Cal-Maine Foods in a research note on Thursday, October 3rd. They set an "equal weight" rating and a $82.00 price target on the stock.

Cal-Maine Foods Stock Performance

The company has a market cap of $5.23 billion, a P/E ratio of 12.22 and a beta of -0.10. The business has a fifty day simple moving average of $94.50 and a 200 day simple moving average of $77.21.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its earnings results on Tuesday, October 1st. The basic materials company reported $3.06 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.30). Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The firm had revenue of $785.87 million during the quarter, compared to the consensus estimate of $704.65 million. During the same quarter last year, the company posted $0.02 EPS. Cal-Maine Foods's revenue for the quarter was up 71.1% on a year-over-year basis. Equities research analysts expect that Cal-Maine Foods, Inc. will post 8.54 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. acquired a new position in Cal-Maine Foods in the 2nd quarter worth approximately $25,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Cal-Maine Foods in the third quarter worth $29,000. Hexagon Capital Partners LLC grew its holdings in shares of Cal-Maine Foods by 57.0% during the third quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company's stock valued at $32,000 after buying an additional 155 shares in the last quarter. Krane Funds Advisors LLC acquired a new position in Cal-Maine Foods during the third quarter valued at $33,000. Finally, Quarry LP lifted 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 worth $36,000 after acquiring an additional 553 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.