StockNews.com Downgrades Cal-Maine Foods (NASDAQ:CALM) to Hold

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Tuesday.

Separately, Stephens reissued 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 Performance

Shares of NASDAQ CALM traded down $1.20 during trading on Tuesday, hitting $91.01. 544,190 shares of the company were exchanged, compared to its average volume of 685,029. Cal-Maine Foods has a 12-month low of $55.00 and a 12-month high of $116.41. The company has a fifty day moving average price of $97.15 and a 200-day moving average price of $94.25. The firm has a market capitalization of $4.46 billion, a PE ratio of 7.08 and a beta of -0.12.

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

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Insider Buying and Selling at Cal-Maine Foods

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of the company's stock in a transaction 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 directly owns 42,761 shares in the company, valued at $4,702,427.17. This represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 13.45% of the company's stock.

Hedge Funds Weigh In On Cal-Maine Foods

Several hedge funds have recently bought and sold shares of the company. Man Group plc increased its stake in Cal-Maine Foods by 258.7% during the fourth quarter. Man Group plc now owns 582,711 shares of the basic materials company's stock worth $59,973,000 after purchasing an additional 420,247 shares during the period. Millennium Management LLC increased its stake in Cal-Maine Foods by 515.1% during the 4th quarter. Millennium Management LLC now owns 477,477 shares of the basic materials company's stock worth $49,142,000 after buying an additional 399,848 shares during the period. Northern Trust Corp lifted its holdings in Cal-Maine Foods by 60.2% during the 4th quarter. Northern Trust Corp now owns 674,335 shares of the basic materials company's stock worth $69,403,000 after buying an additional 253,310 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Cal-Maine Foods by 88.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 340,155 shares of the basic materials company's stock valued at $25,457,000 after buying an additional 159,787 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Cal-Maine Foods by 12.7% in the fourth quarter. American Century Companies Inc. now owns 1,266,621 shares of the basic materials company's stock worth $130,361,000 after acquiring an additional 143,189 shares in the last quarter. Institutional investors and hedge funds own 84.67% of the company's stock.

About Cal-Maine Foods

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.