Cal-Maine Foods (NASDAQ:CALM) Shares Down 5.4% - Here's What Happened

Cal-Maine Foods, Inc. (NASDAQ:CALM - Get Free Report) was down 5.4% during trading on Friday . The stock traded as low as $109.79 and last traded at $109.57. Approximately 164,212 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 739,909 shares. The stock had previously closed at $115.80.

Analysts Set New Price Targets

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 Price Performance

The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 8.38 and a beta of -0.12. The company has a 50-day simple moving average of $105.20 and a two-hundred day simple moving average of $88.24.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $954.70 million for the quarter, compared to the consensus estimate of $751.50 million. During the same period last year, the firm posted $0.35 EPS. Cal-Maine Foods's quarterly revenue was up 82.5% compared to the same quarter last year. Research analysts anticipate that Cal-Maine Foods, Inc. will post 8.54 EPS for the current year.

Insider Transactions at Cal-Maine Foods

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of the firm's stock in a transaction dated Tuesday, January 14th. The shares were 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 of the company's stock, valued at approximately $4,702,427.17. This trade represents a 1.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.45% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. acquired a new stake in shares of Cal-Maine Foods in the third quarter valued at $29,000. Hexagon Capital Partners LLC lifted its stake in 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 purchasing an additional 155 shares during the last quarter. Krane Funds Advisors LLC acquired a new position in shares of Cal-Maine Foods in the 3rd quarter valued at $33,000. Quarry LP grew its position in Cal-Maine Foods by 1,975.0% during the 2nd quarter. Quarry LP now owns 581 shares of the basic materials company's stock worth $36,000 after purchasing an additional 553 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Cal-Maine Foods by 62.9% during the third quarter. GAMMA Investing LLC now owns 1,101 shares of the basic materials company's stock valued at $82,000 after buying an additional 425 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors.

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.