Cal-Maine Foods (NASDAQ:CALM) Upgraded at StockNews.com

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

Separately, Stephens reiterated an "equal weight" rating and issued a $97.00 target price on shares of Cal-Maine Foods in a research note on Wednesday.

Cal-Maine Foods Stock Up 0.2 %

Shares of CALM stock opened at $93.30 on Thursday. Cal-Maine Foods has a fifty-two week low of $55.15 and a fifty-two week high of $116.41. The firm's 50 day moving average price is $90.66 and its two-hundred day moving average price is $96.78. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 7.26 and a beta of 0.11.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its earnings results on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share for the quarter, beating the consensus estimate of $5.79 by $4.59. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $953.76 million. During the same quarter in the previous year, the business posted $3.00 EPS. The business's quarterly revenue was up 101.6% on a year-over-year basis. On average, equities analysts forecast that Cal-Maine Foods will post 15.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Adolphus B. Baker sold 140,266 shares of the stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $90.60, for a total value of $12,708,099.60. Following the completion of the transaction, the insider now owns 1,319,034 shares of the company's stock, valued at approximately $119,504,480.40. This represents a 9.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 13.45% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cal-Maine Foods

A number of institutional investors have recently made changes to their positions in CALM. Financial Management Professionals Inc. bought a new stake in shares of Cal-Maine Foods in the first quarter worth $30,000. Blue Trust Inc. increased its position in shares of Cal-Maine Foods by 388.2% in the 1st quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock worth $56,000 after purchasing an additional 493 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Cal-Maine Foods in the 1st quarter valued at about $77,000. Harbor Capital Advisors Inc. raised its stake in shares of Cal-Maine Foods by 126.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 920 shares of the basic materials company's stock valued at $84,000 after purchasing an additional 513 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Cal-Maine Foods by 339.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company's stock worth $105,000 after purchasing an additional 797 shares during the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

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.

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