Cal-Maine Foods (NASDAQ:CALM) Reaches New 52-Week High – Time to Buy?

Cal-Maine Foods, Inc. (NASDAQ:CALM) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $108.50 and last traded at $108.50, with a volume of 779 shares changing hands. The stock had previously closed at $108.12.

Analysts Set New Price Targets

Several analysts have issued reports on CALM shares. StockNews.com downgraded Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Saturday, November 23rd. Stephens initiated coverage on Cal-Maine Foods in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price objective for the company.

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 company has a fifty day moving average price of $94.50 and a two-hundred day moving average price of $77.21.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.30). The company had revenue of $785.87 million during the quarter, compared to the consensus estimate of $704.65 million. Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. Cal-Maine Foods’s revenue was up 71.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.02 EPS. Research analysts anticipate that Cal-Maine Foods, Inc. will post 8.54 EPS for the current year.

Hedge Funds Weigh In On Cal-Maine Foods

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC raised its stake in Cal-Maine Foods by 120.1% in the second quarter. CWM LLC now owns 625 shares of the basic materials company’s stock valued at $38,000 after buying an additional 341 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in Cal-Maine Foods by 18.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 9,459 shares of the basic materials company’s stock valued at $578,000 after acquiring an additional 1,460 shares during the period. Louisiana State Employees Retirement System lifted its holdings in Cal-Maine Foods by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 20,500 shares of the basic materials company’s stock valued at $1,253,000 after purchasing an additional 400 shares during the last quarter. Planned Solutions Inc. bought a new position in Cal-Maine Foods during the second quarter worth $225,000. Finally, Bank of New York Mellon Corp boosted its position in Cal-Maine Foods by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 481,313 shares of the basic materials company’s stock worth $29,413,000 after purchasing an additional 10,287 shares during the period. Institutional investors 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.