Cal-Maine Foods (NASDAQ:CALM) Reaches New 1-Year High – Here’s What Happened

Cal-Maine Foods, Inc. (NASDAQ:CALM) shares hit a new 52-week high on Tuesday . The stock traded as high as $95.74 and last traded at $95.50, with a volume of 186536 shares. The stock had previously closed at $93.97.

Analyst Ratings Changes

CALM has been the topic of several analyst reports. StockNews.com raised shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Friday. Stephens began coverage on Cal-Maine Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 target price on the stock.

Cal-Maine Foods Stock Performance

The company has a fifty day moving average of $83.93 and a two-hundred day moving average of $71.12. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 10.68 and a beta of -0.12.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. bought a new position in Cal-Maine Foods in the second quarter valued at about $25,000. Harbor Capital Advisors Inc. acquired a new position in Cal-Maine Foods during the 3rd quarter worth approximately $29,000. Hexagon Capital Partners LLC lifted its stake in Cal-Maine Foods by 57.0% in the 3rd 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 stake in Cal-Maine Foods in the third quarter valued at approximately $33,000. Finally, Quarry LP increased its holdings in shares of Cal-Maine Foods by 1,975.0% during the second quarter. Quarry LP now owns 581 shares of the basic materials company’s stock worth $36,000 after buying an additional 553 shares in the last quarter. 84.67% of the stock is owned by institutional investors.

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.