Cal-Maine Foods (NASDAQ:CALM) Lowered to “Hold” Rating by StockNews.com

StockNews.com cut shares of Cal-Maine Foods (NASDAQ:CALM) from a buy rating to a hold rating in a report published on Saturday morning.

Separately, Stephens assumed coverage on Cal-Maine Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 target price for the company.

Cal-Maine Foods Stock Up 0.2 %

Cal-Maine Foods stock opened at $95.96 on Friday. Cal-Maine Foods has a 52 week low of $46.30 and a 52 week high of $96.63. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 10.99 and a beta of -0.12. The stock has a 50-day moving average price of $86.02 and a 200 day moving average price of $72.10.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Tuesday, October 1st. The basic materials company reported $3.06 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30). Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The firm had revenue of $785.87 million for the quarter, compared to analyst estimates of $704.65 million. During the same period last year, the firm earned $0.02 EPS. The company’s revenue for the quarter was up 71.1% compared to the same quarter last year. Research analysts anticipate that Cal-Maine Foods will post 8.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Neo Ivy Capital Management acquired a new position in Cal-Maine Foods in the third quarter valued at approximately $788,000. Geode Capital Management LLC lifted its holdings in Cal-Maine Foods by 1.1% in the third quarter. Geode Capital Management LLC now owns 988,599 shares of the basic materials company’s stock valued at $74,000,000 after acquiring an additional 10,984 shares during the period. Barclays PLC lifted its holdings in Cal-Maine Foods by 48.3% in the third quarter. Barclays PLC now owns 103,558 shares of the basic materials company’s stock valued at $7,749,000 after acquiring an additional 33,731 shares during the period. MML Investors Services LLC increased its position in shares of Cal-Maine Foods by 9.6% in the third quarter. MML Investors Services LLC now owns 4,464 shares of the basic materials company’s stock valued at $334,000 after buying an additional 392 shares in the last quarter. Finally, Hodges Capital Management Inc. increased its position in shares of Cal-Maine Foods by 15.2% in the third quarter. Hodges Capital Management Inc. now owns 178,360 shares of the basic materials company’s stock valued at $13,348,000 after buying an additional 23,526 shares in 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.