StockNews.com Downgrades Cal-Maine Foods (NASDAQ:CALM) to Hold

Cal-Maine Foods (NASDAQ:CALM) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Separately, Stephens initiated coverage on shares of Cal-Maine Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price objective on the stock.

Cal-Maine Foods Stock Performance

Shares of Cal-Maine Foods stock opened at $95.96 on Friday. Cal-Maine Foods has a fifty-two week low of $46.30 and a fifty-two week high of $96.63. The company has a market capitalization of $4.71 billion, a P/E ratio of 10.99 and a beta of -0.12. The company has a fifty day moving average of $86.02 and a 200 day moving average of $72.20.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share 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 business had revenue of $785.87 million during the quarter, compared to the consensus estimate of $704.65 million. During the same period last year, the company earned $0.02 EPS. The business’s revenue was up 71.1% on a year-over-year basis. Analysts forecast that Cal-Maine Foods will post 8.54 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Neo Ivy Capital Management bought a new position in shares of Cal-Maine Foods during the third quarter valued at approximately $788,000. Geode Capital Management LLC grew its position in Cal-Maine Foods by 1.1% in the 3rd 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 last quarter. Barclays PLC grew its position in Cal-Maine Foods by 48.3% in the 3rd 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 last quarter. MML Investors Services LLC increased its stake in 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 worth $334,000 after purchasing an additional 392 shares during the period. Finally, Hodges Capital Management Inc. lifted its position in shares of Cal-Maine Foods by 15.2% during the third quarter. Hodges Capital Management Inc. now owns 178,360 shares of the basic materials company’s stock worth $13,348,000 after purchasing an additional 23,526 shares during the last quarter. Institutional investors own 84.67% of the company’s stock.

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.