Cal-Maine Foods (NASDAQ:CALM) Rating Increased to Buy at StockNews.com

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

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

Cal-Maine Foods Price Performance

Shares of CALM opened at $102.03 on Monday. The stock has a 50-day moving average of $96.22 and a 200-day moving average of $79.66. Cal-Maine Foods has a one year low of $53.02 and a one year high of $114.06. The company has a market cap of $5.00 billion, a PE ratio of 11.69 and a beta of -0.10.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Tuesday, October 1st. The basic materials company reported $3.06 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $785.87 million for the quarter, compared to the consensus estimate of $704.65 million. During the same quarter in the prior year, the firm earned $0.02 EPS. The company’s revenue was up 71.1% compared to the same quarter last year. Analysts expect 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 modified their holdings of CALM. JPMorgan Chase & Co. raised its position in Cal-Maine Foods by 88.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 340,155 shares of the basic materials company’s stock valued at $25,457,000 after buying an additional 159,787 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Cal-Maine Foods by 91.7% in the third quarter. Franklin Resources Inc. now owns 62,979 shares of the basic materials company’s stock valued at $4,713,000 after purchasing an additional 30,122 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Cal-Maine Foods by 418.6% during the third quarter. Tidal Investments LLC now owns 47,653 shares of the basic materials company’s stock valued at $3,566,000 after purchasing an additional 38,465 shares in the last quarter. World Investment Advisors LLC purchased a new position in Cal-Maine Foods during the third quarter worth about $1,585,000. Finally, Sanctuary Advisors LLC boosted its holdings in Cal-Maine Foods by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 6,935 shares of the basic materials company’s stock worth $519,000 after purchasing an additional 467 shares during the last quarter. 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.