Cal-Maine Foods (NASDAQ:CALM) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a sell rating to a hold rating in a report published on Tuesday, Zacks.com reports. They currently have $42.00 target price on the basic materials company’s stock.

According to Zacks, “Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packing and sale of fresh shell eggs, including conventional, cage-free, organic and nutritionally-enhanced eggs. The Company, which is headquartered in Jackson, Mississippi, is the largest producer and distributor of fresh shell eggs in the United States and sells the majority of its shell eggs in states across the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States. “

CALM has been the topic of a number of other reports. BidaskClub upgraded shares of Cal-Maine Foods from a sell rating to a hold rating in a research report on Wednesday, September 11th. Stephens set a $45.00 price target on shares of Cal-Maine Foods and gave the stock a hold rating in a research report on Monday, September 23rd. Finally, ValuEngine upgraded shares of Cal-Maine Foods from a buy rating to a strong-buy rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $43.50.

CALM traded up $0.31 on Tuesday, reaching $37.97. 313,823 shares of the company’s stock were exchanged, compared to its average volume of 360,345. The stock has a market cap of $1.85 billion, a PE ratio of 32.73 and a beta of 0.39. Cal-Maine Foods has a twelve month low of $36.65 and a twelve month high of $50.69. The stock’s fifty day moving average price is $42.55 and its 200-day moving average price is $41.49.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Monday, September 30th. The basic materials company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.78). The business had revenue of $241.20 million for the quarter, compared to analyst estimates of $251.33 million. Cal-Maine Foods had a positive return on equity of 0.07% and a negative net margin of 0.31%. The business’s revenue was down 29.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Analysts expect that Cal-Maine Foods will post -0.34 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in Cal-Maine Foods by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 347,632 shares of the basic materials company’s stock valued at $14,704,000 after purchasing an additional 26,728 shares during the last quarter. Balyasny Asset Management LLC acquired a new position in Cal-Maine Foods in the 2nd quarter valued at about $1,411,000. Pinebridge Investments L.P. boosted its holdings in Cal-Maine Foods by 14.2% in the 2nd quarter. Pinebridge Investments L.P. now owns 27,922 shares of the basic materials company’s stock valued at $1,165,000 after purchasing an additional 3,473 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Cal-Maine Foods by 184.3% in the 2nd quarter. Janus Henderson Group PLC now owns 900,517 shares of the basic materials company’s stock valued at $37,570,000 after purchasing an additional 583,811 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Cal-Maine Foods by 85.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 13,498 shares of the basic materials company’s stock valued at $563,000 after purchasing an additional 6,206 shares during the last quarter. Hedge funds and other institutional investors own 67.48% of the company’s stock.

About Cal-Maine Foods

Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.

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