Cal-Maine Foods (NASDAQ:CALM) Downgraded by BidaskClub

BidaskClub lowered shares of Cal-Maine Foods (NASDAQ:CALM) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, BidAskClub reports.

Several other research analysts have also weighed in on the company. Bank of America initiated coverage on Cal-Maine Foods in a report on Wednesday, October 28th. They set a buy rating and a $47.00 target price on the stock. TheStreet downgraded Cal-Maine Foods from a b- rating to a c rating in a research note on Wednesday, September 30th. Zacks Investment Research raised Cal-Maine Foods from a sell rating to a hold rating in a research note on Tuesday. Finally, ValuEngine raised Cal-Maine Foods from a hold rating to a buy rating in a research note on Tuesday, December 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Cal-Maine Foods presently has a consensus rating of Hold and a consensus price target of $45.67.

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CALM stock opened at $37.54 on Wednesday. The business’s 50-day moving average price is $38.42 and its two-hundred day moving average price is $40.59. The firm has a market cap of $1.83 billion, a PE ratio of 41.25 and a beta of -0.19. Cal-Maine Foods has a 1-year low of $30.74 and a 1-year high of $46.66.

In related news, VP Charles Jeff Hardin bought 2,000 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were acquired at an average price of $38.28 per share, with a total value of $76,560.00. Following the completion of the transaction, the vice president now owns 6,221 shares in the company, valued at $238,139.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 27.50% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the stock. LPL Financial LLC increased its holdings in shares of Cal-Maine Foods by 2.5% during the third quarter. LPL Financial LLC now owns 20,905 shares of the basic materials company’s stock worth $802,000 after buying an additional 513 shares in the last quarter. BlackRock Inc. increased its holdings in Cal-Maine Foods by 12.5% in the third quarter. BlackRock Inc. now owns 5,295,425 shares of the basic materials company’s stock valued at $203,185,000 after purchasing an additional 588,850 shares during the period. Thrivent Financial for Lutherans increased its holdings in Cal-Maine Foods by 21.5% in the third quarter. Thrivent Financial for Lutherans now owns 30,801 shares of the basic materials company’s stock valued at $1,182,000 after purchasing an additional 5,451 shares during the period. Man Group plc acquired a new stake in Cal-Maine Foods in the second quarter valued at $2,382,000. Finally, CIBC Asset Management Inc increased its holdings in Cal-Maine Foods by 13.0% in the third quarter. CIBC Asset Management Inc now owns 5,419 shares of the basic materials company’s stock valued at $208,000 after purchasing an additional 624 shares during the period. 60.63% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Company Profile

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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