Cal-Maine Foods (CALM) Raised to “Hold” at BidaskClub

Cal-Maine Foods (NASDAQ:CALM) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, May 4th, BidAskClub reports.

Other equities analysts have also recently issued research reports about the company. Stephens started coverage on Cal-Maine Foods in a report on Monday, March 4th. They set an “equal weight” rating for the company. ValuEngine cut Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Monday, January 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Cal-Maine Foods presently has an average rating of “Hold” and a consensus target price of $42.00.

NASDAQ:CALM traded down $0.50 during trading hours on Friday, reaching $37.45. The stock had a trading volume of 292,271 shares, compared to its average volume of 300,635. Cal-Maine Foods has a 52 week low of $37.10 and a 52 week high of $52.30. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 13.19 and a beta of 0.28.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Monday, April 1st. The basic materials company reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.32. The firm had revenue of $383.99 million for the quarter, compared to the consensus estimate of $385.49 million. Cal-Maine Foods had a return on equity of 15.09% and a net margin of 9.57%. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.99 EPS. On average, equities research analysts expect that Cal-Maine Foods will post 1.45 EPS for the current fiscal year.

In other news, Director James E. Poole sold 2,500 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $42.76, for a total value of $106,900.00. Following the sale, the director now owns 8,222 shares in the company, valued at $351,572.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert L. Holladay, Jr. sold 1,200 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $41.61, for a total value of $49,932.00. Following the completion of the sale, the vice president now owns 10,690 shares in the company, valued at approximately $444,810.90. The disclosure for this sale can be found here. 33.03% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Karp Capital Management Corp purchased a new position in Cal-Maine Foods during the fourth quarter worth approximately $25,000. Meeder Asset Management Inc. lifted its position in shares of Cal-Maine Foods by 67.3% in the fourth quarter. Meeder Asset Management Inc. now owns 994 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 400 shares in the last quarter. American Research & Management Co. lifted its position in shares of Cal-Maine Foods by 200.0% in the first quarter. American Research & Management Co. now owns 1,500 shares of the basic materials company’s stock valued at $67,000 after acquiring an additional 1,000 shares in the last quarter. Intercontinental Wealth Advisors LLC purchased a new position in shares of Cal-Maine Foods in the fourth quarter valued at approximately $77,000. Finally, Advisor Group Inc. lifted its position in shares of Cal-Maine Foods by 63.8% in the first quarter. Advisor Group Inc. now owns 2,191 shares of the basic materials company’s stock valued at $98,000 after acquiring an additional 853 shares in the last quarter. Hedge funds and other institutional investors own 64.06% of the company’s stock.

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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