According to Zacks, “Cal-Maine Foods, Inc. is engaged in the production, cleaning, grading, and packaging of fresh shell eggs for sale to shell egg retailers. The company is the one of the largest producers and distributors of fresh shell eggs in the United States. The company markets its eggs primarily in the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States. “
A number of other equities research analysts have also recently weighed in on the stock. Vetr cut shares of Cal-Maine Foods from a hold rating to a sell rating and set a $43.50 price target for the company. in a research report on Monday, December 26th. DA Davidson reiterated a buy rating and set a $35.00 price target (down from $37.00) on shares of Cal-Maine Foods in a research report on Wednesday, March 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $39.88.
Shares of Cal-Maine Foods (NASDAQ:CALM) traded up 0.469% during midday trading on Friday, hitting $37.525. 375,295 shares of the stock traded hands. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 193.428 and a beta of 0.81. Cal-Maine Foods has a 52-week low of $35.10 and a 52-week high of $55.16. The stock has a 50-day moving average of $38.51 and a 200-day moving average of $40.34.
Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results on Monday, March 27th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by $0.13. Cal-Maine Foods had a net margin of 0.79% and a return on equity of 1.10%. The company had revenue of $306.50 million for the quarter, compared to analyst estimates of $331.87 million. During the same quarter in the prior year, the business earned $1.33 earnings per share. Cal-Maine Foods’s revenue was down 31.9% on a year-over-year basis. On average, equities analysts predict that Cal-Maine Foods will post ($0.62) earnings per share for the current fiscal year.
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In other Cal-Maine Foods news, Director James E. Poole sold 2,200 shares of Cal-Maine Foods stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $42.33, for a total transaction of $93,126.00. Following the completion of the sale, the director now directly owns 6,265 shares in the company, valued at $265,197.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert L. Holladay, Jr. sold 2,297 shares of Cal-Maine Foods stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $42.76, for a total transaction of $98,219.72. Following the sale, the vice president now owns 8,993 shares of the company’s stock, valued at $384,540.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,497 shares of company stock valued at $234,856. Company insiders own 33.34% of the company’s stock.
Several large investors have recently made changes to their positions in CALM. Neuberger Berman Group LLC boosted its position in shares of Cal-Maine Foods by 95.6% in the third quarter. Neuberger Berman Group LLC now owns 1,588,857 shares of the company’s stock worth $61,235,000 after buying an additional 776,556 shares during the period. Melvin Capital Management LP acquired a new position in shares of Cal-Maine Foods during the third quarter worth $21,197,000. Aberdeen Asset Management PLC UK boosted its position in shares of Cal-Maine Foods by 50.6% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 1,408,089 shares of the company’s stock worth $62,202,000 after buying an additional 472,853 shares during the period. Perkins Investment Management LLC acquired a new position in shares of Cal-Maine Foods during the third quarter worth $14,574,000. Finally, Norges Bank acquired a new position in shares of Cal-Maine Foods during the fourth quarter worth $9,300,000. Institutional investors and hedge funds own 56.52% of the company’s stock.
About Cal-Maine Foods
Cal-Maine Foods, Inc is a producer and marketer of shell eggs in the United States. The Company operates through the segment of production, grading, packaging, marketing and distribution of shell eggs. It offers shell eggs, including specialty and non-specialty eggs. It classifies cage free, organic and brown eggs as specialty products.
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