Cal-Maine Foods (NASDAQ:CALM) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday, BidAskClub reports.

Several other research analysts also recently issued reports on CALM. Stephens set a $40.00 price target on Cal-Maine Foods and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. ValuEngine raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $47.00.

Shares of NASDAQ CALM opened at $39.59 on Friday. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 13.94 and a beta of 0.28. Cal-Maine Foods has a one year low of $38.96 and a one year high of $52.30.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Monday, April 1st. The basic materials company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.32. The business had revenue of $383.99 million during 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 business’s revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.99 EPS. As a group, sell-side analysts predict that Cal-Maine Foods will post 1.45 earnings per share for the current fiscal year.

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

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Cal-Maine Foods by 2.1% in the 4th quarter. BlackRock Inc. now owns 4,540,607 shares of the basic materials company’s stock valued at $192,066,000 after purchasing an additional 95,337 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in Cal-Maine Foods by 31.3% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,391,908 shares of the basic materials company’s stock valued at $62,121,000 after purchasing an additional 331,859 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Cal-Maine Foods by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,189,908 shares of the basic materials company’s stock valued at $53,107,000 after purchasing an additional 35,913 shares during the last quarter. Renaissance Technologies LLC raised its stake in Cal-Maine Foods by 2.1% in the 1st quarter. Renaissance Technologies LLC now owns 781,600 shares of the basic materials company’s stock valued at $34,883,000 after purchasing an additional 15,800 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Cal-Maine Foods by 3.4% in the 1st quarter. Wells Fargo & Company MN now owns 708,353 shares of the basic materials company’s stock valued at $31,613,000 after purchasing an additional 23,501 shares during the last quarter. 63.72% of the stock is 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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