Cal-Maine Foods (CALM) Shares Up 7%
Cal-Maine Foods Inc (NASDAQ:CALM)’s share price shot up 7% during trading on Monday . The company traded as high as $43.95 and last traded at $43.65. 957,016 shares traded hands during mid-day trading, an increase of 49% from the average session volume of 641,423 shares. The stock had previously closed at $40.80.
A number of brokerages have commented on CALM. Zacks Investment Research downgraded shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Friday, December 22nd. Cleveland Research upgraded shares of Cal-Maine Foods from a “sell” rating to a “neutral” rating in a research note on Saturday, December 30th. BidaskClub downgraded shares of Cal-Maine Foods from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 9th. Finally, Stephens upgraded shares of Cal-Maine Foods from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $35.00 to $50.00 in a research note on Tuesday, October 3rd. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $39.00.
The company has a current ratio of 2.78, a quick ratio of 1.85 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $2,120.00, a P/E ratio of -35.49 and a beta of 0.76.
Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Friday, January 5th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.15). Cal-Maine Foods had a negative net margin of 5.18% and a negative return on equity of 1.15%. The business had revenue of $361.20 million for the quarter, compared to the consensus estimate of $370.85 million. During the same quarter in the prior year, the business posted ($0.48) earnings per share. Cal-Maine Foods’s revenue for the quarter was up 42.5% on a year-over-year basis. equities analysts forecast that Cal-Maine Foods Inc will post 1 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its stake in shares of Cal-Maine Foods by 2.2% during the third quarter. California Public Employees Retirement System now owns 61,028 shares of the basic materials company’s stock valued at $2,508,000 after purchasing an additional 1,328 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Cal-Maine Foods during the third quarter valued at approximately $127,000. Point72 Asset Management L.P. boosted its stake in Cal-Maine Foods by 481.9% in the third quarter. Point72 Asset Management L.P. now owns 141,400 shares of the basic materials company’s stock valued at $5,812,000 after acquiring an additional 117,100 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Cal-Maine Foods by 19.4% in the third quarter. Janus Henderson Group PLC now owns 2,361,375 shares of the basic materials company’s stock valued at $97,053,000 after acquiring an additional 383,193 shares in the last quarter. Finally, Diversified Investment Strategies LLC boosted its stake in Cal-Maine Foods by 36.1% in the third quarter. Diversified Investment Strategies LLC now owns 113,875 shares of the basic materials company’s stock valued at $4,680,000 after acquiring an additional 30,175 shares in the last quarter. Hedge funds and other institutional investors own 62.97% of the company’s stock.
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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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