Stephens Issues Positive Forecast for Cal-Maine Foods (NASDAQ:CALM) Stock Price

Cal-Maine Foods (NASDAQ:CALM) had its price target increased by research analysts at Stephens from $85.00 to $90.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the basic materials company’s stock. Stephens’ price objective points to a potential upside of 3.90% from the stock’s current price.

Several other research firms also recently issued reports on CALM. BMO Capital Markets decreased their price target on Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating for the company in a research note on Thursday, January 8th. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a report on Tuesday, March 3rd. Finally, Weiss Ratings downgraded Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $94.00.

Cal-Maine Foods Trading Down 1.3%

CALM stock opened at $86.62 on Wednesday. Cal-Maine Foods has a 1 year low of $71.92 and a 1 year high of $126.40. The company has a fifty day simple moving average of $82.90 and a 200 day simple moving average of $88.50. The firm has a market cap of $4.13 billion, a PE ratio of 3.66 and a beta of 0.26.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings data on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Cal-Maine Foods had a return on equity of 44.55% and a net margin of 27.37%.The business had revenue of $769.50 million during the quarter, compared to the consensus estimate of $828.46 million. During the same quarter in the prior year, the company posted $4.47 earnings per share. The company’s revenue for the quarter was down 19.4% on a year-over-year basis. As a group, analysts forecast that Cal-Maine Foods will post 15.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Cal-Maine Foods

Hedge funds have recently bought and sold shares of the company. Pinnacle Holdings LLC acquired a new position in shares of Cal-Maine Foods during the 4th quarter worth about $30,000. Sound Income Strategies LLC acquired a new stake in Cal-Maine Foods in the 3rd quarter valued at approximately $32,000. WealthCollab LLC grew its holdings in Cal-Maine Foods by 105.2% in the 4th quarter. WealthCollab LLC now owns 431 shares of the basic materials company’s stock valued at $34,000 after buying an additional 221 shares during the last quarter. IFP Advisors Inc increased its position in Cal-Maine Foods by 58.2% in the 3rd quarter. IFP Advisors Inc now owns 378 shares of the basic materials company’s stock worth $37,000 after buying an additional 139 shares during the period. Finally, Signaturefd LLC increased its position in Cal-Maine Foods by 46.5% in the 4th quarter. Signaturefd LLC now owns 488 shares of the basic materials company’s stock worth $39,000 after buying an additional 155 shares during the period. 84.67% of the stock is currently owned by institutional investors.

About Cal-Maine Foods

Cal-Maine Foods, Inc, together with its subsidiaries, produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, free-range, pasture-raised, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4Grain brand names. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.