Cal-Maine Foods, Inc. (NASDAQ:CALM) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts maintain a “Hold” consensus on Cal-Maine Foods, with four hold ratings and one buy among five analysts. The average 1-year price target is $94.71, versus the stock’s recent price of $85.08.
• Institutional investors and hedge funds own 84.67% of the company, with several firms increasing their positions during the second quarter; Bank of New York Mellon also initiated a position worth approximately $57.9 million.
• Cal-Maine’s latest quarterly results fell short of expectations: the company reported a $0.76 loss per share versus an expected $0.08 profit, while revenue declined 49.9% year over year to $552.6 million.

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Get Free Report) have been assigned a consensus rating of "Hold" from the five analysts that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $94.7143.

A number of research firms have commented on CALM. Wall Street Zen cut shares of Cal-Maine Foods from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Stephens cut their target price on shares of Cal-Maine Foods from $90.00 to $85.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 14th. Wells Fargo & Company set a $100.00 target price on shares of Cal-Maine Foods in a report on Monday, July 13th. Benchmark reiterated a "buy" rating on shares of Cal-Maine Foods in a research note on Monday, July 13th. Finally, Weiss Ratings cut shares of Cal-Maine Foods from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, July 23rd.

Hedge Funds Weigh In On Cal-Maine Foods

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new position in shares of Cal-Maine Foods during the second quarter worth approximately $57,894,000. Wedge Capital Management L L P NC boosted its stake in Cal-Maine Foods by 20.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 29,601 shares of the basic materials company's stock valued at $2,385,000 after purchasing an additional 4,956 shares during the period. Eldred Rock Partners LLC grew its holdings in Cal-Maine Foods by 6.8% in the 2nd quarter. Eldred Rock Partners LLC now owns 132,449 shares of the basic materials company's stock valued at $10,670,000 after buying an additional 8,482 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Cal-Maine Foods by 3.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 43,102 shares of the basic materials company's stock valued at $3,472,000 after buying an additional 1,598 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Cal-Maine Foods by 12.4% in the 2nd quarter. GAMMA Investing LLC now owns 3,249 shares of the basic materials company's stock valued at $262,000 after buying an additional 358 shares in the last quarter. Institutional investors and hedge funds own 84.67% of the company's stock.

Cal-Maine Foods Stock Up 0.3%

CALM opened at $85.08 on Friday. Cal-Maine Foods has a 12-month low of $71.92 and a 12-month high of $117.45. The business has a 50 day moving average of $82.75 and a 200-day moving average of $81.32. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 12.99 and a beta of 0.25.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported ($0.76) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.84). Cal-Maine Foods had a net margin of 10.88% and a return on equity of 11.79%. The business had revenue of $552.58 million during the quarter, compared to the consensus estimate of $563.83 million. During the same quarter last year, the company posted $7.04 EPS. The firm's revenue was down 49.9% on a year-over-year basis.

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.

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