BMO Capital Markets Issues Positive Forecast for Cal-Maine Foods (NASDAQ:CALM) Stock Price

Cal-Maine Foods (NASDAQ:CALM - Free Report) had its price target upped by BMO Capital Markets from $100.00 to $105.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a market perform rating on the basic materials company's stock.

CALM has been the topic of a number of other reports. Wall Street Zen upgraded Cal-Maine Foods from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. Stephens boosted their price objective on Cal-Maine Foods from $97.00 to $108.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th.

Cal-Maine Foods Price Performance

Shares of NASDAQ CALM traded down $0.96 during mid-day trading on Thursday, reaching $104.92. 1,319,961 shares of the company's stock were exchanged, compared to its average volume of 971,555. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 4.21 and a beta of 0.17. Cal-Maine Foods has a 52 week low of $67.40 and a 52 week high of $126.40. The firm has a 50-day moving average price of $100.06 and a two-hundred day moving average price of $97.82.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its earnings results on Tuesday, July 22nd. The basic materials company reported $7.04 EPS for the quarter, topping analysts' consensus estimates of $5.29 by $1.75. Cal-Maine Foods had a return on equity of 54.81% and a net margin of 28.63%. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $877.03 million. During the same period in the previous year, the business posted $2.32 EPS. The business's revenue for the quarter was up 72.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Cal-Maine Foods will post 15.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Cal-Maine Foods

Several hedge funds and other institutional investors have recently modified their holdings of CALM. Man Group plc increased its position in shares of Cal-Maine Foods by 258.7% during the fourth quarter. Man Group plc now owns 582,711 shares of the basic materials company's stock valued at $59,973,000 after buying an additional 420,247 shares during the period. Millennium Management LLC increased its position in shares of Cal-Maine Foods by 515.1% during the fourth quarter. Millennium Management LLC now owns 477,477 shares of the basic materials company's stock valued at $49,142,000 after buying an additional 399,848 shares during the period. Nuveen LLC bought a new stake in shares of Cal-Maine Foods during the first quarter valued at about $35,322,000. Jupiter Asset Management Ltd. increased its position in shares of Cal-Maine Foods by 336.5% during the first quarter. Jupiter Asset Management Ltd. now owns 487,214 shares of the basic materials company's stock valued at $44,288,000 after buying an additional 375,604 shares during the period. Finally, Northern Trust Corp increased its position in shares of Cal-Maine Foods by 60.2% during the fourth quarter. Northern Trust Corp now owns 674,335 shares of the basic materials company's stock valued at $69,403,000 after buying an additional 253,310 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.