Cal-Maine Foods (NASDAQ:CALM) Hits New 1-Year Low - Should You Sell?

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Get Free Report) reached a new 52-week low on Wednesday . The company traded as low as $90.55 and last traded at $93.37, with a volume of 1208926 shares. The stock had previously closed at $93.38.

Analysts Set New Price Targets

A number of equities research analysts have commented on CALM shares. BMO Capital Markets assumed coverage on Cal-Maine Foods in a research note on Monday. They issued a "market perform" rating and a $100.00 price objective for the company. StockNews.com downgraded shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Stephens restated an "equal weight" rating and set a $97.00 price objective on shares of Cal-Maine Foods in a report on Wednesday, April 23rd.

Cal-Maine Foods Stock Up 3.4 %

The firm has a 50 day moving average price of $91.20 and a 200 day moving average price of $97.04. The stock has a market capitalization of $4.71 billion, a PE ratio of 7.48 and a beta of 0.18.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its quarterly earnings results on Tuesday, April 8th. The basic materials company reported $10.38 EPS for the quarter, beating analysts' consensus estimates of $5.79 by $4.59. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $953.76 million. During the same period in the prior year, the firm posted $3.00 EPS. Cal-Maine Foods's quarterly revenue was up 101.6% compared to the same quarter last year. On average, equities analysts forecast that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Adolphus B. Baker sold 140,266 shares of Cal-Maine Foods stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $90.60, for a total transaction of $12,708,099.60. Following the sale, the insider now directly owns 1,319,034 shares in the company, valued at approximately $119,504,480.40. This trade represents a 9.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.45% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cal-Maine Foods

Several institutional investors and hedge funds have recently bought and sold shares of CALM. Financial Management Professionals Inc. purchased a new position in shares of Cal-Maine Foods during the 1st quarter valued at $30,000. Blue Trust Inc. lifted its holdings in Cal-Maine Foods by 388.2% during the first quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock valued at $56,000 after purchasing an additional 493 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Cal-Maine Foods during the first quarter valued at about $77,000. Harbor Capital Advisors Inc. boosted its position in Cal-Maine Foods by 126.0% during the first quarter. Harbor Capital Advisors Inc. now owns 920 shares of the basic materials company's stock worth $84,000 after purchasing an additional 513 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of Cal-Maine Foods by 339.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company's stock worth $105,000 after purchasing an additional 797 shares in the last quarter. 84.67% of the stock is owned by institutional investors.

Cal-Maine Foods Company Profile

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.