Cal-Maine Foods (NASDAQ:CALM) Posts Earnings Results, Beats Expectations By $1.75 EPS

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) issued its earnings results on Tuesday. The basic materials company reported $7.04 EPS for the quarter, beating the consensus estimate of $5.29 by $1.75, Zacks reports. 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 during the quarter, compared to the consensus estimate of $877.03 million. During the same period last year, the business posted $2.32 EPS. The firm's revenue for the quarter was up 72.1% compared to the same quarter last year.

Cal-Maine Foods Stock Down 0.9%

CALM traded down $0.96 on Friday, hitting $104.92. The company had a trading volume of 1,319,961 shares, compared to its average volume of 971,555. The company has a market cap of $5.15 billion, a PE ratio of 4.21 and a beta of 0.17. The business's fifty day simple moving average is $100.06 and its 200 day simple moving average is $97.87. Cal-Maine Foods has a 12-month low of $67.40 and a 12-month high of $126.40.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of Cal-Maine Foods from $100.00 to $105.00 and gave the company a "market perform" rating in a research report on Thursday. Wall Street Zen upgraded Cal-Maine Foods from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. Finally, Stephens boosted their price objective on Cal-Maine Foods from $108.00 to $115.00 and gave the company an "equal weight" rating in a research note on Thursday.

Institutional Trading of Cal-Maine Foods

Institutional investors and hedge funds have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Cal-Maine Foods by 10.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,422 shares of the basic materials company's stock worth $7,765,000 after acquiring an additional 7,736 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Cal-Maine Foods by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,401 shares of the basic materials company's stock worth $2,218,000 after acquiring an additional 1,057 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Cal-Maine Foods by 100.8% during the first quarter. NewEdge Advisors LLC now owns 7,985 shares of the basic materials company's stock worth $726,000 after acquiring an additional 4,009 shares during the last quarter. Finally, United Services Automobile Association purchased a new stake in shares of Cal-Maine Foods during the first quarter worth about $245,000. 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.