Cal-Maine Foods (NASDAQ:CALM) Issues Earnings Results

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) released its quarterly earnings data on Tuesday. The basic materials company reported $7.04 earnings per share for the quarter, topping analysts' consensus estimates of $5.29 by $1.75, Zacks reports. Cal-Maine Foods had a return on equity of 48.72% and a net margin of 26.08%.

Cal-Maine Foods Stock Down 1.4%

NASDAQ CALM traded down $1.46 during trading hours on Tuesday, hitting $104.71. 1,066,500 shares of the company were exchanged, compared to its average volume of 769,881. The company has a 50 day moving average of $98.79 and a two-hundred day moving average of $97.67. Cal-Maine Foods has a 52-week low of $63.37 and a 52-week high of $116.41. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 5.18 and a beta of 0.17.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. BMO Capital Markets raised Cal-Maine Foods to a "hold" rating in a research note on Tuesday, May 6th. Wall Street Zen raised Cal-Maine Foods from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. Finally, Stephens increased their target price on Cal-Maine Foods from $97.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th.

Institutional Investors Weigh In On Cal-Maine Foods

Several large investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Cal-Maine Foods by 10.0% in the 1st 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 valued at $7,765,000 after acquiring an additional 7,736 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Cal-Maine Foods by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,401 shares of the basic materials company's stock valued at $2,218,000 after acquiring an additional 1,057 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Cal-Maine Foods by 100.8% in the 1st quarter. NewEdge Advisors LLC now owns 7,985 shares of the basic materials company's stock valued at $726,000 after acquiring an additional 4,009 shares during the last quarter. Finally, United Services Automobile Association purchased a new position in shares of Cal-Maine Foods in the 1st quarter valued at about $245,000. Hedge funds and other institutional investors own 84.67% of the company's stock.

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.

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