Cal-Maine Foods (NASDAQ:CALM) Cut to "Hold" at Wall Street Zen

Key Points

• Cal-Maine Foods has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting a cautious outlook from analysts.
• Several investment firms have set price objectives for Cal-Maine Foods, with Goldman Sachs at $110.00 and BMO Capital Markets raising theirs to $105.00.
• Cal-Maine recently reported earnings per share of $7.04, significantly exceeding analyst expectations of $5.29, and has seen a 72.1% increase in year-over-year revenue.

Wall Street Zen lowered shares of Cal-Maine Foods (NASDAQ:CALM - Free Report) from a buy rating to a hold rating in a research report released on Saturday.

CALM has been the topic of several other research reports. The Goldman Sachs Group assumed coverage on shares of Cal-Maine Foods in a research note on Thursday, August 14th. They issued a "neutral" rating and a $110.00 price objective on the stock. Stephens boosted their price objective on shares of Cal-Maine Foods from $108.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Finally, BMO Capital Markets boosted their price objective on shares of Cal-Maine Foods from $100.00 to $105.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Cal-Maine Foods presently has an average rating of "Hold" and a consensus price target of $110.00.

Cal-Maine Foods Price Performance

Shares of Cal-Maine Foods stock traded up $1.64 during trading on Friday, hitting $116.63. The company's stock had a trading volume of 247,832 shares, compared to its average volume of 957,411. Cal-Maine Foods has a 52 week low of $68.22 and a 52 week high of $126.40. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 4.68 and a beta of 0.19. The stock has a 50-day moving average price of $105.85 and a two-hundred day moving average price of $97.77.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share for the quarter, topping the consensus estimate of $5.29 by $1.75. Cal-Maine Foods had a net margin of 28.63% and a return on equity of 54.81%. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $877.03 million. During the same quarter in the previous year, the firm posted $2.32 earnings per share. Cal-Maine Foods's revenue for the quarter was up 72.1% on a year-over-year basis. On average, equities analysts predict that Cal-Maine Foods will post 15.59 EPS for the current fiscal year.

Institutional Trading of Cal-Maine Foods

Institutional investors have recently bought and sold shares of the company. Man Group plc boosted its position in shares of Cal-Maine Foods by 258.7% during the 4th quarter. Man Group plc now owns 582,711 shares of the basic materials company's stock worth $59,973,000 after purchasing an additional 420,247 shares in the last quarter. Millennium Management LLC boosted its position in shares of Cal-Maine Foods by 515.1% during the 4th quarter. Millennium Management LLC now owns 477,477 shares of the basic materials company's stock worth $49,142,000 after purchasing an additional 399,848 shares in the last quarter. Nuveen LLC bought a new position in shares of Cal-Maine Foods during the 1st quarter worth about $35,322,000. Jupiter Asset Management Ltd. boosted its position in shares of Cal-Maine Foods by 336.5% during the 1st quarter. Jupiter Asset Management Ltd. now owns 487,214 shares of the basic materials company's stock worth $44,288,000 after purchasing an additional 375,604 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of Cal-Maine Foods by 60.1% during the 2nd quarter. Squarepoint Ops LLC now owns 934,037 shares of the basic materials company's stock worth $93,058,000 after purchasing an additional 350,771 shares in the last quarter. 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.