Cal-Maine Foods (NASDAQ:CALM) Price Target Lowered to $85.00 at Stephens

Key Points

• Stephens cut its price target on Cal-Maine Foods to $85 from $90 while keeping an equal weight rating, implying modest upside from the current stock price.
• Other analysts have also turned more cautious recently, with BMO Capital Markets lowering its target to $80; overall, the stock now carries a consensus Hold rating and an average price target of $94.29.
• Cal-Maine Foods shares fell about 1% to $82.57 in Tuesday trading, with the company valuing at a market cap of $3.91 billion and trading near its 50-day and 200-day moving averages.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) had its price objective decreased by equities researchers at Stephens from $90.00 to $85.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the basic materials company's stock. Stephens' price objective indicates a potential upside of 2.95% from the stock's current price.

Other analysts also recently issued reports about the company. BMO Capital Markets dropped their price objective on Cal-Maine Foods from $85.00 to $80.00 and set a "market perform" rating for the company in a research report on Wednesday, March 25th. Benchmark reiterated a "buy" rating on shares of Cal-Maine Foods in a research report on Monday. Weiss Ratings reissued a "hold (c)" rating on shares of Cal-Maine Foods in a research note on Wednesday, July 8th. Wells Fargo & Company set a $100.00 price target on shares of Cal-Maine Foods in a research note on Monday. Finally, Royal Bank Of Canada set a $100.00 price target on shares of Cal-Maine Foods in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $94.29.

Cal-Maine Foods Stock Down 1.0%

Shares of CALM stock traded down $0.84 during trading hours on Tuesday, reaching $82.57. The company's stock had a trading volume of 75,354 shares, compared to its average volume of 996,553. The firm's 50 day simple moving average is $78.69 and its 200-day simple moving average is $80.08. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 5.76 and a beta of 0.25. Cal-Maine Foods has a fifty-two week low of $71.92 and a fifty-two week high of $126.40.

Hedge Funds Weigh In On Cal-Maine Foods

Large investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in Cal-Maine Foods by 12.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,022 shares of the basic materials company's stock worth $101,000 after acquiring an additional 116 shares during the last quarter. MML Investors Services LLC increased its holdings in Cal-Maine Foods by 1.8% in the fourth quarter. MML Investors Services LLC now owns 7,428 shares of the basic materials company's stock valued at $591,000 after purchasing an additional 131 shares during the period. Illinois Municipal Retirement Fund raised its position in Cal-Maine Foods by 0.6% during the 4th quarter. Illinois Municipal Retirement Fund now owns 23,884 shares of the basic materials company's stock worth $1,900,000 after purchasing an additional 131 shares during the last quarter. CoreCap Advisors LLC raised its position in Cal-Maine Foods by 13.5% during the 2nd quarter. CoreCap Advisors LLC now owns 1,153 shares of the basic materials company's stock worth $93,000 after purchasing an additional 137 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in Cal-Maine Foods by 58.2% during the 3rd quarter. IFP Advisors Inc now owns 378 shares of the basic materials company's stock worth $37,000 after buying an additional 139 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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.

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