Cal-Maine Foods (NASDAQ:CALM) Price Target Lowered to $97.00 at BMO Capital Markets

Key Points

• BMO Capital Markets has lowered its price target for Cal-Maine Foods (NASDAQ: CALM) from $105 to $97, suggesting a potential upside of 4.45% from the current stock price.
• Cal-Maine Foods reported earnings of $4.12 per share, missing analysts' expectations of $4.55, with revenues of $922.60 million falling short of estimates.
• Institutional investors hold 84.67% of Cal-Maine Foods' stock, with significant recent positions being built by various hedge funds and investment firms.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) had its price objective cut by research analysts at BMO Capital Markets from $105.00 to $97.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "market perform" rating on the basic materials company's stock. BMO Capital Markets' price objective suggests a potential upside of 4.45% from the stock's current price.

Several other equities analysts have also recently weighed in on CALM. The Goldman Sachs Group decreased their price target on shares of Cal-Maine Foods from $110.00 to $98.00 and set a "neutral" rating for the company in a research note on Friday. Lake Street Capital set a $97.00 price target on Cal-Maine Foods in a research report on Friday. Wall Street Zen cut shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a research note on Saturday, August 23rd. Finally, Stephens raised 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. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Cal-Maine Foods presently has a consensus rating of "Hold" and a consensus target price of $101.75.

Cal-Maine Foods Stock Performance

CALM traded up $0.29 on Friday, hitting $92.87. 909,617 shares of the company were exchanged, compared to its average volume of 966,868. The firm has a market capitalization of $4.56 billion, a P/E ratio of 3.57 and a beta of 0.22. The business's fifty day moving average is $107.28 and its 200 day moving average is $100.31. Cal-Maine Foods has a fifty-two week low of $79.44 and a fifty-two week high of $126.40.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 1st. The basic materials company reported $4.12 EPS for the quarter, missing analysts' consensus estimates of $4.55 by ($0.43). The company had revenue of $922.60 million for the quarter, compared to the consensus estimate of $931.62 million. Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The company's revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.06 earnings per share. Analysts forecast that Cal-Maine Foods will post 15.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CALM. IFP Advisors Inc grew its holdings in shares of Cal-Maine Foods by 195.1% during the second quarter. IFP Advisors Inc now owns 239 shares of the basic materials company's stock valued at $25,000 after buying an additional 158 shares in the last quarter. Investment Management Corp VA ADV raised its position in shares of Cal-Maine Foods by 172.2% during the 1st quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 248 shares during the last quarter. AdvisorNet Financial Inc acquired a new stake in Cal-Maine Foods during the 2nd quarter worth $54,000. Caitong International Asset Management Co. Ltd bought a new stake in Cal-Maine Foods during the 1st quarter worth approximately $52,000. Finally, Blue Trust Inc. lifted its holdings in shares of Cal-Maine Foods by 388.2% in 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 in the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

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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