Cal-Maine Foods (NASDAQ:CALM) Coverage Initiated at The Goldman Sachs Group

Key Points

• Cal-Maine Foods received an upgrade from a "sell" rating to a "hold" rating from The Goldman Sachs Group, indicating a shift in analysts' perspectives on the stock.
• The company reported $7.04 EPS for the latest quarter, significantly surpassing the expected $5.29 EPS, with a quarterly revenue increase of 72.1% year-over-year.
• Institutional investors hold 84.67% of Cal-Maine Foods' shares, demonstrating strong interest and confidence among large investors in the company's growth potential.

Equities researchers at The Goldman Sachs Group started coverage on shares of Cal-Maine Foods (NASDAQ:CALM - Get Free Report) in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage set a "neutral" rating and a $110.00 price target on the basic materials company's stock. The Goldman Sachs Group's target price would indicate a potential upside of 1.86% from the stock's previous close.

A number of other research analysts also recently issued reports on the company. Stephens increased their price objective on Cal-Maine Foods from $108.00 to $115.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Wall Street Zen downgraded Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Finally, BMO Capital Markets increased their price objective on Cal-Maine Foods from $100.00 to $105.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th.

Cal-Maine Foods Price Performance

Shares of Cal-Maine Foods stock opened at $107.99 on Thursday. Cal-Maine Foods has a 1 year low of $68.22 and a 1 year high of $126.40. The business has a 50-day moving average of $103.31 and a two-hundred day moving average of $97.66. The company has a market capitalization of $5.30 billion, a P/E ratio of 4.33 and a beta of 0.19.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.29 by $1.75. 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 in the prior year, the company earned $2.32 earnings per share. The company's revenue for the quarter was up 72.1% compared to the same quarter last year. On average, equities analysts anticipate that Cal-Maine Foods will post 15.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. IFP Advisors Inc boosted its position in 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 purchasing an additional 158 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in Cal-Maine Foods during the first quarter valued at approximately $30,000. Investment Management Corp VA ADV boosted its position in Cal-Maine Foods by 172.2% during the first quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 248 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Cal-Maine Foods during the first quarter valued at approximately $52,000. Finally, AdvisorNet Financial Inc acquired a new position in Cal-Maine Foods during the second quarter valued at approximately $54,000. 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.