Cal-Maine Foods (NASDAQ:CALM) Upgraded to Strong-Buy at Wall Street Zen

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday.

Several other equities research analysts have also commented on CALM. Stephens reissued an "equal weight" rating and set a $97.00 price target on shares of Cal-Maine Foods in a research note on Wednesday, April 23rd. BMO Capital Markets upgraded Cal-Maine Foods to a "hold" rating in a research report on Tuesday, May 6th.

Cal-Maine Foods Stock Performance

CALM traded down $1.74 during trading on Friday, reaching $101.16. The company's stock had a trading volume of 739,879 shares, compared to its average volume of 758,636. Cal-Maine Foods has a 52-week low of $62.35 and a 52-week high of $116.41. The company's fifty day moving average price is $97.10 and its 200-day moving average price is $97.63. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 5.00 and a beta of 0.17.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share for the quarter, beating analysts' consensus estimates of $5.79 by $4.59. Cal-Maine Foods had a return on equity of 48.72% and a net margin of 26.08%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $953.76 million. During the same quarter in the previous year, the company earned $3.00 EPS. The firm's revenue for the quarter was up 101.6% compared to the same quarter last year. Equities analysts predict that Cal-Maine Foods will post 15.59 earnings per share for the current year.

Insider Activity

In other Cal-Maine Foods news, insider Adolphus B. Baker sold 1,287,616 shares of the business's stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $90.60, for a total value of $116,658,009.60. Following the completion of the transaction, the insider directly owned 1,702,853 shares in the company, valued at approximately $154,278,481.80. The trade was a 43.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 13.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Financial Management Professionals Inc. acquired a new position in Cal-Maine Foods in the 1st quarter valued at $30,000. Investment Management Corp VA ADV raised its holdings in Cal-Maine Foods by 172.2% in 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. Caitong International Asset Management Co. Ltd acquired a new position in Cal-Maine Foods in the 1st quarter valued at $52,000. Blue Trust Inc. raised its holdings in Cal-Maine Foods by 388.2% in the 1st quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock valued at $56,000 after acquiring an additional 493 shares during the last quarter. Finally, Quarry LP raised its holdings in Cal-Maine Foods by 1,470.5% in the 1st quarter. Quarry LP now owns 691 shares of the basic materials company's stock valued at $63,000 after acquiring an additional 647 shares during the last quarter. 84.67% of the stock is currently 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.