StockNews.com Upgrades Cal-Maine Foods (NASDAQ:CALM) to Buy

StockNews.com upgraded shares of Cal-Maine Foods (NASDAQ:CALM - Free Report) from a hold rating to a buy rating in a report issued on Thursday.

Separately, Stephens reaffirmed an "equal weight" rating and issued a $97.00 price target on shares of Cal-Maine Foods in a research report on Wednesday, April 23rd.

Cal-Maine Foods Stock Performance

CALM stock traded up $1.34 during mid-day trading on Thursday, reaching $96.84. The company had a trading volume of 935,247 shares, compared to its average volume of 725,752. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 7.54 and a beta of 0.11. The firm has a fifty day simple moving average of $90.90 and a 200 day simple moving average of $97.01. Cal-Maine Foods has a fifty-two week low of $55.15 and a fifty-two week high of $116.41.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.79 by $4.59. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $953.76 million. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. Cal-Maine Foods's revenue for the quarter was up 101.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.00 EPS. As a group, analysts predict that Cal-Maine Foods will post 15.59 earnings per share for the current year.

Insider Transactions at Cal-Maine Foods

In other news, insider Adolphus B. Baker sold 140,266 shares of the firm's stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $90.60, for a total transaction of $12,708,099.60. Following the sale, the insider now owns 1,319,034 shares of the company's stock, valued at approximately $119,504,480.40. This trade represents a 9.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.45% of the company's stock.

Institutional Investors Weigh In On Cal-Maine Foods

Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Management Professionals Inc. acquired a new stake in shares of Cal-Maine Foods during the 1st quarter worth about $30,000. Blue Trust Inc. grew its stake in Cal-Maine Foods by 388.2% during the 1st quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock worth $56,000 after buying an additional 493 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in Cal-Maine Foods during the 1st quarter worth approximately $77,000. Harbor Capital Advisors Inc. grew its stake in Cal-Maine Foods by 126.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 920 shares of the basic materials company's stock worth $84,000 after buying an additional 513 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Cal-Maine Foods by 339.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company's stock worth $105,000 after buying an additional 797 shares during the last quarter. Institutional investors and hedge funds own 84.67% of the company's stock.

Cal-Maine Foods Company Profile

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.