Cal-Maine Foods (NASDAQ:CALM) Upgraded by BMO Capital Markets to "Hold" Rating

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) was upgraded by research analysts at BMO Capital Markets to a "hold" rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the company. StockNews.com cut Cal-Maine Foods from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Stephens reaffirmed an "equal weight" rating and set a $97.00 price target on shares of Cal-Maine Foods in a research report on Wednesday, April 23rd.

Cal-Maine Foods Stock Up 0.6 %

CALM traded up $0.53 during trading hours on Tuesday, hitting $91.26. 574,662 shares of the company's stock were exchanged, compared to its average volume of 740,140. Cal-Maine Foods has a 1-year low of $57.13 and a 1-year high of $116.41. The stock's 50-day moving average is $91.53 and its two-hundred day moving average is $97.04. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 7.10 and a beta of 0.18.

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 the consensus estimate of $5.79 by $4.59. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The company had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $953.76 million. During the same quarter last year, the company earned $3.00 EPS. Cal-Maine Foods's revenue for the quarter was up 101.6% compared to the same quarter last year. On average, equities research analysts anticipate that Cal-Maine Foods will post 15.59 EPS for the current year.

Insider Buying and Selling

In other Cal-Maine Foods news, insider Adolphus B. Baker sold 140,266 shares of the stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $90.60, for a total transaction of $12,708,099.60. Following the completion of the sale, the insider now owns 1,319,034 shares of the company's stock, valued at approximately $119,504,480.40. This represents a 9.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.45% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cal-Maine Foods

A number of hedge funds have recently added to or reduced their stakes in CALM. Financial Management Professionals Inc. bought a new stake in shares of Cal-Maine Foods during the first quarter valued at approximately $30,000. Investment Management Corp VA ADV grew its stake 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 purchasing an additional 248 shares during the period. Blue Trust Inc. increased its holdings in Cal-Maine Foods by 388.2% during the first 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 in the first quarter valued at approximately $77,000. Finally, Harbor Capital Advisors Inc. grew its stake in shares of 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 acquiring an additional 513 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.