Cal-Maine Foods Target of Unusually High Options Trading (NASDAQ:CALM)

Key Points

• Cal-Maine Foods saw unusually heavy options activity on Tuesday, with 4,051 put options traded — about 271% above its average daily put volume.
• Analyst sentiment remains mixed: the stock has a consensus Hold rating and an average price target of $94.29, while recent firm targets ranged from $85 to $100.
• Shares were little changed at $88.48 in Tuesday trading, and the company has a relatively low P/E ratio of 6.15 and a beta of 0.25, suggesting a defensive profile.

Cal-Maine Foods, Inc. (NASDAQ:CALM - Get Free Report) saw unusually large options trading on Tuesday. Stock investors purchased 4,051 put options on the company. This represents an increase of 271% compared to the average daily volume of 1,093 put options.

Analysts Set New Price Targets

A number of research firms have weighed in on CALM. Royal Bank Of Canada set a $100.00 price objective on shares of Cal-Maine Foods in a research report on Tuesday, May 26th. Wells Fargo & Company set a $100.00 price target on shares of Cal-Maine Foods in a research note on Monday, July 13th. Benchmark reiterated a "buy" rating on shares of Cal-Maine Foods in a report on Monday, July 13th. Stephens reduced their price objective on shares of Cal-Maine Foods from $90.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 14th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Cal-Maine Foods in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Cal-Maine Foods currently has a consensus rating of "Hold" and an average target price of $94.29.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Cal-Maine Foods by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,401 shares of the basic materials company's stock valued at $2,218,000 after acquiring an additional 1,057 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Cal-Maine Foods by 100.8% during the 1st quarter. NewEdge Advisors LLC now owns 7,985 shares of the basic materials company's stock worth $726,000 after purchasing an additional 4,009 shares during the period. United Services Automobile Association purchased a new position in Cal-Maine Foods during the 1st quarter worth $245,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Cal-Maine Foods by 10.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,422 shares of the basic materials company's stock valued at $7,765,000 after purchasing an additional 7,736 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Cal-Maine Foods by 323.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,087 shares of the basic materials company's stock valued at $108,000 after purchasing an additional 830 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company's stock.

Cal-Maine Foods Stock Performance

CALM stock traded up $0.06 during midday trading on Tuesday, reaching $88.48. The company's stock had a trading volume of 203,557 shares, compared to its average volume of 994,734. The stock has a fifty day simple moving average of $79.76 and a two-hundred day simple moving average of $80.24. Cal-Maine Foods has a 1 year low of $71.92 and a 1 year high of $126.40. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 6.15 and a beta of 0.25.

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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.

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