Cal-Maine Foods, Inc. (NASDAQ:CALM) Stock Has Consensus Price Target of $88.86 According to Analysts

Key Points

• Analysts maintain a consensus “Hold” rating on Cal-Maine Foods, with all five covering analysts recommending hold and an average 12-month price target of $88.86.
• Shares opened at $67.43, well below their 52-week high of $101.86. Recent analyst actions included a $80 target from Stephens and a $70 target from Goldman Sachs, while other firms downgraded the stock.
• Cal-Maine reported a quarterly loss of $0.76 per share, missing the $0.08 consensus estimate, as revenue fell 49.9% year over year to $552.58 million. Institutional investors and hedge funds own 84.67% of the stock.

Cal-Maine Foods, Inc. (NASDAQ:CALM - Get Free Report) has been assigned a consensus rating of "Hold" from the five brokerages that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $88.86.

A number of equities research analysts recently issued reports on CALM shares. Wall Street Zen lowered Cal-Maine Foods from a "sell" rating to a "strong sell" rating in a research note on Saturday. Stephens set a $80.00 price target on Cal-Maine Foods and gave the stock an "equal weight" rating in a report on Tuesday. Benchmark downgraded Cal-Maine Foods from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 4th. Weiss Ratings cut Cal-Maine Foods from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, July 23rd. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $70.00 target price on shares of Cal-Maine Foods in a research note on Friday, September 18th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CALM. Bank of America Corp DE grew its position in shares of Cal-Maine Foods by 21.9% in the first quarter. Bank of America Corp DE now owns 505,359 shares of the basic materials company's stock valued at $39,999,000 after purchasing an additional 90,779 shares during the period. Hound Partners LLC lifted its position in Cal-Maine Foods by 163.6% during the first quarter. Hound Partners LLC now owns 203,851 shares of the basic materials company's stock worth $16,135,000 after buying an additional 126,510 shares during the period. Bessemer Group Inc. lifted its position in Cal-Maine Foods by 60.3% during the first quarter. Bessemer Group Inc. now owns 59,116 shares of the basic materials company's stock worth $4,680,000 after buying an additional 22,233 shares during the period. Hsbc Holdings PLC boosted its stake in Cal-Maine Foods by 41.2% in the 4th quarter. Hsbc Holdings PLC now owns 53,608 shares of the basic materials company's stock worth $4,298,000 after buying an additional 15,643 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its stake in Cal-Maine Foods by 64.4% in the 1st quarter. Edgestream Partners L.P. now owns 154,627 shares of the basic materials company's stock worth $12,239,000 after buying an additional 60,558 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Trading Down 1.5%

Shares of NASDAQ CALM opened at $67.43 on Friday. The company's 50-day moving average price is $80.62 and its 200 day moving average price is $79.80. Cal-Maine Foods has a 52 week low of $66.62 and a 52 week high of $101.86. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 10.29 and a beta of 0.23.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The basic materials company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.84). The business had revenue of $552.58 million for the quarter, compared to analyst estimates of $563.83 million. Cal-Maine Foods had a return on equity of 11.79% and a net margin of 10.88%.The business's revenue was down 49.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.04 EPS.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc is a leading producer and distributor of shell eggs in the United States. The company manages a vertically integrated business that includes egg production, processing, packaging, marketing and distribution. Its products are sold to retail grocery chains, foodservice customers, food processors and institutional buyers.

Cal-Maine offers conventional shell eggs as well as specialty products, including cage-free, organic, brown, free-range and nutritionally enhanced eggs.

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