The Goldman Sachs Group Has Lowered Expectations for Cal-Maine Foods (NASDAQ:CALM) Stock Price

Key Points

• Goldman Sachs has lowered its target price for Cal-Maine Foods from $110.00 to $98.00, maintaining a "neutral" rating on the stock.
• Other analysts have also downgraded the stock, with Wall Street Zen changing its rating from "buy" to "hold" and analysts setting a consensus rating of "Hold" with an average target price of $103.75.
• Cal-Maine Foods reported quarterly earnings of $4.12 EPS, missing analysts' expectations, while revenue increased by 17.4% year-over-year despite falling short of projections.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) had its target price dropped by The Goldman Sachs Group from $110.00 to $98.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the basic materials company's stock. The Goldman Sachs Group's target price would indicate a potential upside of 5.57% from the stock's previous close.

Other analysts have also issued research reports about the company. Wall Street Zen lowered Cal-Maine Foods from a "buy" rating to a "hold" rating in a report on Saturday, August 23rd. Lake Street Capital set a $97.00 price objective on Cal-Maine Foods in a report on Friday. Stephens upped their price objective on Cal-Maine Foods from $108.00 to $115.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. Finally, BMO Capital Markets upped their price objective on Cal-Maine Foods from $100.00 to $105.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Cal-Maine Foods currently has a consensus rating of "Hold" and an average target price of $103.75.

Cal-Maine Foods Stock Up 0.3%

Cal-Maine Foods stock traded up $0.25 during mid-day trading on Friday, hitting $92.83. 847,412 shares of the company's stock traded hands, compared to its average volume of 966,424. The firm has a 50 day moving average price of $107.28 and a 200 day moving average price of $100.31. The company has a market cap of $4.55 billion, a PE ratio of 3.57 and a beta of 0.22. Cal-Maine Foods has a one year low of $79.44 and a one year high of $126.40.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 1st. The basic materials company reported $4.12 EPS for the quarter, missing analysts' consensus estimates of $4.55 by ($0.43). The firm had revenue of $922.60 million during the quarter, compared to the consensus estimate of $931.62 million. Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The firm's quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.06 EPS. On average, analysts expect that Cal-Maine Foods will post 15.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. IFP Advisors Inc grew its holdings in shares of Cal-Maine Foods by 195.1% during the second quarter. IFP Advisors Inc now owns 239 shares of the basic materials company's stock valued at $25,000 after buying an additional 158 shares in the last quarter. Investment Management Corp VA ADV grew its holdings in shares of Cal-Maine Foods by 172.2% during the first quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company's stock valued at $36,000 after buying an additional 248 shares in the last quarter. AdvisorNet Financial Inc purchased a new position in shares of Cal-Maine Foods during the second quarter valued at $54,000. Caitong International Asset Management Co. Ltd purchased a new position in Cal-Maine Foods in the first quarter valued at about $52,000. Finally, Blue Trust Inc. grew its stake in Cal-Maine Foods by 388.2% in the first quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock valued at $56,000 after purchasing an additional 493 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company's stock.

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.

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