Cal-Maine Foods (NASDAQ:CALM) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Cal-Maine Foods (NASDAQ:CALM) from a hold rating to a sell rating in a research note released on Saturday morning.

A number of other research analysts have also issued reports on the stock. Weiss Ratings lowered shares of Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. BMO Capital Markets boosted their target price on shares of Cal-Maine Foods from $75.00 to $83.00 and gave the stock a “market perform” rating in a report on Thursday. Wells Fargo & Company set a $100.00 price target on shares of Cal-Maine Foods in a research report on Monday, July 13th. Royal Bank Of Canada set a $100.00 price objective on Cal-Maine Foods in a report on Tuesday, May 26th. Finally, Stephens lowered their target price on Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $94.71.

Cal-Maine Foods Stock Up 2.5%

NASDAQ CALM opened at $90.32 on Friday. Cal-Maine Foods has a twelve month low of $71.92 and a twelve month high of $117.45. The company has a market cap of $4.28 billion, a price-to-earnings ratio of 13.79 and a beta of 0.25. The business’s fifty day moving average is $80.57 and its 200 day moving average is $80.49.

Cal-Maine Foods (NASDAQ:CALM) last issued 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 firm had revenue of $552.58 million during 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%.Cal-Maine Foods’s revenue for the quarter was down 49.9% on a year-over-year basis. During the same period in the previous year, the company earned $7.04 EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Pinnacle Holdings LLC acquired a new stake in shares of Cal-Maine Foods during the fourth quarter worth $30,000. WealthCollab LLC grew its holdings in Cal-Maine Foods by 105.2% during the 4th quarter. WealthCollab LLC now owns 431 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 221 shares during the period. IFP Advisors Inc grew its holdings in Cal-Maine Foods by 58.2% during the 3rd quarter. IFP Advisors Inc now owns 378 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 139 shares during the period. Signaturefd LLC raised its position in shares of Cal-Maine Foods by 46.5% in the 4th quarter. Signaturefd LLC now owns 488 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 155 shares in the last quarter. Finally, National Bank of Canada FI acquired a new position in shares of Cal-Maine Foods in the 3rd quarter valued at about $42,000. Institutional investors and hedge funds 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. 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.