Cal-Maine (CALM) Sets New 12-Month High and Low at $51.20

Shares of Cal-Maine (NASDAQ:CALM) reached a new 52-week high and low on Thursday . The company traded as low as $51.20 and last traded at $50.50, with a volume of 3115 shares traded. The stock had previously closed at $50.65.

CALM has been the subject of a number of recent research reports. BidaskClub raised Cal-Maine from a “hold” rating to a “buy” rating in a research report on Tuesday, March 27th. Zacks Investment Research cut Cal-Maine from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 27th. Stephens increased their price objective on Cal-Maine from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 3rd. ValuEngine cut Cal-Maine from a “buy” rating to a “hold” rating in a research report on Tuesday, June 5th. Finally, TheStreet raised Cal-Maine from a “c” rating to a “b” rating in a research report on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $46.67.

The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of -32.89 and a beta of 0.59.

Cal-Maine (NASDAQ:CALM) last posted its quarterly earnings results on Monday, April 2nd. The basic materials company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.26 by $0.01. The business had revenue of $435.80 million during the quarter, compared to analysts’ expectations of $404.33 million. Cal-Maine had a return on equity of 5.62% and a net margin of 2.23%. The company’s quarterly revenue was up 42.2% compared to the same quarter last year. During the same period last year, the firm earned $0.09 EPS. equities analysts predict that Cal-Maine will post 2.95 EPS for the current fiscal year.

In other news, VP Charles Jeff Hardin sold 2,036 shares of the firm’s stock in a transaction that occurred on Friday, April 6th. The stock was sold at an average price of $47.39, for a total value of $96,486.04. Following the completion of the sale, the vice president now directly owns 3,800 shares of the company’s stock, valued at approximately $180,082. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 33.22% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of CALM. Diamond Hill Capital Management Inc. acquired a new stake in shares of Cal-Maine in the 1st quarter valued at approximately $10,961,000. Millennium Management LLC lifted its holdings in shares of Cal-Maine by 98.5% in the 1st quarter. Millennium Management LLC now owns 335,694 shares of the basic materials company’s stock valued at $14,670,000 after buying an additional 166,574 shares during the period. Dean Capital Management acquired a new stake in shares of Cal-Maine in the 4th quarter valued at approximately $2,780,000. BlackRock Inc. lifted its holdings in shares of Cal-Maine by 1.5% in the 1st quarter. BlackRock Inc. now owns 3,828,096 shares of the basic materials company’s stock valued at $167,289,000 after buying an additional 56,980 shares during the period. Finally, Paloma Partners Management Co lifted its holdings in shares of Cal-Maine by 135.0% in the 4th quarter. Paloma Partners Management Co now owns 12,999 shares of the basic materials company’s stock valued at $578,000 after buying an additional 50,123 shares during the period. 56.89% of the stock is owned by institutional investors and hedge funds.

Cal-Maine Company Profile

Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. It offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.

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