Cal-Maine Foods (CALM) Downgraded to “Hold” at BidaskClub

BidaskClub downgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a buy rating to a hold rating in a research note published on Thursday morning.

CALM has been the topic of a number of other research reports. ValuEngine raised Cal-Maine Foods from a buy rating to a strong-buy rating in a research note on Tuesday, November 6th. Vertical Group downgraded Cal-Maine Foods from a hold rating to a sell rating in a research note on Thursday, December 6th. Finally, Stephens downgraded Cal-Maine Foods from an overweight rating to an equal weight rating in a research note on Monday, October 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $54.50.

NASDAQ:CALM opened at $45.10 on Thursday. Cal-Maine Foods has a 1 year low of $39.50 and a 1 year high of $52.30. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 12.67 and a beta of 0.39.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Monday, October 1st. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.23). Cal-Maine Foods had a return on equity of 18.99% and a net margin of 9.76%. The firm had revenue of $340.60 million during the quarter, compared to the consensus estimate of $346.76 million. During the same period in the previous year, the firm earned ($0.33) EPS. The business’s revenue was up 29.6% compared to the same quarter last year.

In other news, CFO Max P. Bowman acquired 2,000 shares of Cal-Maine Foods stock in a transaction on Thursday, October 11th. The shares were acquired at an average price of $45.51 per share, with a total value of $91,020.00. Following the purchase, the chief financial officer now directly owns 2,000 shares in the company, valued at approximately $91,020. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 33.03% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Federated Investors Inc. PA increased its position in shares of Cal-Maine Foods by 820.3% during the 2nd quarter. Federated Investors Inc. PA now owns 35,424 shares of the basic materials company’s stock valued at $1,625,000 after purchasing an additional 31,575 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Cal-Maine Foods by 116.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 359,099 shares of the basic materials company’s stock valued at $17,346,000 after purchasing an additional 192,912 shares during the last quarter. Chicago Equity Partners LLC bought a new position in shares of Cal-Maine Foods during the 2nd quarter valued at approximately $2,544,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Cal-Maine Foods during the 2nd quarter valued at approximately $2,719,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of Cal-Maine Foods during the 2nd quarter valued at approximately $470,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company 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.

Featured Story: Quiet Period

Receive News & Ratings for Cal-Maine Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cal-Maine Foods and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply