Cal-Maine Foods (NASDAQ:CALM) Reaches New 12-Month Low – Here’s What Happened

Cal-Maine Foods, Inc. (NASDAQ:CALM) reached a new 52-week low on Monday . The stock traded as low as $78.28 and last traded at $78.7160, with a volume of 287855 shares. The stock had previously closed at $78.47.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CALM shares. The Goldman Sachs Group lowered their target price on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, October 3rd. Weiss Ratings lowered Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. Stephens set a $95.00 target price on Cal-Maine Foods and gave the stock an “equal weight” rating in a research report on Tuesday, December 30th. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a research report on Monday. Finally, BMO Capital Markets reduced their target price on shares of Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating on the stock in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Cal-Maine Foods presently has an average rating of “Hold” and an average price target of $97.40.

Cal-Maine Foods Price Performance

The company’s 50-day moving average price is $85.71 and its 200-day moving average price is $97.19. The company has a market cap of $3.85 billion, a P/E ratio of 3.05 and a beta of 0.26.

Institutional Trading of Cal-Maine Foods

Several institutional investors and hedge funds have recently bought and sold shares of CALM. Hennessy Advisors Inc. acquired a new stake in Cal-Maine Foods during the third quarter worth approximately $38,063,000. Squarepoint Ops LLC boosted its holdings in shares of Cal-Maine Foods by 60.1% in the 2nd quarter. Squarepoint Ops LLC now owns 934,037 shares of the basic materials company’s stock valued at $93,058,000 after purchasing an additional 350,771 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in Cal-Maine Foods by 1,085.8% in the third quarter. Wedge Capital Management L L P NC now owns 259,445 shares of the basic materials company’s stock valued at $24,414,000 after buying an additional 237,566 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Cal-Maine Foods by 315.2% during the 1st quarter. Empowered Funds LLC now owns 251,228 shares of the basic materials company’s stock valued at $22,837,000 after purchasing an additional 190,715 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Cal-Maine Foods by 165.6% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 291,434 shares of the basic materials company’s stock worth $29,036,000 after buying an additional 181,715 shares during the last quarter. 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. 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.