Stephens Lowers Cal-Maine Foods (NASDAQ:CALM) Price Target to $85.00

Cal-Maine Foods (NASDAQ:CALM) had its price objective cut by equities research analysts at Stephens from $90.00 to $85.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the basic materials company’s stock. Stephens’ price target would indicate a potential upside of 2.95% from the company’s previous close.

CALM has been the topic of a number of other research reports. Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a research report on Monday. Weiss Ratings reiterated a “hold (c)” rating on shares of Cal-Maine Foods in a research report on Wednesday, July 8th. Wells Fargo & Company set a $100.00 target price on shares of Cal-Maine Foods in a research note on Monday. BMO Capital Markets dropped their target price on shares of Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating on the stock in a report on Wednesday, March 25th. Finally, Royal Bank Of Canada set a $100.00 price target on shares of Cal-Maine Foods in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Cal-Maine Foods has a consensus rating of “Hold” and an average price target of $94.29.

Cal-Maine Foods Price Performance

Shares of Cal-Maine Foods stock traded down $0.84 during midday trading on Tuesday, reaching $82.57. The company had a trading volume of 75,354 shares, compared to its average volume of 996,553. The stock has a fifty day moving average price of $78.69 and a 200 day moving average price of $80.08. Cal-Maine Foods has a fifty-two week low of $71.92 and a fifty-two week high of $126.40. The firm has a market cap of $3.91 billion, a PE ratio of 5.76 and a beta of 0.25.

Hedge Funds Weigh In On Cal-Maine Foods

Several institutional investors have recently made changes to their positions in CALM. Wedge Capital Management L L P NC boosted its position in shares of Cal-Maine Foods by 20.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 29,601 shares of the basic materials company’s stock worth $2,385,000 after purchasing an additional 4,956 shares in the last quarter. Eldred Rock Partners LLC increased its position in Cal-Maine Foods by 6.8% in the 2nd quarter. Eldred Rock Partners LLC now owns 132,449 shares of the basic materials company’s stock valued at $10,670,000 after buying an additional 8,482 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Cal-Maine Foods by 3.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 43,102 shares of the basic materials company’s stock worth $3,472,000 after buying an additional 1,598 shares during the period. GAMMA Investing LLC raised its stake in Cal-Maine Foods by 12.4% during the 2nd quarter. GAMMA Investing LLC now owns 3,249 shares of the basic materials company’s stock worth $262,000 after buying an additional 358 shares during the period. Finally, CoreCap Advisors LLC raised its stake in Cal-Maine Foods by 13.5% during the 2nd quarter. CoreCap Advisors LLC now owns 1,153 shares of the basic materials company’s stock worth $93,000 after buying an additional 137 shares during the period. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Company Profile

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.