Cal-Maine Foods (NASDAQ:CALM) Cut to “Strong Sell” at Wall Street Zen

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

Other equities research analysts have also issued research reports about the company. Benchmark lowered Cal-Maine Foods from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 4th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $70.00 price objective on shares of Cal-Maine Foods in a research report on Friday, September 18th. Weiss Ratings cut shares of Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. Wells Fargo & Company set a $100.00 target price on shares of Cal-Maine Foods in a research report on Monday, July 13th. Finally, Stephens set a $80.00 price target on shares of Cal-Maine Foods and gave the company an “equal weight” rating in a research note on Tuesday, September 22nd. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $88.86.

Cal-Maine Foods Price Performance

Shares of CALM stock opened at $67.36 on Friday. Cal-Maine Foods has a 1-year low of $66.62 and a 1-year high of $98.44. The stock’s fifty day moving average price is $80.20 and its 200 day moving average price is $79.60. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 10.28 and a beta of 0.23.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Wednesday, July 22nd. The basic materials company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.84). Cal-Maine Foods had a net margin of 10.88% and a return on equity of 11.79%. The business had revenue of $552.58 million for the quarter, compared to analyst estimates of $563.83 million. During the same period in the prior year, the company earned $7.04 earnings per share. The company’s quarterly revenue was down 49.9% on a year-over-year basis.

Institutional Trading of Cal-Maine Foods

Several large investors have recently added to or reduced their stakes in CALM. Dimensional Fund Advisors LP increased its holdings in Cal-Maine Foods by 13.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,519,483 shares of the basic materials company’s stock worth $199,416,000 after buying an additional 300,910 shares during the period. First Trust Advisors LP raised its position in Cal-Maine Foods by 29.7% during the 1st quarter. First Trust Advisors LP now owns 1,552,297 shares of the basic materials company’s stock worth $122,864,000 after buying an additional 355,762 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Cal-Maine Foods during the 2nd quarter valued at approximately $57,894,000. Bank of America Corp DE lifted its stake in Cal-Maine Foods by 21.9% during the 1st quarter. Bank of America Corp DE now owns 505,359 shares of the basic materials company’s stock valued at $39,999,000 after acquiring an additional 90,779 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Cal-Maine Foods in the 4th quarter valued at $28,864,000. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc is a leading producer and distributor of shell eggs in the United States. The company manages a vertically integrated business that includes egg production, processing, packaging, marketing and distribution. Its products are sold to retail grocery chains, foodservice customers, food processors and institutional buyers.

Cal-Maine offers conventional shell eggs as well as specialty products, including cage-free, organic, brown, free-range and nutritionally enhanced eggs.