Stephens Increases Cal-Maine Foods (NASDAQ:CALM) Price Target to $90.00

Cal-Maine Foods (NASDAQ:CALM) had its target price hoisted by stock analysts at Stephens from $85.00 to $90.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the basic materials company’s stock. Stephens’ target price would suggest a potential upside of 3.90% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on CALM. BMO Capital Markets reduced their target price on shares of Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating for the company in a research note on Thursday, January 8th. Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a report on Tuesday, March 3rd. Finally, Weiss Ratings downgraded Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $94.00.

Cal-Maine Foods Price Performance

NASDAQ:CALM opened at $86.62 on Wednesday. Cal-Maine Foods has a one year low of $71.92 and a one year high of $126.40. The company has a fifty day moving average price of $82.90 and a 200 day moving average price of $88.50. The stock has a market cap of $4.13 billion, a P/E ratio of 3.66 and a beta of 0.26.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). Cal-Maine Foods had a return on equity of 44.55% and a net margin of 27.37%.The company had revenue of $769.50 million during the quarter, compared to analyst estimates of $828.46 million. During the same quarter in the prior year, the business earned $4.47 earnings per share. The business’s revenue for the quarter was down 19.4% on a year-over-year basis. As a group, equities research analysts anticipate that Cal-Maine Foods will post 15.59 EPS for the current year.

Institutional Trading of Cal-Maine Foods

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CALM. Dimensional Fund Advisors LP raised its position in Cal-Maine Foods by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,218,573 shares of the basic materials company’s stock worth $176,536,000 after purchasing an additional 166,402 shares in the last quarter. State Street Corp boosted its holdings in Cal-Maine Foods by 6.8% during the second quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock valued at $171,038,000 after purchasing an additional 108,578 shares in the last quarter. American Century Companies Inc. boosted its holdings in Cal-Maine Foods by 3.5% during the third quarter. American Century Companies Inc. now owns 1,618,491 shares of the basic materials company’s stock valued at $152,300,000 after purchasing an additional 54,757 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Cal-Maine Foods by 8.8% in the 4th quarter. First Trust Advisors LP now owns 1,196,535 shares of the basic materials company’s stock valued at $95,208,000 after purchasing an additional 96,589 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Cal-Maine Foods by 7.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,095,246 shares of the basic materials company’s stock valued at $109,132,000 after purchasing an additional 76,102 shares during the period. 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.