Cal-Maine Foods (NASDAQ:CALM) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a buy rating to a hold rating in a research report sent to investors on Friday, December 22nd.

According to Zacks, “Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packing and sale of fresh shell eggs, including conventional, cage-free, organic and nutritionally-enhanced eggs. The Company, which is headquartered in Jackson, Mississippi, is the largest producer and distributor of fresh shell eggs in the United States and sells the majority of its shell eggs in states across the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States. “

Several other analysts have also issued reports on the company. BidaskClub lowered Cal-Maine Foods from a strong-buy rating to a buy rating in a research note on Saturday, December 9th. Stephens upgraded Cal-Maine Foods from an equal weight rating to an overweight rating and upped their price objective for the company from $35.00 to $50.00 in a research note on Tuesday, October 3rd. Finally, Cleveland Research upgraded Cal-Maine Foods from a sell rating to a neutral rating in a research note on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $39.00.

Shares of Cal-Maine Foods (CALM) opened at $44.20 on Friday. Cal-Maine Foods has a twelve month low of $33.40 and a twelve month high of $50.40. The stock has a market capitalization of $2,146.97, a PE ratio of -34.26 and a beta of 0.76. The company has a current ratio of 2.78, a quick ratio of 1.85 and a debt-to-equity ratio of 0.01.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Friday, January 5th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.15). The business had revenue of $361.20 million during the quarter, compared to the consensus estimate of $370.85 million. Cal-Maine Foods had a negative net margin of 5.18% and a negative return on equity of 1.15%. Cal-Maine Foods’s quarterly revenue was up 42.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.48) EPS. analysts expect that Cal-Maine Foods will post 1 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of CALM. Bank of Montreal Can acquired a new position in shares of Cal-Maine Foods in the second quarter valued at approximately $385,000. Aperio Group LLC grew its position in shares of Cal-Maine Foods by 21.5% in the second quarter. Aperio Group LLC now owns 13,043 shares of the basic materials company’s stock valued at $517,000 after purchasing an additional 2,309 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of Cal-Maine Foods by 4.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 7,020 shares of the basic materials company’s stock valued at $278,000 after purchasing an additional 280 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Cal-Maine Foods by 138.3% in the second quarter. Bessemer Group Inc. now owns 3,649 shares of the basic materials company’s stock valued at $145,000 after purchasing an additional 2,118 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Cal-Maine Foods by 22.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 226,366 shares of the basic materials company’s stock valued at $8,965,000 after purchasing an additional 42,128 shares during the last quarter. 62.97% of the stock is currently owned by institutional investors.

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Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc is a producer and marketer of shell eggs in the United States. The Company operates through the segment of production, grading, packaging, marketing and distribution of shell eggs. It offers shell eggs, including specialty and non-specialty eggs. It classifies cage free, organic and brown eggs as specialty products.

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