Zacks Investment Research upgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a hold rating to a strong-buy rating in a report released on Friday. The firm currently has $54.00 target price on the basic materials company’s stock.
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. “
A number of other research firms also recently commented on CALM. TheStreet upgraded Cal-Maine Foods from a c rating to a b rating in a report on Monday, April 2nd. BidaskClub downgraded Cal-Maine Foods from a hold rating to a sell rating in a report on Friday, January 5th. Cleveland Research upgraded Cal-Maine Foods from a sell rating to a neutral rating in a report on Friday, December 22nd. Finally, Stephens increased their price target on Cal-Maine Foods from $50.00 to $55.00 and gave the company an overweight rating in a report on Tuesday, April 3rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $42.50.
NASDAQ:CALM opened at $48.00 on Friday. Cal-Maine Foods has a 52 week low of $33.40 and a 52 week high of $50.40. The company has a market capitalization of $2,268.68, a P/E ratio of -31.17 and a beta of 0.62.
Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Monday, April 2nd. The basic materials company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.01. Cal-Maine Foods had a return on equity of 5.62% and a net margin of 2.23%. The firm had revenue of $435.80 million for the quarter, compared to the consensus estimate of $404.33 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The firm’s revenue was up 42.2% on a year-over-year basis. analysts expect that Cal-Maine Foods will post 1.3 EPS for the current fiscal year.
In other Cal-Maine Foods news, VP Charles Jeff Hardin sold 2,036 shares of the stock in a transaction that occurred on Friday, April 6th. The stock was sold at an average price of $47.39, for a total transaction of $96,486.04. Following the transaction, the vice president now owns 3,800 shares in the company, valued at $180,082. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 33.22% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Sei Investments Co. boosted its position in shares of Cal-Maine Foods by 42.4% in the third quarter. Sei Investments Co. now owns 3,882 shares of the basic materials company’s stock valued at $160,000 after acquiring an additional 1,156 shares during the period. American International Group Inc. boosted its position in shares of Cal-Maine Foods by 5.8% in the third quarter. American International Group Inc. now owns 24,460 shares of the basic materials company’s stock valued at $1,005,000 after acquiring an additional 1,348 shares during the period. Legal & General Group Plc boosted its position in shares of Cal-Maine Foods by 4.5% in the third quarter. Legal & General Group Plc now owns 60,534 shares of the basic materials company’s stock valued at $2,489,000 after acquiring an additional 2,589 shares during the period. Wells Fargo & Company MN boosted its position in shares of Cal-Maine Foods by 4.5% in the third quarter. Wells Fargo & Company MN now owns 63,864 shares of the basic materials company’s stock valued at $2,626,000 after acquiring an additional 2,733 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Cal-Maine Foods by 12.1% in the third quarter. Schwab Charles Investment Management Inc. now owns 253,789 shares of the basic materials company’s stock valued at $10,431,000 after acquiring an additional 27,423 shares during the period. Institutional investors own 60.47% of the company’s stock.
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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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