Cal-Maine Foods (CALM) Lowered to “Sell” at Vertical Group

Cal-Maine Foods (NASDAQ:CALM) was downgraded by Vertical Group from a “hold” rating to a “sell” rating in a report issued on Thursday, The Fly reports.

Other equities research analysts have also recently issued reports about the company. BidaskClub cut Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Friday, September 28th. Stephens lowered shares of Cal-Maine Foods from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 1st. Zacks Investment Research raised shares of Cal-Maine Foods from a “hold” rating to a “strong-buy” rating and set a $54.00 price target on the stock in a research note on Thursday, August 9th. Finally, ValuEngine raised shares of Cal-Maine Foods from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $54.50.

NASDAQ:CALM opened at $43.66 on Thursday. Cal-Maine Foods has a 52 week low of $39.50 and a 52 week high of $52.30. The stock has a market cap of $2.16 billion, a PE ratio of 15.37 and a beta of 0.39.

Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Monday, October 1st. The basic materials company reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.23). Cal-Maine Foods had a net margin of 9.76% and a return on equity of 18.99%. The business had revenue of $340.60 million for the quarter, compared to analyst estimates of $346.76 million. During the same quarter last year, the business earned ($0.33) earnings per share. Cal-Maine Foods’s revenue was up 29.6% on a year-over-year basis.

In related news, CFO Max P. Bowman purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 11th. The shares were purchased at an average cost of $45.51 per share, with a total value of $91,020.00. Following the purchase, the chief financial officer now owns 2,000 shares of the company’s stock, valued at approximately $91,020. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 33.03% of the company’s stock.

A number of institutional investors have recently modified their holdings of CALM. Principal Financial Group Inc. lifted its stake in Cal-Maine Foods by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 228,144 shares of the basic materials company’s stock valued at $9,970,000 after buying an additional 5,405 shares in the last quarter. Amalgamated Bank purchased a new position in Cal-Maine Foods in the 2nd quarter worth approximately $219,000. Raymond James Financial Services Advisors Inc. purchased a new position in Cal-Maine Foods in the 2nd quarter worth approximately $470,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Cal-Maine Foods in the 2nd quarter worth approximately $1,644,000. Finally, Wedge Capital Management L L P NC purchased a new position in Cal-Maine Foods in the 2nd quarter worth approximately $246,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

About Cal-Maine Foods

Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.

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