Cal-Maine Foods (NASDAQ:CALM) Trading Up 4.9% – Still a Buy?

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s stock price shot up 4.9% during mid-day trading on Monday . The stock traded as high as $87.20 and last traded at $86.8490. 88,959 shares traded hands during trading, a decline of 91% from the average daily volume of 990,325 shares. The stock had previously closed at $82.80.

Analyst Upgrades and Downgrades

CALM has been the topic of several recent research reports. Weiss Ratings lowered shares of Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 23rd. Stephens dropped their target price on shares of Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, July 14th. Royal Bank Of Canada set a $100.00 target price on shares of Cal-Maine Foods in a research report on Tuesday, May 26th. Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a report on Monday, July 13th. Finally, BMO Capital Markets increased their price target on shares of Cal-Maine Foods from $75.00 to $83.00 and gave the company a “market perform” rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $94.71.

Cal-Maine Foods Price Performance

The company has a market cap of $4.06 billion, a PE ratio of 13.16 and a beta of 0.25. The firm has a 50-day simple moving average of $83.78 and a two-hundred day simple moving average of $81.35.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings data 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). The company had revenue of $552.58 million during the quarter, compared to analysts’ expectations of $563.83 million. Cal-Maine Foods had a net margin of 10.88% and a return on equity of 11.79%. The firm’s revenue was down 49.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.04 earnings per share.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CALM. California State Teachers Retirement System boosted its holdings in shares of Cal-Maine Foods by 7,727.9% during the second quarter. California State Teachers Retirement System now owns 4,007,941 shares of the basic materials company’s stock worth $322,880,000 after purchasing an additional 3,956,740 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Cal-Maine Foods in the second quarter valued at $57,894,000. Northwestern Mutual Wealth Management Co. increased its stake in Cal-Maine Foods by 3,014.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 623,571 shares of the basic materials company’s stock valued at $49,618,000 after purchasing an additional 603,551 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in Cal-Maine Foods during the fourth quarter worth about $28,864,000. Finally, First Trust Advisors LP lifted its position in Cal-Maine Foods by 29.7% during the first 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 period. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Company Profile

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.