Cal-Maine Foods (NASDAQ:CALM) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Cal-Maine Foods (NASDAQ:CALM) from a hold rating to a sell rating in a research report released on Saturday.

Other equities analysts also recently issued research reports about the stock. Stephens lowered their price target on shares of Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 14th. Weiss Ratings cut shares of Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday. Wells Fargo & Company set a $100.00 price objective on shares of Cal-Maine Foods in a research report on Monday, July 13th. BMO Capital Markets lifted their target price on shares of Cal-Maine Foods from $75.00 to $83.00 and gave the company a “market perform” rating in a research note on Thursday, July 23rd. Finally, Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cal-Maine Foods currently has an average rating of “Hold” and an average price target of $94.71.

Cal-Maine Foods Stock Performance

NASDAQ CALM opened at $88.72 on Friday. The business’s fifty day moving average is $80.79 and its 200 day moving average is $80.57. Cal-Maine Foods has a fifty-two week low of $71.92 and a fifty-two week high of $117.45. The company has a market capitalization of $4.20 billion, a PE ratio of 13.55 and a beta of 0.25.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.84). The company had revenue of $552.58 million for 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 quarterly revenue was down 49.9% on a year-over-year basis. During the same period in the previous year, the firm earned $7.04 earnings per share.

Institutional Investors Weigh In On Cal-Maine Foods

A number of institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Cal-Maine Foods by 13.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,519,483 shares of the basic materials company’s stock worth $199,416,000 after buying an additional 300,910 shares in the last quarter. State Street Corp lifted its stake in Cal-Maine Foods by 6.8% in the 2nd quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock worth $171,038,000 after purchasing an additional 108,578 shares in the last quarter. First Trust Advisors LP lifted its stake in Cal-Maine Foods by 29.7% in the 1st quarter. First Trust Advisors LP now owns 1,552,297 shares of the basic materials company’s stock worth $122,864,000 after purchasing an additional 355,762 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Cal-Maine Foods by 9.4% during the 4th quarter. Morgan Stanley now owns 978,163 shares of the basic materials company’s stock valued at $77,832,000 after purchasing an additional 84,124 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Cal-Maine Foods by 8.4% during the 3rd quarter. Northern Trust Corp now owns 900,466 shares of the basic materials company’s stock valued at $84,734,000 after purchasing an additional 70,063 shares during the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

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.