Cal-Maine Foods (NASDAQ:CALM) Trading Down 5% – Should You Sell?

Cal-Maine Foods, Inc. (NASDAQ:CALM)’s share price traded down 5% on Thursday . The stock traded as low as $79.65 and last traded at $78.9140. Approximately 276,826 shares changed hands during trading, a decline of 72% from the average session volume of 988,541 shares. The stock had previously closed at $83.06.

Analyst Ratings Changes

CALM has been the topic of a number of research analyst reports. Wall Street Zen downgraded Cal-Maine Foods from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Wells Fargo & Company set a $100.00 price target on Cal-Maine Foods in a research report on Monday, July 13th. Royal Bank Of Canada set a $100.00 price target on Cal-Maine Foods in a research note on Tuesday, May 26th. Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a report on Monday, July 13th. Finally, Stephens lowered their price objective on Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $94.71.

Cal-Maine Foods Price Performance

The firm has a market cap of $3.76 billion, a P/E ratio of 12.25 and a beta of 0.25. The firm’s 50 day moving average is $84.17 and its 200 day moving average is $81.29.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results 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). Cal-Maine Foods had a net margin of 10.88% and a return on equity of 11.79%. The business had revenue of $552.58 million for the quarter, compared to the consensus estimate of $563.83 million. During the same period in the prior year, the business posted $7.04 EPS. Cal-Maine Foods’s revenue for the quarter was down 49.9% on a year-over-year basis.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC boosted its holdings in Cal-Maine Foods by 12.8% in the second quarter. Smartleaf Asset Management LLC now owns 1,022 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 116 shares in the last quarter. MML Investors Services LLC increased its holdings in shares of Cal-Maine Foods by 1.8% during the fourth quarter. MML Investors Services LLC now owns 7,428 shares of the basic materials company’s stock valued at $591,000 after acquiring an additional 131 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in shares of Cal-Maine Foods by 0.6% in the 4th quarter. Illinois Municipal Retirement Fund now owns 23,884 shares of the basic materials company’s stock worth $1,900,000 after purchasing an additional 131 shares during the last quarter. CoreCap Advisors LLC raised its position in shares of Cal-Maine Foods by 13.5% in the 2nd quarter. CoreCap Advisors LLC now owns 1,153 shares of the basic materials company’s stock worth $93,000 after purchasing an additional 137 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in Cal-Maine Foods by 58.2% in the 3rd quarter. IFP Advisors Inc now owns 378 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

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.