Cal-Maine Foods (NASDAQ:CALM) Price Target Raised to $108.00

Cal-Maine Foods (NASDAQ:CALM) had its price objective hoisted by Stephens from $97.00 to $108.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the basic materials company’s stock. Stephens’ price objective points to a potential upside of 5.90% from the company’s previous close.

A number of other brokerages also recently issued reports on CALM. BMO Capital Markets raised Cal-Maine Foods to a “hold” rating in a research note on Tuesday, May 6th. Wall Street Zen upgraded shares of Cal-Maine Foods from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 5th.

Cal-Maine Foods Price Performance

Shares of Cal-Maine Foods stock opened at $101.98 on Tuesday. The stock’s 50 day simple moving average is $97.70 and its 200-day simple moving average is $97.61. The stock has a market cap of $5.00 billion, a P/E ratio of 5.04 and a beta of 0.17. Cal-Maine Foods has a 1-year low of $62.69 and a 1-year high of $116.41.

Insider Activity at Cal-Maine Foods

In related news, insider Adolphus B. Baker sold 1,287,616 shares of Cal-Maine Foods stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $90.60, for a total value of $116,658,009.60. Following the completion of the sale, the insider owned 1,702,853 shares in the company, valued at approximately $154,278,481.80. This trade represents a 43.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.45% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new stake in shares of Cal-Maine Foods in the 1st quarter valued at $30,000. Investment Management Corp VA ADV grew its holdings in shares of Cal-Maine Foods by 172.2% in the first quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 248 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Cal-Maine Foods during the 1st quarter worth approximately $52,000. AdvisorNet Financial Inc purchased a new stake in Cal-Maine Foods during the 2nd quarter worth approximately $54,000. Finally, Blue Trust Inc. lifted its holdings in Cal-Maine Foods by 388.2% during the 1st quarter. Blue Trust Inc. now owns 620 shares of the basic materials company’s stock worth $56,000 after buying an additional 493 shares in the last quarter. 84.67% of the stock is currently 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.