Cal-Maine Foods, Inc. (NASDAQ:CALM – Get Free Report) reached a new 52-week low during trading on Tuesday. The company traded as low as $63.34 and last traded at $63.40, with a volume of 1765460 shares traded. The stock had previously closed at $64.99.
Wall Street Analyst Weigh In
Several analysts recently issued reports on CALM shares. BMO Capital Markets reaffirmed a “market perform” rating and issued a $75.00 price target (down from $83.00) on shares of Cal-Maine Foods in a report on Thursday, September 24th. Raymond James Financial lowered shares of Cal-Maine Foods to an “outperform” rating in a research note on Thursday, October 1st. Benchmark cut shares of Cal-Maine Foods from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 4th. Weiss Ratings cut Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd. Finally, The Goldman Sachs Group set a $60.00 target price on shares of Cal-Maine Foods in a research report on Thursday. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $84.17.
View Our Latest Report on CALM
Cal-Maine Foods Stock Performance
Cal-Maine Foods (NASDAQ:CALM – Get Free Report) last issued its quarterly earnings data on Wednesday, September 30th. The basic materials company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.49). The company had revenue of $539.61 million for the quarter, compared to analyst estimates of $561.57 million. Cal-Maine Foods had a net margin of 2.32% and a return on equity of 2.21%. The business’s revenue was down 41.5% on a year-over-year basis. During the same period in the prior year, the company posted $4.12 EPS.
Institutional Investors Weigh In On Cal-Maine Foods
Several hedge funds and other institutional investors have recently modified their holdings of CALM. Bank of New York Mellon Corp acquired a new position in Cal-Maine Foods during the second quarter valued at approximately $57,894,000. First Trust Advisors LP increased its position in shares of 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 valued at $122,864,000 after buying an additional 355,762 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Cal-Maine Foods by 13.6% during the 1st 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 during the period. Janus Henderson Group PLC raised its stake in Cal-Maine Foods by 68.8% during the 1st quarter. Janus Henderson Group PLC now owns 353,751 shares of the basic materials company’s stock worth $27,997,000 after buying an additional 144,140 shares during the period. Finally, Hound Partners LLC lifted its holdings in Cal-Maine Foods by 163.6% during the first quarter. Hound Partners LLC now owns 203,851 shares of the basic materials company’s stock worth $16,135,000 after acquiring an additional 126,510 shares in the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.
Cal-Maine Foods Company Profile
Cal-Maine Foods, Inc is a major producer and distributor of shell eggs in the United States. The company supplies eggs to grocery retailers, foodservice operators, food distributors and institutional customers under both its own brands and private-label programs.
Its product portfolio includes conventional eggs as well as specialty products such as cage-free, organic, free-range, brown, pasture-raised and nutritionally enhanced eggs. Cal-Maine also markets hard-boiled eggs and other value-added egg products, and sells eggs through a network of production, processing, packaging and distribution facilities.
Founded in 1969 and headquartered in Jackson, Mississippi, Cal-Maine serves customers throughout the United States and has expanded through acquisitions and investments in production capacity.
Recommended Stories
- Five stocks we like better than Cal-Maine Foods
- Constellation Energy’s Google Deal Shows Why Nuclear Uprates Matter for AI
- Lamb Weston’s Turnaround Is Starting to Look Real
- These 3 Stocks Got the Most Love From Analysts in September
- Record French Debt Could Create Opportunities for U.S. Market Operators
Receive News & Ratings for Cal-Maine Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cal-Maine Foods and related companies with MarketBeat.com's FREE daily email newsletter.
