Cal-Maine Foods (NASDAQ:CALM – Get Free Report) issued its earnings results on Wednesday. The basic materials company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.84), FiscalAI reports. Cal-Maine Foods had a return on equity of 26.05% and a net margin of 20.07%.The firm had revenue of $552.58 million during the quarter, compared to the consensus estimate of $563.83 million. During the same period in the prior year, the company posted $7.04 EPS.
Cal-Maine Foods Trading Down 1.3%
Shares of Cal-Maine Foods stock opened at $87.25 on Wednesday. The firm has a market cap of $4.13 billion, a PE ratio of 6.08 and a beta of 0.25. The stock has a 50 day moving average of $79.93 and a 200 day moving average of $80.30. Cal-Maine Foods has a 12 month low of $71.92 and a 12 month high of $126.40.
Analysts Set New Price Targets
CALM has been the topic of a number of recent analyst reports. Wells Fargo & Company set a $100.00 price target on Cal-Maine Foods in a report on Monday, July 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cal-Maine Foods in a research note on Wednesday, July 8th. BMO Capital Markets cut their target price on Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating for the company in a research report on Wednesday, March 25th. Royal Bank Of Canada set a $100.00 target price on Cal-Maine Foods in a research note on Tuesday, May 26th. Finally, Stephens lowered their price target on 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. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Cal-Maine Foods has a consensus rating of “Hold” and an average price target of $94.29.
Institutional Trading of Cal-Maine Foods
Hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Cal-Maine Foods by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,401 shares of the basic materials company’s stock valued at $2,218,000 after acquiring an additional 1,057 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Cal-Maine Foods by 100.8% in the first quarter. NewEdge Advisors LLC now owns 7,985 shares of the basic materials company’s stock valued at $726,000 after purchasing an additional 4,009 shares in the last quarter. United Services Automobile Association bought a new stake in Cal-Maine Foods in the first quarter worth $245,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Cal-Maine Foods by 10.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,422 shares of the basic materials company’s stock worth $7,765,000 after purchasing an additional 7,736 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Cal-Maine Foods by 323.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,087 shares of the basic materials company’s stock valued at $108,000 after purchasing an additional 830 shares in 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.
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