Cal-Maine Foods (NASDAQ:CALM – Get Free Report) was downgraded by investment analysts at Benchmark from a “strong-buy” rating to a “hold” rating in a note issued to investors on Friday, Zacks reports.
Several other research analysts have also recently issued reports on the company. Royal Bank Of Canada set a $100.00 target price on Cal-Maine Foods in a research report on Tuesday, May 26th. Wall Street Zen lowered shares of Cal-Maine Foods from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Stephens lowered their price objective on shares of Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 14th. Weiss Ratings downgraded shares of Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd. Finally, Wells Fargo & Company set a $100.00 target price on shares of Cal-Maine Foods in a report on Monday, July 13th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $94.71.
Read Our Latest Stock Analysis on Cal-Maine Foods
Cal-Maine Foods Trading Down 1.8%
Cal-Maine Foods (NASDAQ:CALM – Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.84). Cal-Maine Foods had a return on equity of 11.79% and a net margin of 10.88%.The firm had revenue of $552.58 million during the quarter, compared to analysts’ expectations of $563.83 million. During the same quarter last year, the business earned $7.04 earnings per share. The business’s quarterly revenue was down 49.9% on a year-over-year basis.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew its stake in shares of Cal-Maine Foods by 12.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,022 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 116 shares during the period. MML Investors Services LLC lifted its position in shares of Cal-Maine Foods by 1.8% in 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 lifted its holdings in 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 in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Cal-Maine Foods by 13.5% in the second quarter. CoreCap Advisors LLC now owns 1,153 shares of the basic materials company’s stock worth $93,000 after buying an additional 137 shares in the last quarter. Finally, IFP Advisors Inc lifted 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. 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.
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