Cal-Maine Foods (NASDAQ:CALM) was downgraded by equities researchers at Bank of America from a “buy” rating to an “underperform” rating in a research note issued on Wednesday, The Fly reports. They currently have a $38.00 price target on the basic materials company’s stock, down from their prior price target of $47.00. Bank of America‘s price objective points to a potential upside of 5.09% from the stock’s current price.
Separately, Zacks Investment Research downgraded Cal-Maine Foods from a “hold” rating to a “sell” rating in a report on Tuesday, April 6th.
NASDAQ:CALM opened at $36.16 on Wednesday. Cal-Maine Foods has a one year low of $35.69 and a one year high of $46.66. The company has a market cap of $1.77 billion, a PE ratio of 26.39 and a beta of -0.17. The firm has a 50-day moving average of $38.20 and a 200-day moving average of $38.74.
Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Sunday, March 28th. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.20. The business had revenue of $359.10 million during the quarter, compared to the consensus estimate of $368.70 million. Cal-Maine Foods had a return on equity of 6.64% and a net margin of 4.60%. During the same quarter in the previous year, the business earned $0.28 EPS. As a group, equities research analysts predict that Cal-Maine Foods will post 0.73 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of CALM. Principal Financial Group Inc. boosted its stake in shares of Cal-Maine Foods by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 262,102 shares of the basic materials company’s stock worth $10,070,000 after buying an additional 4,988 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in Cal-Maine Foods by 26.2% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 10,583 shares of the basic materials company’s stock worth $407,000 after acquiring an additional 2,200 shares during the period. Squarepoint Ops LLC lifted its holdings in Cal-Maine Foods by 13.8% during the first quarter. Squarepoint Ops LLC now owns 68,006 shares of the basic materials company’s stock worth $2,613,000 after acquiring an additional 8,260 shares during the period. Verition Fund Management LLC bought a new position in Cal-Maine Foods in the 1st quarter valued at $271,000. Finally, Caxton Associates LP bought a new position in Cal-Maine Foods in the 1st quarter valued at $613,000. 78.80% of the stock is currently owned by hedge funds and other institutional investors.
Cal-Maine Foods Company Profile
Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land’s Best, Land O’ Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.
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