BMO Capital Markets Lowers Cal-Maine Foods (NASDAQ:CALM) Price Target to $85.00

Cal-Maine Foods (NASDAQ:CALM) had its price target decreased by investment analysts at BMO Capital Markets from $97.00 to $85.00 in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage presently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ target price points to a potential upside of 15.35% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a research note on Monday. The Goldman Sachs Group reduced their price target on shares of Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, October 3rd. Stephens set a $95.00 target price on shares of Cal-Maine Foods and gave the stock an “equal weight” rating in a research report on Tuesday, December 30th. Finally, Lake Street Capital set a $97.00 price target on shares of Cal-Maine Foods in a research note on Friday, October 3rd. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $93.00.

Cal-Maine Foods Stock Down 2.3%

NASDAQ:CALM opened at $73.69 on Thursday. The stock has a market cap of $3.57 billion, a P/E ratio of 3.11 and a beta of 0.26. The business’s 50-day moving average price is $84.60 and its two-hundred day moving average price is $96.38. Cal-Maine Foods has a twelve month low of $72.52 and a twelve month high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Cal-Maine Foods had a return on equity of 44.55% and a net margin of 27.37%.The company had revenue of $769.50 million during the quarter, compared to the consensus estimate of $828.46 million. During the same quarter last year, the company posted $4.47 earnings per share. The firm’s revenue for the quarter was down 19.4% on a year-over-year basis. On average, equities research analysts expect that Cal-Maine Foods will post 15.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Cal-Maine Foods

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in Cal-Maine Foods by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,052,171 shares of the basic materials company’s stock valued at $193,118,000 after purchasing an additional 39,669 shares during the period. State Street Corp lifted its stake in shares of Cal-Maine Foods by 6.8% in the 2nd quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock valued at $171,038,000 after purchasing an additional 108,578 shares during the period. American Century Companies Inc. boosted its position in shares of Cal-Maine Foods by 3.5% during the third quarter. American Century Companies Inc. now owns 1,618,491 shares of the basic materials company’s stock valued at $152,300,000 after purchasing an additional 54,757 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Cal-Maine Foods by 7.5% during the second quarter. Geode Capital Management LLC now owns 1,095,246 shares of the basic materials company’s stock valued at $109,132,000 after purchasing an additional 76,102 shares in the last quarter. Finally, Squarepoint Ops LLC grew its stake in Cal-Maine Foods by 60.1% in the second quarter. Squarepoint Ops LLC now owns 934,037 shares of the basic materials company’s stock worth $93,058,000 after purchasing an additional 350,771 shares during the period. Institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Company Profile

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.