Stephens Forecasts Strong Price Appreciation for Cal-Maine Foods (NASDAQ:CALM) Stock

Cal-Maine Foods (NASDAQ:CALM) had its price target hoisted by research analysts at Stephens from $85.00 to $90.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the basic materials company’s stock. Stephens’ price objective points to a potential upside of 10.76% from the company’s current price.

CALM has been the subject of a number of other research reports. Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a report on Tuesday, March 3rd. Weiss Ratings lowered Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. Finally, BMO Capital Markets lowered their price target on Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating for the company in a research report on Thursday, January 8th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $94.00.

Cal-Maine Foods Trading Down 2.9%

Shares of NASDAQ CALM opened at $81.26 on Wednesday. Cal-Maine Foods has a 12-month low of $71.92 and a 12-month high of $126.40. The firm’s 50-day moving average price is $83.14 and its 200-day moving average price is $88.42. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 3.43 and a beta of 0.26.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Wednesday, January 7th. The basic materials company reported $2.13 EPS 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 analysts’ expectations of $828.46 million. During the same quarter in the prior year, the business posted $4.47 EPS. The company’s revenue was down 19.4% on a year-over-year basis. On average, equities analysts predict that Cal-Maine Foods will post 15.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Cal-Maine Foods

A number of hedge funds and other institutional investors have recently modified their holdings of CALM. Pinnacle Holdings LLC bought a new stake in Cal-Maine Foods during the 4th quarter valued at $30,000. Sound Income Strategies LLC bought a new position in shares of Cal-Maine Foods in the 3rd quarter worth $32,000. WealthCollab LLC lifted its stake in shares of Cal-Maine Foods by 105.2% during the 4th quarter. WealthCollab LLC now owns 431 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 221 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Cal-Maine Foods by 58.2% during 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 during the last quarter. Finally, Signaturefd LLC boosted its position in Cal-Maine Foods by 46.5% during the fourth quarter. Signaturefd LLC now owns 488 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 155 shares in the last quarter. 84.67% of the stock is currently owned by 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.