BMO Capital Markets Has Lowered Expectations for Cal-Maine Foods (NASDAQ:CALM) Stock Price

Cal-Maine Foods (NASDAQ:CALM) had its target price cut by analysts at BMO Capital Markets from $85.00 to $80.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 1.65% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on CALM. Weiss Ratings cut Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. Stephens lifted their price objective on shares of Cal-Maine Foods from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 18th. Finally, Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cal-Maine Foods has a consensus rating of “Hold” and an average price target of $93.00.

Cal-Maine Foods Stock Up 0.8%

Shares of NASDAQ CALM opened at $78.70 on Wednesday. The business’s 50 day moving average price is $83.54 and its two-hundred day moving average price is $87.18. The company has a market cap of $3.75 billion, a PE ratio of 3.32 and a beta of 0.26. Cal-Maine Foods has a twelve month low of $71.92 and a twelve month high of $126.40.

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

Institutional Investors Weigh In On Cal-Maine Foods

Several institutional investors have recently made changes to their positions in CALM. J.W. Cole Advisors Inc. lifted its holdings in shares of Cal-Maine Foods by 3.2% in the second quarter. J.W. Cole Advisors Inc. now owns 3,280 shares of the basic materials company’s stock worth $327,000 after acquiring an additional 102 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Cal-Maine Foods by 12.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,022 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 116 shares in the last quarter. Xponance Inc. grew its holdings in shares of Cal-Maine Foods by 3.4% during the 3rd quarter. Xponance Inc. now owns 3,694 shares of the basic materials company’s stock valued at $348,000 after purchasing an additional 123 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of Cal-Maine Foods by 0.6% during the 4th quarter. Illinois Municipal Retirement Fund now owns 23,884 shares of the basic materials company’s stock valued at $1,900,000 after purchasing an additional 131 shares during the last quarter. Finally, MML Investors Services LLC increased its position in Cal-Maine Foods by 1.8% during the 4th quarter. MML Investors Services LLC now owns 7,428 shares of the basic materials company’s stock worth $591,000 after purchasing an additional 131 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.