Cal-Maine Foods (NASDAQ:CALM) Given New $85.00 Price Target at Stephens

Cal-Maine Foods (NASDAQ:CALM) had its target price reduced by Stephens from $90.00 to $85.00 in a report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the basic materials company’s stock.

Several other brokerages have also recently weighed in on CALM. Royal Bank Of Canada set a $100.00 target price on shares of Cal-Maine Foods in a report on Tuesday, May 26th. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a research report on Monday. Wells Fargo & Company set a $100.00 price objective on shares of Cal-Maine Foods in a research report on Monday. BMO Capital Markets lowered their target price on shares of Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating for the company in a research note on Wednesday, March 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cal-Maine Foods in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $94.29.

Cal-Maine Foods Trading Down 0.3%

Cal-Maine Foods stock opened at $83.14 on Tuesday. The firm has a market capitalization of $3.94 billion, a P/E ratio of 5.79 and a beta of 0.25. Cal-Maine Foods has a twelve month low of $71.92 and a twelve month high of $126.40. The stock’s fifty day simple moving average is $78.82 and its 200-day simple moving average is $80.08.

Hedge Funds Weigh In On Cal-Maine Foods

Large investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its stake in shares of Cal-Maine Foods by 3,014.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 623,571 shares of the basic materials company’s stock worth $49,618,000 after purchasing an additional 603,551 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Cal-Maine Foods in the 4th quarter valued at approximately $28,864,000. First Trust Advisors LP grew its holdings in Cal-Maine Foods by 29.7% during the 1st quarter. First Trust Advisors LP now owns 1,552,297 shares of the basic materials company’s stock valued at $122,864,000 after buying an additional 355,762 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Cal-Maine Foods by 13.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,519,483 shares of the basic materials company’s stock valued at $199,416,000 after buying an additional 300,910 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Cal-Maine Foods by 533.2% during the 4th quarter. Millennium Management LLC now owns 348,762 shares of the basic materials company’s stock valued at $27,751,000 after buying an additional 293,684 shares during the last quarter. Institutional investors and hedge funds 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.