Cal-Maine Foods (NASDAQ:CALM) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Cal-Maine Foods (NASDAQ:CALM) had its target price lifted by analysts at BMO Capital Markets from $75.00 to $83.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ price target indicates a potential downside of 8.10% from the stock’s current price.

A number of other brokerages have also recently commented on CALM. Stephens lowered their price target on Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Cal-Maine Foods in a report on Wednesday, July 8th. Wells Fargo & Company set a $100.00 price objective on Cal-Maine Foods in a research note on Monday, July 13th. Royal Bank Of Canada set a $100.00 target price on Cal-Maine Foods in a report on Tuesday, May 26th. Finally, Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $94.71.

Cal-Maine Foods Trading Up 2.5%

NASDAQ CALM opened at $90.32 on Thursday. Cal-Maine Foods has a 12-month low of $71.92 and a 12-month high of $117.45. The company has a fifty day simple moving average of $80.57 and a two-hundred day simple moving average of $80.49. The stock has a market cap of $4.28 billion, a P/E ratio of 13.79 and a beta of 0.25.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.84). Cal-Maine Foods had a net margin of 10.88% and a return on equity of 11.79%. The company had revenue of $552.58 million for the quarter, compared to analysts’ expectations of $563.83 million. During the same period last year, the firm earned $7.04 earnings per share. Cal-Maine Foods’s quarterly revenue was down 49.9% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Pinnacle Holdings LLC acquired a new stake in shares of Cal-Maine Foods during the 4th quarter valued at about $30,000. WealthCollab LLC raised its holdings in Cal-Maine Foods by 105.2% in 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 period. IFP Advisors Inc raised its holdings in Cal-Maine Foods by 58.2% in 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 period. 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 worth $39,000 after purchasing an additional 155 shares in the last quarter. Finally, National Bank of Canada FI purchased a new position in Cal-Maine Foods during the third quarter worth approximately $42,000. Institutional investors and hedge funds 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.