Cal-Maine Foods (NASDAQ:CALM) Rating Lowered to Sell at Wall Street Zen

Cal-Maine Foods (NASDAQ:CALM) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other research firms have also commented on CALM. Wells Fargo & Company set a $100.00 price target on shares of Cal-Maine Foods in a research report on Monday, July 13th. BMO Capital Markets boosted their target price on shares of Cal-Maine Foods from $75.00 to $83.00 and gave the company a “market perform” rating in a research note on Thursday. Weiss Ratings cut shares of Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Stephens dropped their price target on shares of Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada set a $100.00 price target on shares of Cal-Maine Foods in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $94.71.

Cal-Maine Foods Stock Up 2.5%

Shares of NASDAQ:CALM opened at $90.32 on Friday. Cal-Maine Foods has a fifty-two week low of $71.92 and a fifty-two week high of $117.45. The firm has a 50-day simple moving average of $80.57 and a 200 day simple moving average of $80.49. The company has a market cap of $4.28 billion, a PE ratio of 13.79 and a beta of 0.25.

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

Institutional Investors Weigh In On Cal-Maine Foods

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in Cal-Maine Foods by 13.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,519,483 shares of the basic materials company’s stock worth $199,416,000 after purchasing an additional 300,910 shares during the period. State Street Corp increased its stake in Cal-Maine Foods by 6.8% during 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 buying an additional 108,578 shares during the period. First Trust Advisors LP increased its stake 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 period. Morgan Stanley lifted its stake in shares of Cal-Maine Foods by 9.4% in the 4th quarter. Morgan Stanley now owns 978,163 shares of the basic materials company’s stock worth $77,832,000 after acquiring an additional 84,124 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Cal-Maine Foods by 8.4% in the 3rd quarter. Northern Trust Corp now owns 900,466 shares of the basic materials company’s stock worth $84,734,000 after acquiring an additional 70,063 shares during the period. 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.