Cal-Maine Foods (NASDAQ:CALM) Sets New 1-Year High – Here’s Why

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) reached a new 52-week high during trading on Monday . The company traded as high as $97.40 and last traded at $97.40, with a volume of 1660 shares trading hands. The stock had previously closed at $95.96.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. StockNews.com cut shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Saturday. Stephens began coverage on Cal-Maine Foods in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price objective for the company.

Cal-Maine Foods Price Performance

The firm has a market capitalization of $4.74 billion, a PE ratio of 11.07 and a beta of -0.12. The business’s 50 day moving average is $86.55 and its two-hundred day moving average is $72.47.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.30). The company had revenue of $785.87 million for the quarter, compared to analysts’ expectations of $704.65 million. Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The business’s quarterly revenue was up 71.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 EPS. Analysts expect that Cal-Maine Foods, Inc. will post 8.54 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. Two Sigma Advisers LP lifted its position in Cal-Maine Foods by 652.6% in the 3rd quarter. Two Sigma Advisers LP now owns 160,300 shares of the basic materials company’s stock worth $11,997,000 after buying an additional 139,000 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Cal-Maine Foods by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,616,011 shares of the basic materials company’s stock valued at $159,863,000 after buying an additional 114,995 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Cal-Maine Foods by 5.5% in the second quarter. Renaissance Technologies LLC now owns 2,115,624 shares of the basic materials company’s stock worth $129,286,000 after buying an additional 110,900 shares during the period. American Century Companies Inc. lifted its stake in shares of Cal-Maine Foods by 8.9% in the 2nd quarter. American Century Companies Inc. now owns 1,013,713 shares of the basic materials company’s stock valued at $61,948,000 after acquiring an additional 82,772 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Cal-Maine Foods in the 3rd quarter valued at about $58,810,000. 84.67% of the stock is currently owned by hedge funds and other 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.