Cal-Maine Foods (NASDAQ:CALM) Sees Unusually-High Trading Volume – What’s Next?

Cal-Maine Foods, Inc. (NASDAQ:CALM) saw strong trading volume on Wednesday . 1,028,657 shares changed hands during mid-day trading, a decline of 0% from the previous session’s volume of 1,028,880 shares.The stock last traded at $92.87 and had previously closed at $96.55.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. StockNews.com cut shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Thursday, April 10th. Stephens reaffirmed an “equal weight” rating and issued a $97.00 target price on shares of Cal-Maine Foods in a report on Thursday, March 6th.

Cal-Maine Foods Trading Down 4.4 %

The company has a market capitalization of $4.53 billion, a PE ratio of 7.18 and a beta of 0.11. The stock’s fifty day moving average is $92.45 and its two-hundred day moving average is $96.34.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Tuesday, April 8th. The basic materials company reported $10.38 EPS for the quarter, topping analysts’ consensus estimates of $5.79 by $4.59. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $953.76 million. During the same quarter in the previous year, the firm posted $3.00 EPS. Cal-Maine Foods’s revenue was up 101.6% on a year-over-year basis. As a group, analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Cal-Maine Foods

Large investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its position in Cal-Maine Foods by 12.0% during the first quarter. Assenagon Asset Management S.A. now owns 26,583 shares of the basic materials company’s stock worth $2,416,000 after purchasing an additional 2,855 shares during the period. Handelsbanken Fonder AB boosted its holdings in Cal-Maine Foods by 79.9% in the 1st quarter. Handelsbanken Fonder AB now owns 11,937 shares of the basic materials company’s stock worth $1,085,000 after buying an additional 5,300 shares during the period. GAMMA Investing LLC grew its stake in Cal-Maine Foods by 25.7% in the 1st quarter. GAMMA Investing LLC now owns 1,720 shares of the basic materials company’s stock valued at $156,000 after buying an additional 352 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Cal-Maine Foods by 126.0% during the first quarter. Harbor Capital Advisors Inc. now owns 920 shares of the basic materials company’s stock worth $84,000 after acquiring an additional 513 shares in the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new stake in shares of Cal-Maine Foods during the first quarter worth $209,000. Hedge funds and other institutional investors 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.