Consumer Edge Research lifts Cal-Maine Foods Inc. [CALM] price estimate. Who else is bullish?

Cal-Maine Foods Inc. [NASDAQ: CALM] price plunged by -14.50 percent to reach at -$9.02. The company report on December 28, 2022 that Cal-Maine Foods Reports Record Results for Second Quarter Fiscal 2023.

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Announces Quarterly Cash Dividend of $1.35 Per Share.

Cal-Maine Foods, Inc. (NASDAQ: CALM) (“Cal-Maine Foods”, or the “Company”), the largest producer and distributor of fresh shell eggs in the United States, today reported results for the second quarter of fiscal 2023 (thirteen weeks) ended November 28, 2022.

A sum of 6081269 shares traded at recent session while its average daily volume was at 926.90K shares. Cal-Maine Foods Inc. shares reached a high of $59.9899 and dropped to a low of $52.28 until finishing in the latest session at $53.17.

The one-year CALM stock forecast points to a potential upside of 12.36. The average equity rating for CALM stock is currently 2.70, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Cal-Maine Foods Inc. [CALM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CALM shares is $60.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CALM stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Consumer Edge Research have made an estimate for Cal-Maine Foods Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on March 30, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $47 to $38. The new note on the price target was released on May 26, 2021, representing the official price target for Cal-Maine Foods Inc. stock. Previously, the target price had yet another raise to $47, while BofA Securities analysts kept a Buy rating on CALM stock.

The Average True Range (ATR) for Cal-Maine Foods Inc. is set at 2.43, with the Price to Sales ratio for CALM stock in the period of the last 12 months amounting to 1.09. The Price to Book ratio for the last quarter was 2.18, with the Price to Cash per share for the same quarter was set at 6.54.

CALM Stock Performance Analysis:

Cal-Maine Foods Inc. [CALM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.04. With this latest performance, CALM shares dropped by -7.55% in over the last four-week period, additionally plugging by 7.61% over the last 6 months – not to mention a rise of 46.68% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CALM stock in for the last two-week period is set at 34.00, with the RSI for the last a single of trading hit 27.12, and the three-weeks RSI is set at 38.57 for Cal-Maine Foods Inc. [CALM]. The present Moving Average for the last 50 days of trading for this stock 58.13, while it was recorded at 61.37 for the last single week of trading, and 54.22 for the last 200 days.

Insight into Cal-Maine Foods Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Cal-Maine Foods Inc. [CALM] shares currently have an operating margin of +7.91 and a Gross Margin at +19.09. Cal-Maine Foods Inc.’s Net Margin is presently recorded at +7.46.

Return on Equity for this stock inclined to 12.53, with Return on Assets sitting at 9.90.

Cal-Maine Foods Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 3.40.

Cal-Maine Foods Inc. [CALM] Insider Position Details

There are presently around $2,163 million, or 96.80% of CALM stock, in the hands of institutional investors. The top three institutional holders of CALM stocks are: BLACKROCK INC. with ownership of 6,196,771, which is approximately -2.389% of the company’s market cap and around 10.89% of the total institutional ownership; VANGUARD GROUP INC, holding 4,992,618 shares of the stock with an approximate value of $265.46 million in CALM stocks shares; and STATE STREET CORP, currently with $94.33 million in CALM stock with ownership of nearly -8.423% of the company’s market capitalization.

Positions in Cal-Maine Foods Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 171 institutional holders increased their position in Cal-Maine Foods Inc. [NASDAQ:CALM] by around 10,715,981 shares. Additionally, 117 investors decreased positions by around 9,339,787 shares, while 27 investors held positions by with 20,618,179 shares. The mentioned changes placed institutional holdings at 40,673,947 shares, according to the latest SEC report filing. CALM stock had 66 new institutional investments in for a total of 3,639,862 shares, while 32 institutional investors sold positions of 2,050,807 shares during the same period.


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