Westbourne Investments Inc. Makes New Investment in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Westbourne Investments Inc. bought a new stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,200 shares of the basic materials company's stock, valued at approximately $638,000.

A number of other institutional investors have also added to or reduced their stakes in CALM. Northern Trust Corp increased its stake in Cal-Maine Foods by 60.2% in the fourth quarter. Northern Trust Corp now owns 674,335 shares of the basic materials company's stock valued at $69,403,000 after acquiring an additional 253,310 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Cal-Maine Foods by 88.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 340,155 shares of the basic materials company's stock valued at $25,457,000 after purchasing an additional 159,787 shares during the period. American Century Companies Inc. raised its holdings in shares of Cal-Maine Foods by 12.7% in the 4th quarter. American Century Companies Inc. now owns 1,266,621 shares of the basic materials company's stock worth $130,361,000 after buying an additional 143,189 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Cal-Maine Foods by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 4,905,606 shares of the basic materials company's stock worth $504,885,000 after buying an additional 118,162 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Cal-Maine Foods by 11.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 998,844 shares of the basic materials company's stock valued at $102,801,000 after buying an additional 104,512 shares in the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CALM has been the subject of several recent analyst reports. StockNews.com lowered Cal-Maine Foods from a "buy" rating to a "hold" rating in a research note on Friday. Stephens reissued an "equal weight" rating and set a $97.00 price target on shares of Cal-Maine Foods in a report on Wednesday, April 23rd. Finally, BMO Capital Markets began coverage on shares of Cal-Maine Foods in a research note on Monday. They set a "market perform" rating and a $100.00 price objective on the stock.

Insiders Place Their Bets

In other news, insider Adolphus B. Baker sold 140,266 shares of Cal-Maine Foods stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $90.60, for a total transaction of $12,708,099.60. Following the completion of the sale, the insider now owns 1,319,034 shares in the company, valued at $119,504,480.40. The trade was a 9.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 13.45% of the company's stock.

Cal-Maine Foods Stock Up 4.0 %

NASDAQ:CALM traded up $3.67 during mid-day trading on Tuesday, reaching $96.47. 495,939 shares of the company were exchanged, compared to its average volume of 730,500. Cal-Maine Foods, Inc. has a 12 month low of $56.40 and a 12 month high of $116.41. The stock has a market cap of $4.73 billion, a PE ratio of 7.51 and a beta of 0.18. The company has a fifty day moving average of $91.20 and a 200 day moving average of $97.04.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 8th. The basic materials company reported $10.38 EPS for the quarter, beating analysts' consensus estimates of $5.79 by $4.59. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $953.76 million. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The business's quarterly revenue was up 101.6% compared to the same quarter last year. During the same period last year, the company earned $3.00 EPS. On average, equities research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

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.