AQR Capital Management LLC Raises Stake in Cal-Maine Foods, Inc. (NASDAQ:CALM)

AQR Capital Management LLC raised its position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 8.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 72,813 shares of the basic materials company's stock after acquiring an additional 5,903 shares during the period. AQR Capital Management LLC owned approximately 0.15% of Cal-Maine Foods worth $7,494,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CALM. Savant Capital LLC boosted its position in shares of Cal-Maine Foods by 2.5% during the fourth quarter. Savant Capital LLC now owns 3,798 shares of the basic materials company's stock valued at $391,000 after buying an additional 92 shares during the last quarter. Evergreen Capital Management LLC boosted its position in shares of Cal-Maine Foods by 1.7% during the fourth quarter. Evergreen Capital Management LLC now owns 5,755 shares of the basic materials company's stock valued at $592,000 after buying an additional 97 shares during the last quarter. Two Sigma Securities LLC lifted its holdings in Cal-Maine Foods by 2.8% during the fourth quarter. Two Sigma Securities LLC now owns 3,894 shares of the basic materials company's stock worth $401,000 after acquiring an additional 106 shares during the period. Summit Investment Advisors Inc. lifted its holdings in Cal-Maine Foods by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,290 shares of the basic materials company's stock worth $442,000 after acquiring an additional 136 shares during the period. Finally, US Bancorp DE lifted its holdings in Cal-Maine Foods by 2.4% during the fourth quarter. US Bancorp DE now owns 6,710 shares of the basic materials company's stock worth $691,000 after acquiring an additional 156 shares during the period. Institutional investors and hedge funds own 84.67% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CALM. BMO Capital Markets upgraded Cal-Maine Foods to a "hold" rating in a report on Tuesday, May 6th. Stephens reiterated 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, StockNews.com upgraded Cal-Maine Foods from a "hold" rating to a "buy" rating in a research note on Saturday.

Cal-Maine Foods Price Performance

Shares of NASDAQ CALM traded up $2.24 during trading on Tuesday, reaching $94.91. 144,859 shares of the stock traded hands, compared to its average volume of 739,753. Cal-Maine Foods, Inc. has a 52-week low of $57.18 and a 52-week high of $116.41. The company has a 50-day moving average of $91.70 and a 200-day moving average of $97.18. The stock has a market capitalization of $4.65 billion, a P/E ratio of 7.39 and a beta of 0.18.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its quarterly earnings results 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. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The firm had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $953.76 million. During the same quarter in the prior year, the firm earned $3.00 EPS. The business's revenue for the quarter was up 101.6% compared to the same quarter last year. Analysts expect that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Adolphus B. Baker sold 140,266 shares of the stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $90.60, for a total transaction of $12,708,099.60. Following the sale, the insider now owns 1,319,034 shares of the company's stock, valued at approximately $119,504,480.40. This represents a 9.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 13.45% of the company's stock.

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.