Brevan Howard Capital Management LP Has $4.60 Million Stock Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Brevan Howard Capital Management LP lifted its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 234.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,645 shares of the basic materials company's stock after buying an additional 31,304 shares during the period. Brevan Howard Capital Management LP owned approximately 0.09% of Cal-Maine Foods worth $4,595,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in Cal-Maine Foods by 339.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company's stock worth $105,000 after purchasing an additional 797 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in Cal-Maine Foods during the fourth quarter worth about $134,000. GAMMA Investing LLC lifted its holdings in Cal-Maine Foods by 24.3% in the fourth quarter. GAMMA Investing LLC now owns 1,368 shares of the basic materials company's stock worth $141,000 after acquiring an additional 267 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Cal-Maine Foods by 350.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,437 shares of the basic materials company's stock valued at $148,000 after acquiring an additional 1,118 shares during the period. Finally, KBC Group NV grew its holdings in shares of Cal-Maine Foods by 59.8% during the fourth quarter. KBC Group NV now owns 1,681 shares of the basic materials company's stock valued at $173,000 after purchasing an additional 629 shares during the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. BMO Capital Markets upgraded Cal-Maine Foods to a "hold" rating in a research report on Tuesday, May 6th. Stephens reaffirmed an "equal weight" rating and issued a $97.00 price objective on shares of Cal-Maine Foods in a research note on Wednesday, April 23rd. Finally, StockNews.com upgraded Cal-Maine Foods from a "hold" rating to a "buy" rating in a report on Saturday.

Cal-Maine Foods Price Performance

Shares of CALM stock traded up $0.53 during trading on Friday, reaching $91.26. The company had a trading volume of 574,662 shares, compared to its average volume of 741,659. The company has a market capitalization of $4.48 billion, a PE ratio of 7.10 and a beta of 0.18. Cal-Maine Foods, Inc. has a one year low of $57.18 and a one year high of $116.41. The firm's 50 day simple moving average is $91.53 and its two-hundred day simple moving average is $97.10.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its earnings results on Tuesday, April 8th. The basic materials company reported $10.38 EPS for the quarter, topping the consensus estimate of $5.79 by $4.59. The firm had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $953.76 million. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. Cal-Maine Foods's quarterly revenue was up 101.6% compared to the same quarter last year. During the same period last year, the business earned $3.00 earnings per share. Analysts forecast that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Insider Activity

In other Cal-Maine Foods news, insider Adolphus B. Baker sold 140,266 shares of the firm's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $90.60, for a total value of $12,708,099.60. Following the transaction, the insider now directly owns 1,319,034 shares of the company's stock, valued at approximately $119,504,480.40. This trade represents a 9.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.45% of the stock is currently owned by corporate insiders.

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.