Canada Pension Plan Investment Board Sells 91,800 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Canada Pension Plan Investment Board decreased its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 74.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,800 shares of the basic materials company's stock after selling 91,800 shares during the quarter. Canada Pension Plan Investment Board owned 0.06% of Cal-Maine Foods worth $3,273,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CALM. Smartleaf Asset Management LLC lifted its position in Cal-Maine Foods by 339.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company's stock worth $105,000 after buying an additional 797 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in Cal-Maine Foods in the fourth quarter valued at approximately $134,000. GAMMA Investing LLC lifted its position 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 valued at $141,000 after purchasing an additional 267 shares during the last quarter. Nisa Investment Advisors LLC lifted its position 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 purchasing an additional 1,118 shares during the last quarter. Finally, KBC Group NV lifted its position in Cal-Maine Foods by 59.8% in 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. Hedge funds and other institutional investors own 84.67% of the company's stock.

Analyst Upgrades and Downgrades

CALM has been the subject of a number of recent analyst reports. StockNews.com upgraded Cal-Maine Foods from a "hold" rating to a "buy" rating in a report on Thursday. Stephens restated an "equal weight" rating and set a $97.00 price target on shares of Cal-Maine Foods in a report on Wednesday, April 23rd.

Insider Activity

In other Cal-Maine Foods news, insider Adolphus B. Baker sold 140,266 shares of the company'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 transaction of $12,708,099.60. Following the completion of the sale, the insider now directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.45% of the stock is owned by corporate insiders.

Cal-Maine Foods Stock Performance

Shares of CALM traded up $0.69 during mid-day trading on Monday, hitting $95.50. 982,499 shares of the company traded hands, compared to its average volume of 725,046. The stock has a 50-day moving average price of $90.76 and a two-hundred day moving average price of $97.01. Cal-Maine Foods, Inc. has a 1 year low of $55.15 and a 1 year high of $116.41. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 7.43 and a beta of 0.11.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its quarterly earnings data on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $953.76 million. During the same period in the previous year, the company earned $3.00 earnings per share. The firm's quarterly revenue was up 101.6% on a year-over-year basis. On average, analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Cal-Maine Foods 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.