Alps Advisors Inc. Increases Stock Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Alps Advisors Inc. increased its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 12.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 97,959 shares of the basic materials company's stock after buying an additional 10,691 shares during the period. Alps Advisors Inc. owned about 0.20% of Cal-Maine Foods worth $8,904,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new stake in Cal-Maine Foods during the first quarter worth about $30,000. Blue Trust Inc. boosted its holdings in Cal-Maine Foods by 388.2% during the first quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock worth $56,000 after buying an additional 493 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Cal-Maine Foods during the first quarter worth about $77,000. Harbor Capital Advisors Inc. boosted its holdings in Cal-Maine Foods by 126.0% during the first quarter. Harbor Capital Advisors Inc. now owns 920 shares of the basic materials company's stock worth $84,000 after buying an additional 513 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Cal-Maine Foods in the fourth quarter valued at about $134,000. Hedge funds and other institutional investors own 84.67% of the company's stock.

Analyst Upgrades and Downgrades

CALM has been the topic of several recent research reports. BMO Capital Markets raised shares of Cal-Maine Foods to a "hold" rating in a report on Tuesday, May 6th. Wall Street Zen raised shares of Cal-Maine Foods from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 5th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $97.00 price target on shares of Cal-Maine Foods in a report on Wednesday, April 23rd.

Cal-Maine Foods Stock Up 1.5%

Shares of NASDAQ:CALM traded up $1.46 during trading on Monday, reaching $101.98. The stock had a trading volume of 443,189 shares, compared to its average volume of 955,402. The stock has a market cap of $5.00 billion, a P/E ratio of 5.04 and a beta of 0.17. Cal-Maine Foods, Inc. has a fifty-two week low of $62.69 and a fifty-two week high of $116.41. The business has a fifty day moving average price of $97.70 and a 200-day moving average price of $97.61.

Insider Activity

In other news, insider Adolphus B. Baker sold 1,287,616 shares of the company's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $90.60, for a total value of $116,658,009.60. Following the completion of the transaction, the insider directly owned 1,702,853 shares in the company, valued at approximately $154,278,481.80. This represents a 43.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.45% of the stock is owned by insiders.

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.