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

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

A number of other hedge funds also recently bought and sold shares of CALM. Man Group plc increased its stake in shares of Cal-Maine Foods by 258.7% during the fourth quarter. Man Group plc now owns 582,711 shares of the basic materials company's stock worth $59,973,000 after buying an additional 420,247 shares during the period. Millennium Management LLC grew its holdings in Cal-Maine Foods by 515.1% during the 4th quarter. Millennium Management LLC now owns 477,477 shares of the basic materials company's stock worth $49,142,000 after acquiring an additional 399,848 shares in the last quarter. Northern Trust Corp increased its position in shares of Cal-Maine Foods by 60.2% in the 4th quarter. Northern Trust Corp now owns 674,335 shares of the basic materials company's stock valued at $69,403,000 after purchasing an additional 253,310 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Cal-Maine Foods by 11,328.9% in the 1st quarter. GAMMA Investing LLC now owns 156,348 shares of the basic materials company's stock valued at $14,212,000 after purchasing an additional 154,980 shares during the last quarter. Finally, 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 valued at $130,361,000 after purchasing an additional 143,189 shares in the last quarter. Institutional investors and hedge funds own 84.67% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on CALM. Wall Street Zen upgraded shares of Cal-Maine Foods from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. BMO Capital Markets raised Cal-Maine Foods to a "hold" rating in a report on Tuesday, May 6th. Finally, Stephens reiterated an "equal weight" rating and issued a $97.00 price objective on shares of Cal-Maine Foods in a report on Wednesday, April 23rd.

Insider Transactions at Cal-Maine Foods

In other Cal-Maine Foods news, insider Adolphus B. Baker sold 1,287,616 shares of Cal-Maine Foods 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 transaction, the insider directly owned 1,702,853 shares in the company, valued at approximately $154,278,481.80. The trade was a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 13.45% of the company's stock.

Cal-Maine Foods Trading Down 0.2%

Shares of Cal-Maine Foods stock traded down $0.22 on Friday, hitting $100.52. The stock had a trading volume of 701,496 shares, compared to its average volume of 762,006. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 4.97 and a beta of 0.17. Cal-Maine Foods, Inc. has a 52-week low of $62.69 and a 52-week high of $116.41. The company's 50 day moving average price is $97.54 and its 200 day moving average price is $97.70.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its earnings results on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.79 by $4.59. Cal-Maine Foods had a net margin of 26.08% and a return on equity of 48.72%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $953.76 million. During the same period last year, the firm posted $3.00 earnings per share. The company's revenue for the quarter was up 101.6% compared to the same quarter last year. Analysts predict 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.