Bank of America Corp DE Sells 137,524 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Bank of America Corp DE lessened its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 71.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,287 shares of the basic materials company's stock after selling 137,524 shares during the period. Bank of America Corp DE owned 0.11% of Cal-Maine Foods worth $5,587,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its holdings 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 valued at $105,000 after purchasing an additional 797 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Cal-Maine Foods during the fourth quarter valued at approximately $134,000. Nisa Investment Advisors LLC grew its holdings in Cal-Maine Foods by 350.5% during 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. KBC Group NV grew its holdings in 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. Finally, Colonial River Investments LLC acquired a new position in Cal-Maine Foods during the fourth quarter valued at approximately $203,000. Institutional investors and hedge funds own 84.67% of the company's stock.

Insiders Place Their Bets

In other Cal-Maine Foods news, insider Adolphus B. Baker sold 140,266 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 transaction of $12,708,099.60. Following the sale, the insider now owns 1,319,034 shares in the company, valued at $119,504,480.40. The trade was a 9.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 13.45% of the company's stock.

Cal-Maine Foods Price Performance

Shares of Cal-Maine Foods stock traded up $0.62 during midday trading on Thursday, hitting $94.07. The company had a trading volume of 554,995 shares, compared to its average volume of 750,619. The business's 50 day simple moving average is $93.84 and its two-hundred day simple moving average is $97.62. The stock has a market cap of $4.61 billion, a PE ratio of 7.32 and a beta of 0.18. Cal-Maine Foods, Inc. has a 1-year low of $57.43 and a 1-year high of $116.41.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $953.76 million. During the same quarter last year, the company posted $3.00 earnings per share. Cal-Maine Foods's quarterly revenue was up 101.6% on a year-over-year basis. On average, sell-side analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CALM shares. BMO Capital Markets upgraded Cal-Maine Foods to a "hold" rating in a report on Tuesday, May 6th. Stephens restated 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, Wall Street Zen upgraded shares of Cal-Maine Foods from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th.

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.