Royal Bank of Canada Grows Stake in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Royal Bank of Canada boosted its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 199.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 134,692 shares of the basic materials company's stock after purchasing an additional 89,698 shares during the period. Royal Bank of Canada owned about 0.27% of Cal-Maine Foods worth $13,863,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its position in shares of 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 in the last quarter. Vest Financial LLC raised its position in shares of Cal-Maine Foods by 17.2% during the 4th quarter. Vest Financial LLC now owns 23,553 shares of the basic materials company's stock valued at $2,424,000 after buying an additional 3,449 shares in the last quarter. Asset Management One Co. Ltd. raised its position in Cal-Maine Foods by 1,061.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 32,924 shares of the basic materials company's stock valued at $3,330,000 after purchasing an additional 30,089 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Cal-Maine Foods by 339.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company's stock valued at $105,000 after acquiring an additional 797 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Cal-Maine Foods in the fourth quarter valued at $239,000. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Adolphus B. Baker sold 140,266 shares of Cal-Maine Foods stock in a transaction on Thursday, April 17th. The stock was 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 in the company, valued at approximately $119,504,480.40. This trade represents a 9.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 13.45% of the company's stock.

Cal-Maine Foods Price Performance

Shares of NASDAQ:CALM traded up $1.88 during trading on Friday, reaching $95.95. 860,813 shares of the company were exchanged, compared to its average volume of 747,931. The firm has a market capitalization of $4.71 billion, a PE ratio of 7.47 and a beta of 0.18. The business's fifty day simple moving average is $93.90 and its 200-day simple moving average is $97.70. Cal-Maine Foods, Inc. has a 12-month low of $57.43 and a 12-month high of $116.41.

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 EPS for the quarter, topping the consensus estimate of $5.79 by $4.59. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $3.00 EPS. On average, sell-side analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CALM has been the topic of several recent analyst reports. BMO Capital Markets raised shares of Cal-Maine Foods to a "hold" rating in a research note on Tuesday, May 6th. Wall Street Zen upgraded Cal-Maine Foods from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Finally, Stephens reiterated an "equal weight" rating and issued a $97.00 price target on shares of Cal-Maine Foods in a report on Wednesday, April 23rd.

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.