Handelsbanken Fonder AB Purchases 5,300 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Handelsbanken Fonder AB raised its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 79.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,937 shares of the basic materials company's stock after acquiring an additional 5,300 shares during the period. Handelsbanken Fonder AB's holdings in Cal-Maine Foods were worth $1,085,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Financial Management Professionals Inc. bought a new position in Cal-Maine Foods in the 1st quarter valued at approximately $30,000. Future Financial Wealth Managment LLC bought a new position in Cal-Maine Foods during the first quarter valued at approximately $77,000. Harbor Capital Advisors Inc. boosted its holdings in Cal-Maine Foods by 126.0% in the first quarter. Harbor Capital Advisors Inc. now owns 920 shares of the basic materials company's stock worth $84,000 after purchasing an additional 513 shares during the last quarter. Smartleaf Asset Management LLC grew 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 purchasing an additional 797 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new stake in Cal-Maine Foods during the 4th quarter valued at $134,000. 84.67% of the stock is currently owned by institutional investors.

Cal-Maine Foods Trading Up 2.4%

NASDAQ CALM traded up $2.40 on Wednesday, hitting $103.01. 385,527 shares of the company traded hands, compared to its average volume of 755,961. The business's 50 day moving average price is $95.06 and its 200-day moving average price is $97.84. Cal-Maine Foods, Inc. has a 52-week low of $57.56 and a 52-week high of $116.41. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 5.10 and a beta of 0.17.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share for the quarter, beating analysts' consensus estimates of $5.79 by $4.59. The firm had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $953.76 million. Cal-Maine Foods had a return on equity of 48.72% and a net margin of 26.08%. The business's quarterly revenue was up 101.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.00 EPS. As a group, sell-side analysts predict that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Adolphus B. Baker sold 140,266 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider now owns 1,319,034 shares of the company's stock, valued at $119,504,480.40. This represents a 9.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 13.45% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Stephens reaffirmed an "equal weight" rating and issued a $97.00 price objective on shares of Cal-Maine Foods in a report on Wednesday, April 23rd. BMO Capital Markets upgraded Cal-Maine Foods to a "hold" rating in a research note on Tuesday, May 6th. Finally, Wall Street Zen downgraded shares of Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 1st.

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.