Harbour Capital Advisors LLC Invests $263,000 in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Harbour Capital Advisors LLC bought a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,825 shares of the basic materials company's stock, valued at approximately $263,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. acquired a new stake in Cal-Maine Foods during the first quarter worth $30,000. Blue Trust Inc. increased its stake 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 acquiring an additional 493 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Cal-Maine Foods during the first quarter worth $77,000. Harbor Capital Advisors Inc. increased its stake 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 acquiring an additional 513 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake 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 worth $105,000 after acquiring an additional 797 shares during the last quarter. Institutional investors and hedge funds own 84.67% of the company's stock.

Insider Activity at Cal-Maine Foods

In other news, insider Adolphus B. Baker sold 140,266 shares of the business's stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $90.60, for a total transaction of $12,708,099.60. Following the completion of the transaction, the insider now directly owns 1,319,034 shares of the company's stock, valued at approximately $119,504,480.40. The trade was a 9.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.45% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CALM has been the subject of several recent analyst reports. BMO Capital Markets raised Cal-Maine Foods to a "hold" rating in a research note on Tuesday, May 6th. Stephens restated an "equal weight" rating and set a $97.00 price target on shares of Cal-Maine Foods in a research report on Wednesday, April 23rd. Finally, Wall Street Zen lowered Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 1st.

Cal-Maine Foods Stock Performance

Shares of CALM traded up $0.58 during midday trading on Friday, hitting $99.16. 1,849,338 shares of the stock were exchanged, compared to its average volume of 751,557. Cal-Maine Foods, Inc. has a 52-week low of $61.19 and a 52-week high of $116.41. The stock has a fifty day simple moving average of $96.10 and a 200 day simple moving average of $97.89. The firm has a market cap of $4.86 billion, a P/E ratio of 4.90 and a beta of 0.17.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its quarterly earnings results 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. Cal-Maine Foods had a return on equity of 48.72% and a net margin of 26.08%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $953.76 million. During the same period last year, the business posted $3.00 earnings per share. The company's quarterly revenue was up 101.6% on a year-over-year basis. As a group, equities research analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

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.