QRG Capital Management Inc. Lowers Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

QRG Capital Management Inc. reduced its position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 46.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,208 shares of the basic materials company's stock after selling 10,769 shares during the quarter. QRG Capital Management Inc.'s holdings in Cal-Maine Foods were worth $1,110,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new position in shares of Cal-Maine Foods in the 1st quarter worth about $30,000. Future Financial Wealth Managment LLC purchased a new stake in Cal-Maine Foods during the 1st quarter valued at about $77,000. Harbor Capital Advisors Inc. boosted its holdings in Cal-Maine Foods by 126.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 920 shares of the basic materials company's stock valued at $84,000 after acquiring an additional 513 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Cal-Maine Foods by 339.1% during the 4th 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, Daiwa Securities Group Inc. purchased a new stake in Cal-Maine Foods during the 4th quarter valued at about $134,000. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CALM has been the subject of several analyst reports. Stephens restated an "equal weight" rating and set a $97.00 target price 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 report on Tuesday, May 6th. Finally, Wall Street Zen cut Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 1st.

Cal-Maine Foods Price Performance

CALM traded down $0.97 during midday trading on Friday, reaching $102.10. 1,419,690 shares of the company's stock traded hands, compared to its average volume of 748,907. The firm has a fifty day moving average of $95.50 and a two-hundred day moving average of $97.94. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 5.05 and a beta of 0.17. Cal-Maine Foods, Inc. has a 52 week low of $58.59 and a 52 week high of $116.41.

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, beating analysts' consensus estimates of $5.79 by $4.59. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $953.76 million. Cal-Maine Foods had a return on equity of 48.72% and a net margin of 26.08%. Cal-Maine Foods's quarterly revenue was up 101.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.00 EPS. Sell-side analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Insider Buying and Selling at Cal-Maine Foods

In other Cal-Maine Foods news, insider Adolphus B. Baker sold 140,266 shares of the company's stock in a transaction that occurred on 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 owns 1,319,034 shares of the company's stock, valued at $119,504,480.40. This represents a 9.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 13.45% of the stock is currently owned by corporate insiders.

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.