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

QRG Capital Management Inc. lowered its position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 46.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Management Professionals Inc. purchased a new position in shares of Cal-Maine Foods during the first quarter valued at $30,000. Future Financial Wealth Managment LLC purchased a new position in Cal-Maine Foods during the 1st quarter valued at about $77,000. Harbor Capital Advisors Inc. increased its position 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 purchasing an additional 513 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of 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 valued at $105,000 after purchasing an additional 797 shares in the last quarter. Finally, NBC Securities Inc. raised its holdings in shares of Cal-Maine Foods by 139,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,400 shares of the basic materials company's stock valued at $127,000 after purchasing an additional 1,399 shares in the last quarter. 84.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Stephens reiterated an "equal weight" rating and set a $97.00 price objective on shares of Cal-Maine Foods in a research note on Wednesday, April 23rd. BMO Capital Markets raised Cal-Maine Foods to a "hold" rating in a research report on Tuesday, May 6th. Finally, Wall Street Zen downgraded Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 1st.

Cal-Maine Foods Trading Up 0.3%

Shares of NASDAQ:CALM traded up $0.31 during trading on Tuesday, reaching $101.86. The stock had a trading volume of 788,541 shares, compared to its average volume of 749,084. The firm's 50-day simple moving average is $95.56 and its 200 day simple moving average is $97.96. Cal-Maine Foods, Inc. has a one year low of $58.59 and a one year high of $116.41. The company has a market capitalization of $5.00 billion, a P/E ratio of 5.04 and a beta of 0.17.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its 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 company had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $953.76 million. Cal-Maine Foods had a net margin of 26.08% and a return on equity of 48.72%. Cal-Maine Foods's revenue for the quarter was up 101.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.00 earnings per share. Equities research analysts forecast that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Adolphus B. Baker sold 140,266 shares of the company's stock in a transaction dated 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 transaction, the insider now owns 1,319,034 shares in the company, 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 through this hyperlink. Company insiders own 13.45% of the company's stock.

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.