Sumitomo Mitsui Trust Group Inc. Invests $527,000 in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,800 shares of the basic materials company's stock, valued at approximately $527,000.

Other hedge funds have also recently bought and sold shares of the company. Financial Management Professionals Inc. acquired a new position in shares of Cal-Maine Foods in the 1st quarter worth $30,000. Blue Trust Inc. boosted its holdings in shares of Cal-Maine Foods by 388.2% in the first quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock worth $56,000 after buying an additional 493 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of Cal-Maine Foods in the first quarter worth approximately $77,000. Harbor Capital Advisors Inc. raised its holdings in shares of 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 valued at $84,000 after acquiring an additional 513 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position 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 acquiring an additional 797 shares in the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cal-Maine Foods

In related news, insider Adolphus B. Baker sold 1,287,616 shares of the firm's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $90.60, for a total transaction of $116,658,009.60. Following the transaction, the insider owned 1,702,853 shares of the company's stock, valued at approximately $154,278,481.80. This trade represents a 43.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 13.45% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on CALM. BMO Capital Markets upgraded shares of Cal-Maine Foods to a "hold" rating in a research report on Tuesday, May 6th. Stephens reiterated an "equal weight" rating and set a $97.00 price target on shares of Cal-Maine Foods in a report on Wednesday, April 23rd. Finally, Wall Street Zen raised Cal-Maine Foods from a "buy" rating to a "strong-buy" rating in a research note on Saturday.

Cal-Maine Foods Stock Down 1.7%

Shares of NASDAQ:CALM traded down $1.74 during trading on Monday, reaching $101.16. 739,879 shares of the company traded hands, compared to its average volume of 758,636. Cal-Maine Foods, Inc. has a 1-year low of $62.35 and a 1-year high of $116.41. The firm has a market cap of $4.96 billion, a P/E ratio of 5.00 and a beta of 0.17. The firm has a fifty day simple moving average of $96.99 and a 200 day simple moving average of $97.65.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued 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. Cal-Maine Foods had a return on equity of 48.72% and a net margin of 26.08%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $953.76 million. During the same quarter in the previous year, the company posted $3.00 earnings per share. The business's quarterly revenue was up 101.6% compared to the same quarter last year. As a group, research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Cal-Maine Foods Company 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.