Summit Global Investments Makes New Investment in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Summit Global Investments bought a new position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,835 shares of the basic materials company's stock, valued at approximately $712,000.

Other large investors have also bought and sold shares of the company. Smartleaf Asset Management LLC boosted its position in shares of Cal-Maine Foods by 339.1% in the fourth 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. Daiwa Securities Group Inc. purchased a new position in Cal-Maine Foods in the 4th quarter worth about $134,000. Mascagni Wealth Management Inc. bought a new position in Cal-Maine Foods during the 4th quarter worth about $144,000. KBC Group NV grew its holdings in Cal-Maine Foods by 59.8% during the 4th quarter. KBC Group NV now owns 1,681 shares of the basic materials company's stock worth $173,000 after acquiring an additional 629 shares in the last quarter. Finally, Colonial River Investments LLC bought a new stake in shares of Cal-Maine Foods in the 4th quarter valued at about $203,000. 84.67% of the stock is owned by hedge funds and other institutional investors.

Cal-Maine Foods Trading Up 0.3%

Shares of Cal-Maine Foods stock traded up $0.27 during trading hours on Thursday, hitting $95.67. 523,605 shares of the company were exchanged, compared to its average volume of 748,246. Cal-Maine Foods, Inc. has a 1 year low of $57.43 and a 1 year high of $116.41. The business has a 50-day moving average of $94.26 and a 200-day moving average of $97.79. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of 7.45 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 EPS for the quarter, beating analysts' consensus estimates of $5.79 by $4.59. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $953.76 million. During the same quarter last year, the company earned $3.00 earnings per share. The business's revenue for the quarter 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 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CALM shares. Stephens reissued 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. BMO Capital Markets raised shares of Cal-Maine Foods to a "hold" rating in a research report on Tuesday, May 6th. Finally, Wall Street Zen lowered shares of Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a research note on Sunday.

Insider Buying and Selling

In related news, insider Adolphus B. Baker sold 140,266 shares of the business'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 in the company, valued at $119,504,480.40. The trade was a 9.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.45% of the stock is currently owned by corporate insiders.

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.