An exact computation could be written but this will be rather tedious... moreover the final result will surely be ugly, involving discrete summations requiring the help of a computer to evaluate... and to be honest I feel lazy!
However, the use of brute force is easy :) Here is a piece of R code. The function f generates a particular value of $M/m$ :
f <- function()
{
x <- matrix(0, ncol=16,nrow=365)
for(i in 1:365)
x[ i, sample(1:16,11) ] <- 1;
a <- colSums(x);
return( max(a)/min(a) );
}
Then we compute 10000 such values :
> q <- numeric(10000)
> for(i in 1:length(q)) q[i] <- f()
Using length(unique(q)) we remark that only 559 values were taken. None of this values is Inf (which has a very low probability)...
Here are some quantiles :
> round(quantile(q, seq(0,1,0.1)),3)
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
1.049 1.100 1.110 1.119 1.127 1.135 1.143 1.152 1.163 1.179 1.316
And an histogram:
> hist(q, breaks=30, freq=FALSE)

Note that as suggested by cardinal you could be interested in $m/M$ as well:
> round(quantile(1/q, seq(0,1,0.1)),3)
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
0.760 0.848 0.860 0.868 0.875 0.881 0.887 0.894 0.901 0.909 0.953
> mean(q)
[1] 0.8796803
> sd(1/q)
[1] 0.02403925
> hist(1/q, breaks=30, freq=FALSE)

Edit I computed $10^5$ values. 842 different values are taken. The histograms look very similar. Here are the quantiles.
> round(quantile(q1, seq(0,1,by=0.05)),3)
0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%
1.041 1.091 1.100 1.105 1.111 1.115 1.120 1.123 1.128 1.131 1.136
55% 60% 65% 70% 75% 80% 85% 90% 95% 100%
1.140 1.143 1.148 1.153 1.158 1.164 1.171 1.180 1.195 1.322
> round(quantile(1/q1, seq(0,1,by=0.05)),3)
0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%
0.756 0.837 0.847 0.854 0.859 0.864 0.868 0.871 0.875 0.877 0.881
55% 60% 65% 70% 75% 80% 85% 90% 95% 100%
0.884 0.887 0.890 0.893 0.897 0.900 0.905 0.909 0.916 0.961
The distribution of $m/M$ is well approximated by a Beta distribution with parameters $\alpha = 57.9482$ and $\beta = 21.68629$. See on the following figure the empirical cdf of $m/M$ using $10^5$ simulated values, in black, and the cdf of this Beta distribution, in dotted red. Now I would be curious to see a theoretical approach to the question! (still too lazy and pessimistic to try)
