Cal-Maine Foods (NASDAQ:CALM) Stock Plunges after Net Income Falls 39% in Second Quarter – CALM, IBA, SAFM, KO

Cal-Maine Foods Inc’s (NASDAQ:CALM) stock plunged over 10% on Monday after the company reported its profit plunged due to higher feed prices and outlays linked with a recent purchases.

The egg producer reported that net income tumbled 39% in its fiscal Q2 due to higher costs for corn and soybean meal, the key ingredients it uses to feed its chickens.

Shares of Jackson, Mississippi based Cal-Maine plunged $4.51 or 10.1% to settle at $39.95 in morning trading session.

Cal-Maine Foods made $14.3 million or 60 cents a share during the quarter finished Dec 1.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Industrias Bachoco, S.A.B. de C.V. (ADR) (NYSE:IBA) rose +1.68% to settle at $27.92, Sanderson Farms, Inc. (NASDAQ:SAFM) moved up +0.55% to end at $47.55 while The Coca-Cola Company (NYSE:KO) jumped +0.78% to finish at $36.25 on Monday.

Cal-Maine Foods Inc (NASDAQ:CALM) on Dec 31, 2012 decreased -9.54% to the closing price of $40.22. The overall volume in the last trading session was 461,852 shares. Its fifty two weeks range was $34.06 – $47.66. The total market capitalization remained at $962.11 million.

CALM is ahead of its 52-week low with 20.07% and lagging behind from its 52-week high price with -15.61%. CALM’s last month’s stock price volatility remained 2.87%. In its share capital CALM has 23.92 million outstanding shares, among them 13.87 million shares have been floated in market exchange. CALM’s stock’s institutional ownership remained 58.35% while insider ownership included 0.98%.

The stock price of CALM is moving down from its 20 days moving average with -10.59% and remote negatively from 50 days moving average with -8.61%. CALM’s current year’s earnings per share experienced an addition with 47.50 while its current quarter performance remained at -9.50%. Company’s beta coefficient included 0.47. Beta factors measure the amount of market risk associated with market trade.

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