CPB (NYSE:CPF) Hits New 1-Year High – Here’s Why

CPB Inc. (NYSE:CPF)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $36.43 and last traded at $36.2420, with a volume of 105114 shares. The stock had previously closed at $35.60.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Weiss Ratings raised shares of CPB from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, June 5th. Keefe, Bruyette & Woods increased their target price on shares of CPB from $36.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, April 9th. Finally, Piper Sandler reduced their target price on shares of CPB from $39.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, CPB presently has an average rating of “Moderate Buy” and an average target price of $37.00.

CPB Stock Up 1.8%

The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $945.92 million, a P/E ratio of 12.12 and a beta of 0.86. The company has a 50 day simple moving average of $34.16 and a two-hundred day simple moving average of $32.75.

CPB (NYSE:CPF) last posted its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. CPB had a return on equity of 13.93% and a net margin of 21.96%.The business had revenue of $72.93 million during the quarter, compared to the consensus estimate of $74.30 million. On average, equities analysts predict that CPB Inc. will post 3.17 EPS for the current fiscal year.

CPB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, May 29th. CPB’s dividend payout ratio is presently 38.80%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPF. Hantz Financial Services Inc. boosted its stake in CPB by 535.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 915 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 771 shares during the period. Quarry LP boosted its stake in CPB by 3,169.6% in the 3rd quarter. Quarry LP now owns 1,504 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 1,458 shares during the period. Royal Bank of Canada boosted its stake in CPB by 30.0% in the 4th quarter. Royal Bank of Canada now owns 1,630 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 376 shares during the period. CIBC Private Wealth Group LLC bought a new position in shares of CPB during the 3rd quarter valued at approximately $62,000. Finally, iSAM Funds UK Ltd bought a new position in shares of CPB during the 3rd quarter valued at approximately $62,000. 88.42% of the stock is currently owned by institutional investors.

CPB Company Profile

Charoen Pokphand Foods Public Company Limited (NYSE: CPF) is a Thailand‐based integrated agro‐industrial and food conglomerate. Headquartered in Bangkok, the company is a subsidiary of the Charoen Pokphand Group and has grown into one of the world’s leading producers of livestock feed, meat and seafood products. CPF’s businesses span animal feed milling, animal breeding and hatchery operations, meat and seafood processing, and the distribution of fresh, frozen and value‐added food products.

CPF’s product portfolio includes poultry, swine and aquaculture feed; fresh and frozen chicken and pork; shrimp and other seafood; as well as ready‐to‐eat and ready‐to‐cook food items.