CPB (NYSE:CPF) Earns Buy Rating from Analysts at Benchmark

Benchmark initiated coverage on shares of CPB (NYSE:CPF) in a research report issued on Thursday, Marketbeat reports. The firm set a “buy” rating on the financial services provider’s stock.

A number of other analysts have also recently commented on CPF. Weiss Ratings upgraded shares of CPB from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, June 18th. Piper Sandler lowered their target price on shares of CPB from $39.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of CPB from $36.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $37.00.

CPB Stock Performance

NYSE CPF traded up $0.24 during trading on Thursday, hitting $38.45. 14,651 shares of the company’s stock traded hands, compared to its average volume of 158,829. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 12.80 and a beta of 0.84. CPB has a 12-month low of $25.62 and a 12-month high of $39.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 0.85. The business has a 50 day moving average of $35.60 and a 200-day moving average of $33.60.

CPB (NYSE:CPF) last posted its 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. The firm had revenue of $72.93 million during the quarter, compared to the consensus estimate of $74.30 million. CPB had a net margin of 21.96% and a return on equity of 13.93%. As a group, equities research analysts anticipate that CPB will post 3.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada grew its position in shares of CPB by 15.8% during the 1st quarter. Royal Bank of Canada now owns 9,131 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 1,245 shares in the last quarter. AQR Capital Management LLC boosted its stake in CPB by 1.6% during the first quarter. AQR Capital Management LLC now owns 169,809 shares of the financial services provider’s stock valued at $4,592,000 after buying an additional 2,731 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in CPB by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,849 shares of the financial services provider’s stock valued at $429,000 after buying an additional 670 shares during the period. Millennium Management LLC grew its position in CPB by 433.6% during the first quarter. Millennium Management LLC now owns 293,335 shares of the financial services provider’s stock worth $7,932,000 after buying an additional 238,367 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in CPB during the first quarter worth about $248,000. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

About CPB

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.