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

CPB Inc. (NYSE:CPF) shares hit a new 52-week high during trading on Thursday . The company traded as high as $39.70 and last traded at $39.5550, with a volume of 8493 shares changing hands. The stock had previously closed at $38.70.

Wall Street Analyst Weigh In

Several research firms have commented on CPF. Keefe, Bruyette & Woods increased their target price on CPB from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Weiss Ratings raised CPB from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, June 18th. Benchmark began coverage on shares of CPB in a research report on Thursday, July 9th. They set a “buy” rating and a $44.00 target price on the stock. Finally, Piper Sandler decreased their price target on shares of CPB from $39.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $39.33.

CPB Price Performance

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 business’s 50-day simple moving average is $36.02 and its two-hundred day simple moving average is $33.81. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 13.35 and a beta of 0.84.

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

CPB Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $0.29 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.16 annualized dividend and a yield of 2.9%. CPB’s payout ratio is presently 38.80%.

Institutional Trading of CPB

A number of large investors have recently bought and sold shares of the business. HoldCo Asset Management LP lifted its stake in shares of CPB by 6.4% in the 4th quarter. HoldCo Asset Management LP now owns 2,427,576 shares of the financial services provider’s stock valued at $75,643,000 after purchasing an additional 146,547 shares during the period. Vanguard Group Inc. increased its holdings in CPB by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 2,079,266 shares of the financial services provider’s stock worth $64,790,000 after purchasing an additional 24,933 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in CPB by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,046,284 shares of the financial services provider’s stock valued at $32,602,000 after buying an additional 12,206 shares during the period. Basswood Capital Management L.L.C. lifted its stake in CPB by 11.0% in the second quarter. Basswood Capital Management L.L.C. now owns 885,753 shares of the financial services provider’s stock valued at $24,828,000 after buying an additional 88,028 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of CPB by 15.9% during the 4th quarter. JPMorgan Chase & Co. now owns 299,652 shares of the financial services provider’s stock worth $9,337,000 after buying an additional 41,019 shares in the last quarter. 88.42% of the stock is currently owned by institutional investors and hedge funds.

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.