Globeflex Capital L P Takes $900,000 Position in CPB Inc. $CPF

Globeflex Capital L P acquired a new stake in CPB Inc. (NYSE:CPF) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,571 shares of the financial services provider’s stock, valued at approximately $900,000.

A number of other hedge funds have also made changes to their positions in CPF. Bank of New York Mellon Corp acquired a new position in CPB during the 2nd quarter worth $11,926,000. Millennium Management LLC raised its position in shares of CPB by 433.6% during the 1st quarter. Millennium Management LLC now owns 293,335 shares of the financial services provider’s stock worth $7,932,000 after purchasing an additional 238,367 shares during the period. HoldCo Asset Management LP increased its position in CPB by 6.4% in the fourth quarter. HoldCo Asset Management LP now owns 2,427,576 shares of the financial services provider’s stock worth $75,643,000 after buying an additional 146,547 shares during the period. Invesco Ltd. boosted its holdings in shares of CPB by 122.4% during the fourth quarter. Invesco Ltd. now owns 185,893 shares of the financial services provider’s stock valued at $5,792,000 after acquiring an additional 102,301 shares during the period. Finally, Hsbc Holdings PLC bought a new position in shares of CPB during the fourth quarter worth about $3,171,000. Institutional investors and hedge funds own 88.42% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CPF. Benchmark initiated coverage on shares of CPB in a report on Thursday, July 9th. They issued a “buy” rating and a $44.00 price objective on the stock. Weiss Ratings upgraded shares of CPB from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, June 18th. Finally, Zacks Research upgraded shares of CPB from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, CPB currently has an average rating of “Buy” and an average price target of $39.33.

CPB Price Performance

Shares of CPF opened at $37.82 on Tuesday. The firm has a market capitalization of $973.78 million, a price-to-earnings ratio of 12.12 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. CPB Inc. has a one year low of $27.38 and a one year high of $40.99. The stock’s fifty day moving average is $38.27 and its 200-day moving average is $35.18.

CPB (NYSE:CPF) last posted its quarterly earnings data on Friday, July 24th. The financial services provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. The business had revenue of $77.45 million during the quarter, compared to the consensus estimate of $75.69 million. CPB had a net margin of 22.52% and a return on equity of 14.20%. During the same quarter in the prior year, the company posted $0.67 earnings per share. Equities analysts anticipate that CPB Inc. will post 3.32 EPS for the current year.

CPB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.2%. This is a boost from CPB’s previous quarterly dividend of $0.29. The ex-dividend date is Monday, August 31st. CPB’s payout ratio is 38.46%.

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.