CPB Inc. (NYSE:CPF) to Issue Quarterly Dividend of $0.29

CPB Inc. (NYSE:CPF) declared a quarterly dividend on Tuesday, January 27th. Shareholders of record on Friday, February 27th will be given a dividend of 0.29 per share by the financial services provider on Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, February 27th. This is a 3.6% increase from CPB’s previous quarterly dividend of $0.28.

CPB has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. CPB has a payout ratio of 35.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect CPB to earn $3.05 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 36.7%.

CPB Trading Up 0.6%

Shares of CPF traded up $0.21 on Wednesday, hitting $31.90. 157,904 shares of the stock traded hands, compared to its average volume of 135,307. The firm has a market capitalization of $855.74 million, a P/E ratio of 13.13 and a beta of 0.95. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.22. CPB has a 1 year low of $23.16 and a 1 year high of $34.67. The stock’s 50 day moving average is $31.42 and its two-hundred day moving average is $30.03.

CPB (NYSE:CPF) last released its earnings results on Wednesday, January 28th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. The firm had revenue of $76.29 million for the quarter, compared to the consensus estimate of $75.43 million. CPB had a return on equity of 13.28% and a net margin of 18.66%. As a group, sell-side analysts predict that CPB will post 2.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CPF shares. Keefe, Bruyette & Woods began coverage on CPB in a report on Wednesday, October 8th. They issued a “market perform” rating and a $34.00 price objective on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of CPB in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

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.