CPB (NYSE:CPF) Reaches New 52-Week High – Still a Buy?

CPB Inc. (NYSE:CPF)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $37.02 and last traded at $37.02, with a volume of 68461 shares. The stock had previously closed at $36.28.

Wall Street Analyst Weigh In

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

CPB Price Performance

The firm has a market capitalization of $968.49 million, a P/E ratio of 12.59 and a beta of 0.86. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $34.84 and its 200-day moving average is $33.17.

CPB (NYSE:CPF) last released 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 analysts’ expectations of $74.30 million. CPB had a return on equity of 13.93% and a net margin of 21.96%. As a group, sell-side analysts predict that CPB Inc. will post 3.17 EPS for the current fiscal year.

CPB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, May 29th. CPB’s dividend payout ratio is currently 38.80%.

Institutional Trading of CPB

Several large investors have recently bought and sold shares of the business. American Century Companies Inc. boosted its stake in shares of CPB by 7.8% in the 3rd quarter. American Century Companies Inc. now owns 803,750 shares of the financial services provider’s stock valued at $24,386,000 after purchasing an additional 58,207 shares in the last quarter. HoldCo Asset Management LP grew its holdings in shares of CPB by 107.8% during the 3rd quarter. HoldCo Asset Management LP now owns 2,281,029 shares of the financial services provider’s stock valued at $69,206,000 after purchasing an additional 1,183,399 shares during the last quarter. Vanguard Group Inc. increased its position in CPB by 1.2% during the 4th 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. Fifth Third Bancorp increased its position in CPB by 1,888.6% during the 1st quarter. Fifth Third Bancorp now owns 5,906 shares of the financial services provider’s stock worth $189,000 after purchasing an additional 5,609 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in CPB by 3.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 247,848 shares of the financial services provider’s stock valued at $7,921,000 after purchasing an additional 7,967 shares during the last quarter. 88.42% of the stock is owned by institutional investors and hedge funds.

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.