CPB (NYSE:CPF) Reaches New 12-Month High After Earnings Beat

Shares of CPB Inc. (NYSE:CPF) reached a new 52-week high on Wednesday following a stronger than expected earnings report. The company traded as high as $34.67 and last traded at $32.3450, with a volume of 70292 shares trading hands. The stock had previously closed at $31.69.

The financial services provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. CPB had a net margin of 18.66% and a return on equity of 13.28%. The company had revenue of $76.29 million for the quarter, compared to analysts’ expectations of $75.43 million.

Analysts Set New Price Targets

Several research firms have recently commented on CPF. Keefe, Bruyette & Woods initiated coverage on CPB in a report on Wednesday, October 8th. They set a “market perform” rating and a $34.00 target price for the company. Weiss Ratings restated 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 assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.50.

Institutional Trading of CPB

Several large investors have recently added to or reduced their stakes in the business. HoldCo Asset Management LP boosted its position in 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 worth $69,206,000 after acquiring an additional 1,183,399 shares during the period. Basswood Capital Management L.L.C. lifted its holdings 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 worth $24,828,000 after purchasing an additional 88,028 shares during the period. American Century Companies Inc. grew its position in 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 buying an additional 58,207 shares in the last quarter. Millennium Management LLC increased its stake in CPB by 433.6% during the 1st quarter. Millennium Management LLC now owns 293,335 shares of the financial services provider’s stock valued at $7,932,000 after buying an additional 238,367 shares during the period. Finally, Twin Lakes Capital Management LLC raised its position in shares of CPB by 0.3% during the 3rd quarter. Twin Lakes Capital Management LLC now owns 184,244 shares of the financial services provider’s stock worth $5,590,000 after buying an additional 513 shares in the last quarter. 88.42% of the stock is currently owned by institutional investors and hedge funds.

CPB Trading Up 2.1%

The business’s 50 day moving average price is $31.42 and its two-hundred day moving average price is $30.03. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $867.95 million, a price-to-earnings ratio of 13.26 and a beta of 0.95.

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.