Allianz Asset Management GmbH Sells 143,924 Shares of CPB Inc. $CPF

Allianz Asset Management GmbH cut its stake in shares of CPB Inc. (NYSE:CPF) by 33.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 291,002 shares of the financial services provider’s stock after selling 143,924 shares during the period. Allianz Asset Management GmbH owned approximately 1.08% of CPB worth $8,829,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in shares of CPB by 369.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,065 shares of the financial services provider’s stock worth $114,000 after buying an additional 3,199 shares during the period. Semanteon Capital Management LP acquired a new stake in shares of CPB in the 2nd quarter valued at approximately $231,000. Royal Bank of Canada boosted its stake in CPB by 15.8% during the 1st quarter. Royal Bank of Canada now owns 9,131 shares of the financial services provider’s stock worth $247,000 after acquiring an additional 1,245 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in CPB during the first quarter valued at approximately $248,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in CPB in the second quarter valued at approximately $277,000. Institutional investors and hedge funds own 88.42% of the company’s stock.

CPB Trading Down 0.3%

CPF opened at $34.42 on Tuesday. The stock has a market capitalization of $923.49 million, a P/E ratio of 12.03 and a beta of 0.96. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. CPB Inc. has a 12 month low of $23.16 and a 12 month high of $35.01. The firm’s fifty day simple moving average is $32.06 and its 200 day simple moving average is $30.34.

CPB (NYSE:CPF) last released its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.12. 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 13.64% and a net margin of 21.17%. As a group, research analysts anticipate that CPB Inc. will post 2.75 EPS for the current fiscal year.

CPB Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be paid a $0.29 dividend. This is an increase from CPB’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, February 27th. This represents a $1.16 annualized dividend and a yield of 3.4%. CPB’s dividend payout ratio (DPR) is 39.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CPF shares. Keefe, Bruyette & Woods lifted their price target on shares of CPB from $34.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, February 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of CPB in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

CPB 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.