CPB (NYSE:CPF) Issues Earnings Results

CPB (NYSE:CPF) posted its earnings results on Wednesday. The financial services provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02, Zacks reports. CPB had a net margin of 21.17% and a return on equity of 13.64%.

CPB Price Performance

Shares of CPF stock traded down $0.54 on Wednesday, reaching $34.07. The company’s stock had a trading volume of 12,064 shares, compared to its average volume of 164,564. The stock’s fifty day simple moving average is $32.59 and its 200-day simple moving average is $31.62. CPB has a 1 year low of $25.23 and a 1 year high of $35.41. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $900.73 million, a price-to-earnings ratio of 11.92 and a beta of 0.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Invesco Ltd. boosted its stake in CPB by 122.4% during the fourth quarter. Invesco Ltd. now owns 185,893 shares of the financial services provider’s stock worth $5,792,000 after buying an additional 102,301 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in CPB during the fourth quarter worth $242,000. Empowered Funds LLC boosted its stake in CPB by 9.4% during the fourth quarter. Empowered Funds LLC now owns 119,889 shares of the financial services provider’s stock worth $3,736,000 after buying an additional 10,337 shares during the period. Numerai GP LLC purchased a new position in CPB during the fourth quarter worth $316,000. Finally, Millennium Management LLC boosted its stake in CPB by 59.8% during the fourth quarter. Millennium Management LLC now owns 153,529 shares of the financial services provider’s stock worth $4,784,000 after buying an additional 57,455 shares during the period. 88.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CPF has been the subject of a number of recent research reports. Keefe, Bruyette & Woods raised their target price on shares of CPB from $36.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, April 9th. Piper Sandler cut their target price on shares of CPB from $39.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.00.

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.