CPB (NYSE:CPF) Reaches New 12-Month High – What’s Next?

CPB Inc. (NYSE:CPF) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $39.70 and last traded at $39.5550, with a volume of 8493 shares. The stock had previously closed at $38.70.

Analyst Ratings Changes

A number of brokerages have recently commented on CPF. Weiss Ratings raised CPB from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, June 18th. Keefe, Bruyette & Woods upped their target price on CPB from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. Benchmark started coverage on CPB in a report on Thursday, July 9th. They set a “buy” rating and a $44.00 price target on the stock. Finally, Piper Sandler dropped their price target on shares of CPB from $39.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, CPB currently has an average rating of “Buy” and a consensus price target of $39.33.

CPB Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50-day simple moving average is $36.21 and its two-hundred day simple moving average is $33.90. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 13.04 and a beta of 0.84.

CPB (NYSE:CPF) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04. The company had revenue of $72.93 million for the quarter, compared to the consensus estimate of $74.30 million. CPB had a return on equity of 13.93% and a net margin of 21.96%. Analysts forecast that CPB Inc. will post 3.17 earnings per share for the current year.

CPB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, May 29th. CPB’s dividend payout ratio is currently 38.80%.

Hedge Funds Weigh In On CPB

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of CPB by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 2,079,266 shares of the financial services provider’s stock valued at $64,790,000 after buying an additional 24,933 shares during the period. Hsbc Holdings PLC acquired a new stake in CPB during the fourth quarter worth about $3,171,000. Y Intercept Hong Kong Ltd increased its stake in CPB by 102.7% during the first quarter. Y Intercept Hong Kong Ltd now owns 45,971 shares of the financial services provider’s stock valued at $1,469,000 after acquiring an additional 23,292 shares during the period. Principal Financial Group Inc. increased its stake in CPB by 27.1% during the first quarter. Principal Financial Group Inc. now owns 162,431 shares of the financial services provider’s stock valued at $5,191,000 after acquiring an additional 34,591 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new position in CPB in the 1st quarter valued at approximately $374,000. Institutional investors own 88.42% of the company’s stock.

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.