JPMorgan Chase & Co. Has $7.85 Million Holdings in CPB Inc. $CPF

JPMorgan Chase & Co. cut its position in shares of CPB Inc. (NYSE:CPF) by 12.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 258,633 shares of the financial services provider’s stock after selling 36,537 shares during the quarter. JPMorgan Chase & Co. owned 0.96% of CPB worth $7,847,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HoldCo Asset Management LP raised its holdings in shares of CPB by 107.8% during the third quarter. HoldCo Asset Management LP now owns 2,281,029 shares of the financial services provider’s stock valued at $69,206,000 after acquiring an additional 1,183,399 shares during the period. Millennium Management LLC boosted its stake in CPB by 433.6% in the 1st quarter. Millennium Management LLC now owns 293,335 shares of the financial services provider’s stock worth $7,932,000 after purchasing an additional 238,367 shares during the period. Qube Research & Technologies Ltd grew its position in CPB by 371.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 114,740 shares of the financial services provider’s stock worth $3,216,000 after purchasing an additional 90,385 shares in the last quarter. Basswood Capital Management L.L.C. grew its position in CPB by 11.0% during the 2nd 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 in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in CPB by 335.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 86,523 shares of the financial services provider’s stock valued at $2,426,000 after purchasing an additional 66,642 shares during the period. 88.42% of the stock is currently owned by institutional investors and hedge funds.

CPB Price Performance

NYSE CPF opened at $31.47 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $831.93 million, a price-to-earnings ratio of 11.00 and a beta of 0.95. The company has a 50 day simple moving average of $32.41 and a 200-day simple moving average of $31.13. CPB Inc. has a 52-week low of $23.16 and a 52-week high of $35.01.

CPB (NYSE:CPF) last announced its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 21.17% and a return on equity of 13.64%. Equities research analysts predict that CPB Inc. will post 2.75 earnings per share for the current fiscal year.

CPB Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, February 27th. This represents a $1.16 annualized dividend and a dividend yield of 3.7%. This is an increase from CPB’s previous quarterly dividend of $0.28. CPB’s dividend payout ratio is presently 40.56%.

Wall Street Analyst Weigh In

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

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.