Hsbc Holdings PLC Acquires New Position in CPB Inc. $CPF

Hsbc Holdings PLC acquired a new stake in shares of CPB Inc. (NYSE:CPF) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 101,330 shares of the financial services provider’s stock, valued at approximately $3,171,000. Hsbc Holdings PLC owned approximately 0.38% of CPB at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in shares of 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 buying an additional 1,245 shares in the last quarter. AQR Capital Management LLC boosted its stake in CPB by 1.6% in the first quarter. AQR Capital Management LLC now owns 169,809 shares of the financial services provider’s stock valued at $4,592,000 after buying an additional 2,731 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in CPB by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,849 shares of the financial services provider’s stock valued at $429,000 after buying an additional 670 shares in the last quarter. Millennium Management LLC grew its position in CPB by 433.6% in the first quarter. Millennium Management LLC now owns 293,335 shares of the financial services provider’s stock valued at $7,932,000 after acquiring an additional 238,367 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in CPB in the first quarter valued at about $248,000. 88.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CPF has been the subject of a number of research reports. Piper Sandler dropped 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. Weiss Ratings raised shares of CPB from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, June 18th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of CPB from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, CPB currently has an average rating of “Buy” and an average target price of $37.00.

CPB Trading Down 0.1%

CPF opened at $37.82 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.85. CPB Inc. has a fifty-two week low of $25.62 and a fifty-two week high of $38.02. The company’s 50 day moving average price is $34.99 and its two-hundred day moving average price is $33.27. The firm has a market capitalization of $987.02 million, a price-to-earnings ratio of 12.65 and a beta of 0.86.

CPB (NYSE:CPF) last released 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 firm had revenue of $72.93 million during the quarter, compared to the consensus estimate of $74.30 million. CPB had a net margin of 21.96% and a return on equity of 13.93%. As a group, research analysts predict that CPB Inc. will post 3.17 earnings per share for the current year.

CPB Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, May 29th. CPB’s dividend payout ratio (DPR) is currently 38.80%.

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.