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

Shares of CPB Inc. (NYSE:CPF) hit a new 52-week high during trading on Monday . The stock traded as high as $38.02 and last traded at $37.8150, with a volume of 473476 shares trading hands. The stock had previously closed at $37.85.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CPF. Weiss Ratings upgraded shares of CPB from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, June 18th. Keefe, Bruyette & Woods lifted their target price on shares of CPB from $36.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, April 9th. Finally, 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 research report on Thursday, April 2nd. One equities research 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 company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $37.00.

CPB Stock Performance

The firm’s fifty day moving average price is $35.13 and its 200-day moving average price is $33.36. The company has a market cap of $995.83 million, a P/E ratio of 12.76 and a beta of 0.86. 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 (NYSE:CPF) last released its earnings results on Wednesday, April 29th. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. CPB had a net margin of 21.96% and a return on equity of 13.93%. The business had revenue of $72.93 million during the quarter, compared to analysts’ expectations of $74.30 million. As a group, research analysts forecast that CPB Inc. will post 3.17 EPS for the current fiscal year.

CPB Dividend Announcement

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

Institutional Trading of CPB

Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP lifted its position in CPB by 3,169.6% in the third quarter. Quarry LP now owns 1,504 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 1,458 shares during the period. Royal Bank of Canada raised its stake in shares of CPB by 30.0% in the 4th quarter. Royal Bank of Canada now owns 1,630 shares of the financial services provider’s stock valued at $51,000 after buying an additional 376 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new position in shares of CPB in the 3rd quarter valued at $62,000. iSAM Funds UK Ltd bought a new position in shares of CPB during the 3rd quarter worth about $62,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of CPB by 35.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,635 shares of the financial services provider’s stock worth $84,000 after acquiring an additional 690 shares during the period. 88.42% of the stock is currently owned by institutional investors.

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.