CPB (NYSE:CPF) Now Covered by Benchmark

Benchmark initiated coverage on shares of CPB (NYSE:CPF) in a research note released on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $44.00 price objective on the financial services provider’s stock.

A number of other research firms have also recently commented on CPF. Keefe, Bruyette & Woods raised their target price on shares of CPB from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, April 9th. Piper Sandler dropped their price target 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. Finally, Weiss Ratings raised shares of CPB from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $39.33.

CPB Trading Up 1.8%

Shares of CPF stock opened at $38.24 on Thursday. 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 company has a market cap of $998.04 million, a price-to-earnings ratio of 12.79 and a beta of 0.84. CPB has a 1 year low of $25.62 and a 1 year high of $39.20. The firm has a fifty day moving average price of $35.68 and a 200-day moving average price of $33.64.

CPB (NYSE:CPF) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The business had revenue of $72.93 million during the quarter, compared to analysts’ expectations of $74.30 million. CPB had a return on equity of 13.93% and a net margin of 21.96%. As a group, equities analysts predict that CPB will post 3.17 earnings per share for the current year.

CPB Announces Dividend

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. 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 is currently 38.80%.

Institutional Trading of CPB

A number of institutional investors and hedge funds have recently bought and sold shares of CPF. Quarry LP grew its position in shares of CPB by 3,169.6% during the third quarter. Quarry LP now owns 1,504 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 1,458 shares in the last quarter. Royal Bank of Canada boosted its stake in CPB by 30.0% during the fourth 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 during the last quarter. CIBC Private Wealth Group LLC bought a new position in CPB during the third quarter valued at approximately $62,000. iSAM Funds UK Ltd purchased a new position in CPB during the 3rd quarter valued at approximately $62,000. Finally, PNC Financial Services Group Inc. increased its stake in CPB by 35.5% in 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 last quarter. 88.42% of the stock is currently owned by institutional investors.

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.