CPB (NYSE:CPF) Sets New 1-Year High – What’s Next?

Shares of CPB Inc. (NYSE:CPF) reached a new 52-week high during trading on Tuesday . The stock traded as high as $37.02 and last traded at $37.02, with a volume of 68461 shares traded. The stock had previously closed at $36.28.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CPF. Weiss Ratings raised CPB from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday. Piper Sandler reduced their price target on CPB from $39.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Finally, Keefe, Bruyette & Woods lifted their price target on CPB from $36.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, CPB has an average rating of “Buy” and a consensus price target of $37.00.

CPB Stock Up 2.1%

The firm’s fifty day simple moving average is $34.70 and its 200-day simple moving average is $33.08. The company has a market cap of $966.48 million, a PE ratio of 12.38 and a beta of 0.86. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.13.

CPB (NYSE:CPF) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. CPB had a return on equity of 13.93% and a net margin of 21.96%.The company had revenue of $72.93 million during the quarter, compared to the consensus estimate of $74.30 million. As a group, equities research analysts expect that CPB Inc. will post 3.17 earnings per share for the current fiscal 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 $0.29 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 3.1%. CPB’s dividend payout ratio (DPR) is currently 38.80%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Quarry LP grew its position in 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 acquiring an additional 1,458 shares during the period. Royal Bank of Canada lifted 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 purchasing an additional 376 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of CPB during the 3rd quarter worth about $62,000. iSAM Funds UK Ltd purchased a new stake in shares of CPB during the 3rd quarter worth about $62,000. Finally, PNC Financial Services Group Inc. increased its position in 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 purchasing an additional 690 shares in the last quarter. 88.42% of the stock is owned by hedge funds and other 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.