CPB (NYSE:CPF) Reaches New 1-Year High – Still a Buy?

CPB Inc. (NYSE:CPF) reached a new 52-week high during trading on Tuesday . The company traded as high as $40.31 and last traded at $40.03, with a volume of 27672 shares. The stock had previously closed at $39.06.

Wall Street Analyst Weigh In

CPF has been the subject of several recent analyst reports. Benchmark initiated coverage on CPB in a research report on Thursday, July 9th. They issued a “buy” rating and a $44.00 price target for the company. Keefe, Bruyette & Woods increased their price objective on shares of CPB from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Weiss Ratings raised shares of CPB from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, June 18th. Finally, Piper Sandler reduced their price objective on shares of CPB from $39.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $39.33.

CPB Price Performance

The firm has a market capitalization of $1.04 billion, a P/E ratio of 12.77 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a 50-day moving average of $36.78 and a 200-day moving average of $34.23.

CPB (NYSE:CPF) last posted its earnings results on Friday, July 24th. The financial services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. CPB had a return on equity of 14.20% and a net margin of 22.52%.The business had revenue of $77.45 million during the quarter, compared to analyst estimates of $75.69 million. During the same quarter last year, the company earned $0.67 EPS. As a group, analysts predict that CPB Inc. will post 3.17 EPS for the current year.

CPB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.0%. This is a boost from CPB’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, August 31st. CPB’s payout ratio is 37.18%.

Hedge Funds Weigh In On CPB

A number of hedge funds have recently bought and sold shares of the business. HoldCo Asset Management LP lifted its stake in CPB by 6.4% during the 4th quarter. HoldCo Asset Management LP now owns 2,427,576 shares of the financial services provider’s stock valued at $75,643,000 after acquiring an additional 146,547 shares during the period. Vanguard Group Inc. boosted its holdings in shares of CPB by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 2,079,266 shares of the financial services provider’s stock valued at $64,790,000 after acquiring an additional 24,933 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of CPB by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,046,284 shares of the financial services provider’s stock worth $32,602,000 after acquiring an additional 12,206 shares during the period. Basswood Capital Management L.L.C. grew its stake in shares of CPB by 11.0% in the second quarter. Basswood Capital Management L.L.C. now owns 885,753 shares of the financial services provider’s stock worth $24,828,000 after acquiring an additional 88,028 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of CPB by 15.9% during the fourth quarter. JPMorgan Chase & Co. now owns 299,652 shares of the financial services provider’s stock valued at $9,337,000 after purchasing an additional 41,019 shares during the last quarter. Hedge funds and other institutional investors own 88.42% of the company’s stock.

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.