CPB (NYSE:CPF) Reaches New 52-Week High – Here’s Why

CPB Inc. (NYSE:CPF)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $39.20 and last traded at $37.9140, with a volume of 113276 shares. The stock had previously closed at $38.28.

Wall Street Analyst Weigh In

Several research firms have recently commented on CPF. Weiss Ratings upgraded CPB from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, June 18th. Piper Sandler reduced 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, Keefe, Bruyette & Woods boosted their price target on shares of CPB from $36.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $37.00.

CPB Stock Down 0.6%

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 stock has a fifty day moving average price of $35.54 and a two-hundred day moving average price of $33.57. The company has a market cap of $998.53 million, a P/E ratio of 12.80 and a beta of 0.84.

CPB (NYSE:CPF) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.78 earnings per share (EPS) 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 business had revenue of $72.93 million during the quarter, compared to the consensus estimate of $74.30 million. On average, research analysts expect that CPB Inc. will post 3.17 EPS for the current year.

CPB Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP increased its stake in CPB by 3,169.6% in the 3rd quarter. Quarry LP now owns 1,504 shares of the financial services provider’s stock valued at $46,000 after buying an additional 1,458 shares during the last quarter. Royal Bank of Canada boosted 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 worth $51,000 after buying an additional 376 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of CPB during the third quarter valued at approximately $62,000. iSAM Funds UK Ltd bought a new stake in CPB during the third quarter worth $62,000. Finally, PNC Financial Services Group Inc. raised its stake 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 purchasing an additional 690 shares during the period. 88.42% of the stock is currently 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.