CPB (NYSE:CPF) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

CPB Inc. (NYSE:CPF) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $29.89 and traded as high as $32.30. CPB shares last traded at $31.7860, with a volume of 158,446 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CPF shares. Keefe, Bruyette & Woods began coverage on shares of CPB in a report on Wednesday, October 8th. They set a “market perform” rating and a $34.00 target price for the company. Weiss Ratings restated a “buy (b)” rating on shares of CPB in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.50.

CPB Trading Down 1.7%

The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $852.82 million, a PE ratio of 13.08 and a beta of 0.95. The company has a 50 day simple moving average of $31.05 and a 200 day simple moving average of $29.90.

CPB (NYSE:CPF) last released its earnings results on Wednesday, October 29th. The financial services provider reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.01). CPB had a return on equity of 13.28% and a net margin of 18.66%.The business had revenue of $74.81 million during the quarter, compared to analysts’ expectations of $74.60 million. Analysts anticipate that CPB Inc. will post 2.75 earnings per share for the current year.

CPB Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were issued a $0.28 dividend. This is a boost from CPB’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Friday, November 28th. CPB’s payout ratio is currently 46.09%.

Hedge Funds Weigh In On CPB

Several large investors have recently modified their holdings of CPF. HoldCo Asset Management LP increased its position in shares of CPB by 107.8% during the 3rd quarter. HoldCo Asset Management LP now owns 2,281,029 shares of the financial services provider’s stock worth $69,206,000 after purchasing an additional 1,183,399 shares during the last quarter. Basswood Capital Management L.L.C. lifted its stake in CPB by 11.0% during the 2nd 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 in the last quarter. American Century Companies Inc. lifted its stake in CPB by 7.8% during the 3rd quarter. American Century Companies Inc. now owns 803,750 shares of the financial services provider’s stock worth $24,386,000 after acquiring an additional 58,207 shares in the last quarter. Millennium Management LLC boosted its holdings in CPB by 433.6% during the 1st quarter. Millennium Management LLC now owns 293,335 shares of the financial services provider’s stock valued at $7,932,000 after acquiring an additional 238,367 shares during the period. Finally, Twin Lakes Capital Management LLC grew its position in CPB by 0.3% in the 3rd quarter. Twin Lakes Capital Management LLC now owns 184,244 shares of the financial services provider’s stock valued at $5,590,000 after acquiring an additional 513 shares in the last quarter. Institutional investors and hedge funds own 88.42% of the company’s stock.

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.