CPB (NYSE:CPF) Reaches New 1-Year High – Here’s What Happened

Shares of CPB Inc. (NYSE:CPF) reached a new 52-week high during trading on Monday . The company traded as high as $38.02 and last traded at $37.8150, with a volume of 473476 shares traded. The stock had previously closed at $37.85.

Analyst Ratings Changes

CPF has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of CPB from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, June 18th. Piper Sandler lowered 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. Finally, Keefe, Bruyette & Woods lifted their price objective 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. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $37.00.

CPB Stock Performance

The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $981.49 million, a PE ratio of 12.58 and a beta of 0.86. The firm has a 50 day moving average price of $34.99 and a 200-day moving average price of $33.27.

CPB (NYSE:CPF) last issued 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 net margin of 21.96% and a return on equity of 13.93%. The company had revenue of $72.93 million for the quarter, compared to the consensus estimate of $74.30 million. Research analysts expect that CPB Inc. will post 3.17 EPS for the current fiscal year.

CPB Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid 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 3.1%. CPB’s dividend payout ratio (DPR) is presently 38.80%.

Institutional Inflows and Outflows

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