Short Interest in CPB Inc. (NYSE:CPF) Drops By 13.0%

CPB Inc. (NYSE:CPF) was the recipient of a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 372,802 shares, a decline of 13.0% from the January 15th total of 428,636 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 171,890 shares, the days-to-cover ratio is currently 2.2 days. Based on an average daily trading volume, of 171,890 shares, the days-to-cover ratio is currently 2.2 days. Approximately 1.4% of the shares of the company are short sold.

CPB Stock Performance

Shares of CPF opened at $34.15 on Thursday. CPB has a 52-week low of $23.16 and a 52-week high of $35.01. The stock’s 50-day simple moving average is $32.52 and its 200 day simple moving average is $30.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $916.14 million, a price-to-earnings ratio of 11.94 and a beta of 0.96.

CPB (NYSE:CPF) last announced its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.12. CPB had a return on equity of 13.64% and a net margin of 21.17%.The firm had revenue of $76.29 million for the quarter, compared to analysts’ expectations of $75.43 million. Research analysts forecast that CPB will post 2.75 EPS for the current fiscal year.

CPB Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be paid a $0.29 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.16 annualized dividend and a yield of 3.4%. This is a boost from CPB’s previous quarterly dividend of $0.28. CPB’s dividend payout ratio is currently 39.16%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CPF. Royal Bank of Canada raised its position in shares of CPB by 15.8% in the first quarter. Royal Bank of Canada now owns 9,131 shares of the financial services provider’s stock worth $247,000 after buying an additional 1,245 shares in the last quarter. AQR Capital Management LLC raised its position in CPB by 1.6% during the first quarter. AQR Capital Management LLC now owns 169,809 shares of the financial services provider’s stock valued at $4,592,000 after purchasing an additional 2,731 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in CPB by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,849 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 670 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of CPB by 433.6% in the 1st quarter. Millennium Management LLC now owns 293,335 shares of the financial services provider’s stock worth $7,932,000 after purchasing an additional 238,367 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of CPB in the 1st quarter worth about $248,000. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CPF. Keefe, Bruyette & Woods lifted their price objective on CPB from $34.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, February 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of CPB in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.50.

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.