CPB Inc. $CPF Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its stake in shares of CPB Inc. (NYSE:CPF) by 71.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,941 shares of the financial services provider’s stock after selling 72,389 shares during the period. Hsbc Holdings PLC’s holdings in CPB were worth $929,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of CPF. Millennium Management LLC increased its position in CPB by 433.6% during the first 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 during the last quarter. HoldCo Asset Management LP increased its holdings in shares of 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 worth $75,643,000 after buying an additional 146,547 shares during the last quarter. Invesco Ltd. raised its position in shares of CPB by 122.4% during the 4th quarter. Invesco Ltd. now owns 185,893 shares of the financial services provider’s stock valued at $5,792,000 after buying an additional 102,301 shares during the period. Qube Research & Technologies Ltd raised its position in shares of CPB by 371.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 114,740 shares of the financial services provider’s stock valued at $3,216,000 after buying an additional 90,385 shares during the period. Finally, Basswood Capital Management L.L.C. lifted its holdings in 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 valued at $24,828,000 after acquiring an additional 88,028 shares during the last quarter. Hedge funds and other institutional investors own 88.42% of the company’s stock.

CPB Trading Down 0.7%

Shares of CPF stock opened at $39.44 on Thursday. CPB Inc. has a fifty-two week low of $25.62 and a fifty-two week high of $40.31. The company has a 50 day moving average price of $36.98 and a 200 day moving average price of $34.34. The stock has a market capitalization of $1.03 billion, a P/E ratio of 12.64 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.

CPB (NYSE:CPF) last issued its quarterly earnings results on Friday, July 24th. The financial services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $77.45 million during the quarter, compared to analysts’ expectations of $75.69 million. CPB had a net margin of 22.52% and a return on equity of 14.20%. During the same quarter last year, the company posted $0.67 EPS. Equities research analysts predict that CPB Inc. will post 3.36 EPS for the current fiscal year.

CPB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.30 per share. This is a positive change from CPB’s previous quarterly dividend of $0.29. The ex-dividend date is Monday, August 31st. This represents a $1.20 annualized dividend and a yield of 3.0%. CPB’s dividend payout ratio (DPR) is currently 37.18%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods lifted their target price on CPB from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. 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 report on Thursday, April 2nd. Benchmark began coverage on shares of CPB in a report on Thursday, July 9th. They issued a “buy” rating and a $44.00 target price for the company. Finally, Weiss Ratings upgraded CPB from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $39.33.

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.