CPB Inc. $CPF Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its position in shares of CPB Inc. (NYSE:CPF) by 71.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,941 shares of the financial services provider’s stock after selling 72,389 shares during the quarter. Hsbc Holdings PLC owned 0.11% of CPB worth $929,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CPF. Millennium Management LLC raised its holdings in 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 during the period. HoldCo Asset Management LP grew its holdings in CPB by 6.4% in the fourth quarter. HoldCo Asset Management LP now owns 2,427,576 shares of the financial services provider’s stock valued at $75,643,000 after purchasing an additional 146,547 shares during the period. Invesco Ltd. increased its position in shares of CPB by 122.4% in the fourth 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 in the last quarter. Qube Research & Technologies Ltd increased its position in shares of CPB by 371.1% in the second 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 in the last quarter. Finally, Basswood Capital Management L.L.C. raised its stake in shares of 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 buying an additional 88,028 shares during the period. 88.42% of the stock is currently owned by institutional investors and hedge funds.

CPB Stock Performance

Shares of NYSE:CPF opened at $39.44 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. CPB Inc. has a 1 year low of $25.62 and a 1 year high of $40.31. The firm has a market capitalization of $1.03 billion, a PE ratio of 12.64 and a beta of 0.84. The business’s 50 day moving average price is $36.98 and its 200-day moving average price is $34.34.

CPB (NYSE:CPF) last announced its quarterly earnings data on Friday, July 24th. The financial services provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. CPB had a return on equity of 14.20% and a net margin of 22.52%.The company had revenue of $77.45 million for the quarter, compared to analyst estimates of $75.69 million. During the same quarter last year, the firm posted $0.67 EPS. As a group, equities research analysts expect that CPB Inc. will post 3.36 earnings per share for the current fiscal year.

CPB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.20 annualized dividend and a yield of 3.0%. This is a boost from CPB’s previous quarterly dividend of $0.29. CPB’s dividend payout ratio is currently 37.18%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CPF. Weiss Ratings upgraded CPB from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, June 18th. Keefe, Bruyette & Woods boosted their price target on shares of CPB from $36.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, April 9th. Benchmark initiated coverage on shares of CPB in a research report on Thursday, July 9th. They set a “buy” rating and a $44.00 price objective for the company. Finally, Piper Sandler dropped their target price on shares of CPB from $39.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $39.33.

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.