CPB (NYSE:CPF) Reaches New 52-Week High – What’s Next?

CPB Inc. (NYSE:CPF)’s share price reached a new 52-week high on Thursday . The stock traded as high as $36.43 and last traded at $36.2420, with a volume of 105114 shares traded. The stock had previously closed at $35.60.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CPF. Weiss Ratings raised shares of CPB from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, June 5th. Piper Sandler reduced their price target on CPB from $39.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Finally, Keefe, Bruyette & Woods raised their price target on CPB from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.00.

CPB Trading Up 1.0%

The firm has a 50-day moving average of $34.33 and a 200-day moving average of $32.82. 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 firm has a market capitalization of $955.68 million, a P/E ratio of 12.25 and a beta of 0.86.

CPB (NYSE:CPF) last posted its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.04. CPB had a return on equity of 13.93% and a net margin of 21.96%.The business had revenue of $72.93 million for the quarter, compared to analyst estimates of $74.30 million. On average, equities research analysts anticipate that CPB Inc. will post 3.17 EPS for the current fiscal year.

CPB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, May 29th. CPB’s dividend payout ratio (DPR) is presently 38.80%.

Institutional Investors Weigh In On CPB

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE lifted its holdings in CPB by 27.9% in the 1st quarter. Bank of America Corp DE now owns 83,791 shares of the financial services provider’s stock worth $2,678,000 after buying an additional 18,269 shares during the period. Amundi purchased a new stake in CPB in the 1st quarter worth approximately $688,000. Empowered Funds LLC lifted its holdings in CPB by 8.5% in the 1st quarter. Empowered Funds LLC now owns 130,087 shares of the financial services provider’s stock worth $4,158,000 after buying an additional 10,198 shares during the period. Quantinno Capital Management LP lifted its holdings in CPB by 35.4% in the 1st quarter. Quantinno Capital Management LP now owns 52,726 shares of the financial services provider’s stock worth $1,685,000 after buying an additional 13,791 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in CPB by 22.5% in the 1st quarter. Lazard Asset Management LLC now owns 64,054 shares of the financial services provider’s stock worth $2,047,000 after buying an additional 11,759 shares during the period. Hedge funds and other institutional investors own 88.42% of the company’s stock.

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.