CPB (NYSE:CPF) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

CPB (NYSE:CPF) posted its quarterly earnings results on Friday. The financial services provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02, FiscalAI reports. CPB had a net margin of 21.96% and a return on equity of 13.93%. The firm had revenue of $77.45 million for the quarter, compared to analysts’ expectations of $75.69 million. During the same quarter in the prior year, the company posted $0.67 earnings per share.

CPB Stock Performance

Shares of CPB stock traded up $0.51 during trading hours on Friday, reaching $39.19. 45,557 shares of the stock traded hands, compared to its average volume of 157,182. CPB has a one year low of $25.62 and a one year high of $40.06. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 13.11 and a beta of 0.84. 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 company has a 50 day moving average price of $36.58 and a 200 day moving average price of $34.12.

CPB Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, May 29th. CPB’s dividend payout ratio is 38.80%.

Wall Street Analysts Forecast Growth

Several analysts have commented on CPF shares. Piper Sandler cut their target price on CPB from $39.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Keefe, Bruyette & Woods increased their price objective on CPB from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Benchmark started coverage on CPB in a report on Thursday, July 9th. They issued a “buy” rating and a $44.00 price objective for the company. Finally, Weiss Ratings raised 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 assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $39.33.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Quarry LP grew its position in shares of CPB by 3,169.6% during the third quarter. Quarry LP now owns 1,504 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 1,458 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of CPB by 30.0% in the fourth quarter. Royal Bank of Canada now owns 1,630 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 376 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of CPB during the 3rd quarter worth approximately $62,000. iSAM Funds UK Ltd bought a new position in shares of CPB during the 3rd quarter valued at approximately $62,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of CPB by 369.4% in the second quarter. Tower Research Capital LLC TRC now owns 4,065 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 3,199 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.