CPB (NYSE:CPF) Rating Increased to Strong-Buy at Benchmark

Benchmark upgraded shares of CPB (NYSE:CPF) to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Weiss Ratings upgraded CPB from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, June 18th. Piper Sandler decreased their price objective on CPB from $39.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Finally, Keefe, Bruyette & Woods raised 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. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $39.33.

CPB Trading Up 0.5%

Shares of CPF traded up $0.20 during trading hours on Wednesday, reaching $38.35. 96,747 shares of the company traded hands, compared to its average volume of 166,792. CPB has a 12 month low of $25.62 and a 12 month high of $39.20. 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’s fifty day moving average price is $35.76 and its two-hundred day moving average price is $33.67. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 12.83 and a beta of 0.84.

CPB (NYSE:CPF) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.78 earnings per share for the quarter, beating 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 analysts’ expectations of $74.30 million. Equities research analysts predict that CPB will post 3.17 earnings per share for the current fiscal year.

CPB Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, May 29th. CPB’s dividend payout ratio (DPR) is presently 38.80%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC boosted its holdings in CPB by 4.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,023 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 369 shares in the last quarter. Royal Bank of Canada raised its position in shares of CPB by 30.0% in the 4th 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. WINTON GROUP Ltd boosted its stake in CPB by 1.1% in the 4th quarter. WINTON GROUP Ltd now owns 44,388 shares of the financial services provider’s stock worth $1,383,000 after purchasing an additional 472 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in CPB by 3.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 14,398 shares of the financial services provider’s stock valued at $460,000 after purchasing an additional 523 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in CPB by 4.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,201 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 655 shares during the last quarter. 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.