CPB (NYSE:CPF) Reaches New 1-Year High – Here’s What Happened

Shares of CPB Inc. (NYSE:CPF) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $40.33 and last traded at $39.98, with a volume of 13366 shares changing hands. The stock had previously closed at $39.40.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Benchmark initiated coverage on CPB in a report on Thursday, July 9th. They set a “buy” rating and a $44.00 target price on the stock. Keefe, Bruyette & Woods boosted their target price on CPB from $36.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, April 9th. Zacks Research upgraded CPB from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings raised shares of CPB from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $39.33.

CPB Price Performance

The company has a market cap of $1.04 billion, a price-to-earnings ratio of 12.80 and a beta of 0.85. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average price of $37.37 and a two-hundred day moving average price of $34.57.

CPB (NYSE:CPF) last issued its earnings results on Friday, July 24th. The financial services provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $77.45 million during the quarter, compared to analyst estimates of $75.69 million. CPB had a return on equity of 14.20% and a net margin of 22.52%.During the same period in the prior year, the company posted $0.67 earnings per share. As a group, equities research analysts anticipate that CPB Inc. will post 3.32 EPS for the current fiscal year.

CPB Increases Dividend

The firm 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 $0.30 dividend. This is a boost from CPB’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.20 annualized dividend and a yield of 3.0%. CPB’s payout ratio is presently 37.18%.

Institutional Trading of CPB

Institutional investors have recently made changes to their positions in the business. Quarry LP raised its position in CPB by 3,169.6% in 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 raised its holdings 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 buying an additional 376 shares in the last quarter. CIBC Private Wealth Group LLC bought a new position 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 worth approximately $62,000. Finally, PNC Financial Services Group Inc. boosted its stake in CPB by 35.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,635 shares of the financial services provider’s stock valued at $84,000 after buying an additional 690 shares in the last quarter. 88.42% of the stock is currently owned by institutional investors and hedge funds.

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.