CPB (NYSE:CPF) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

CPB Inc. (NYSE:CPF) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $32.55 and traded as high as $35.04. CPB shares last traded at $34.8430, with a volume of 111,136 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently commented on CPF. Keefe, Bruyette & Woods raised their target price on CPB from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Weiss Ratings restated a “buy (b)” rating on shares of CPB in a research report on Friday, May 22nd. Finally, Piper Sandler lowered their target price on CPB from $39.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

CPB Stock Up 1.1%

The firm has a market capitalization of $917.95 million, a price-to-earnings ratio of 11.76 and a beta of 0.86. The stock has a fifty day moving average of $33.91 and a 200-day moving average of $32.57. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

CPB (NYSE:CPF) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $72.93 million during the quarter, compared to analysts’ expectations of $74.30 million. CPB had a return on equity of 13.93% and a net margin of 21.96%. As a group, sell-side analysts expect that CPB Inc. will post 3.17 EPS for the current year.

CPB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, May 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.3%. CPB’s payout ratio is currently 38.80%.

Institutional Trading of CPB

Institutional investors and hedge funds have recently modified their holdings of the company. American Century Companies Inc. increased its position in shares of CPB by 7.8% during the third quarter. American Century Companies Inc. now owns 803,750 shares of the financial services provider’s stock valued at $24,386,000 after purchasing an additional 58,207 shares during the period. HoldCo Asset Management LP grew its stake in shares of CPB by 107.8% in the 3rd quarter. HoldCo Asset Management LP now owns 2,281,029 shares of the financial services provider’s stock valued at $69,206,000 after purchasing an additional 1,183,399 shares during the period. Vanguard Group Inc. grew its stake in shares of CPB by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 2,079,266 shares of the financial services provider’s stock valued at $64,790,000 after purchasing an additional 24,933 shares during the period. Rafferty Asset Management LLC grew its stake in shares of CPB by 21.2% in the 3rd quarter. Rafferty Asset Management LLC now owns 28,862 shares of the financial services provider’s stock valued at $876,000 after purchasing an additional 5,044 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in shares of CPB by 14.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 105,243 shares of the financial services provider’s stock valued at $3,193,000 after purchasing an additional 13,109 shares during the period. 88.42% of the stock is currently owned by institutional investors.

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.