Piper Sandler Has Lowered Expectations for CPB (NYSE:CPF) Stock Price

CPB (NYSE:CPF) had its target price dropped by research analysts at Piper Sandler from $39.00 to $37.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s target price would suggest a potential upside of 16.72% from the company’s previous close.

A number of other research analysts also recently commented on CPF. Keefe, Bruyette & Woods increased their target price on CPB from $34.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, February 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of CPB in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.50.

CPB Stock Down 1.8%

CPF stock opened at $31.70 on Thursday. The company has a market capitalization of $838.15 million, a P/E ratio of 11.11 and a beta of 0.88. The firm has a 50 day simple moving average of $32.41 and a 200-day simple moving average of $31.14. 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 has a twelve month low of $23.16 and a twelve month high of $35.01.

CPB (NYSE:CPF) last released its earnings results on Wednesday, January 28th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.12. The company had revenue of $76.29 million during the quarter, compared to the consensus estimate of $75.43 million. CPB had a net margin of 21.17% and a return on equity of 13.64%. On average, equities research analysts predict that CPB will post 2.75 earnings per share for the current fiscal year.

Institutional Trading of CPB

Institutional investors and hedge funds have recently made changes to their positions in the stock. HoldCo Asset Management LP grew its stake in CPB by 6.4% during the 4th quarter. HoldCo Asset Management LP now owns 2,427,576 shares of the financial services provider’s stock worth $75,643,000 after buying an additional 146,547 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of CPB by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 2,079,266 shares of the financial services provider’s stock valued at $64,790,000 after acquiring an additional 24,933 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of CPB by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,046,284 shares of the financial services provider’s stock worth $32,602,000 after acquiring an additional 12,206 shares during the last quarter. Basswood Capital Management L.L.C. increased its holdings in shares of CPB by 11.0% in the 2nd quarter. Basswood Capital Management L.L.C. now owns 885,753 shares of the financial services provider’s stock worth $24,828,000 after acquiring an additional 88,028 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of CPB by 7.8% in the 3rd quarter. American Century Companies Inc. now owns 803,750 shares of the financial services provider’s stock worth $24,386,000 after acquiring an additional 58,207 shares during the period. 88.42% of the stock is currently owned by institutional investors and hedge funds.

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.