CPB (NYSE:CPF) Reaches New 52-Week High – Time to Buy?

CPB Inc. (NYSE:CPF) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $35.50 and last traded at $35.3080, with a volume of 37778 shares changing hands. The stock had previously closed at $34.78.

Analysts Set New Price Targets

CPF has been the subject of several analyst reports. 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. 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 report on Thursday, April 9th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of CPB in a report on Friday, May 22nd. 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 MarketBeat, CPB presently has an average rating of “Moderate Buy” and an average target price of $37.00.

CPB Price Performance

The company has a market cap of $917.91 million, a P/E ratio of 11.76 and a beta of 0.86. The company has a fifty day moving average price of $33.91 and a two-hundred day moving average price of $32.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 0.85.

CPB (NYSE:CPF) last announced 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. The company 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%. On average, sell-side analysts anticipate that CPB Inc. will post 3.17 earnings per share for the current fiscal year.

CPB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued 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 yield of 3.3%. CPB’s dividend payout ratio (DPR) is presently 38.80%.

Hedge Funds Weigh In On CPB

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hantz Financial Services Inc. grew its holdings in CPB by 535.4% during the third quarter. Hantz Financial Services Inc. now owns 915 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 771 shares during the period. Quarry LP grew its holdings in 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 during the period. Royal Bank of Canada grew its holdings in CPB by 30.0% during 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 period. CIBC Private Wealth Group LLC bought a new position in CPB during the third quarter worth about $62,000. Finally, iSAM Funds UK Ltd bought a new position in CPB during the third quarter worth about $62,000. 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.