CPB (NYSE:CPF) Price Target Raised to $36.00

CPB (NYSE:CPF) had its price objective hoisted by Keefe, Bruyette & Woods from $34.00 to $36.00 in a research note published on Monday,Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of CPB in a 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $35.50.

CPB Price Performance

CPB stock opened at $33.85 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $908.20 million, a P/E ratio of 11.84 and a beta of 0.96. The business has a 50-day moving average of $31.80 and a 200-day moving average of $30.20. CPB has a 1 year low of $23.16 and a 1 year high of $34.67.

CPB (NYSE:CPF) last released its quarterly earnings data 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. CPB had a net margin of 21.17% and a return on equity of 13.64%. The business had revenue of $76.29 million for the quarter, compared to analyst estimates of $75.43 million. On average, equities analysts anticipate that CPB will post 2.75 EPS for the current year.

CPB Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.4%. This is a positive change from CPB’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, February 27th. CPB’s dividend payout ratio is presently 39.16%.

Institutional Investors Weigh In On CPB

Hedge funds and other institutional investors have recently bought and sold shares of the company. HoldCo Asset Management LP boosted its position in CPB by 107.8% during the 3rd quarter. HoldCo Asset Management LP now owns 2,281,029 shares of the financial services provider’s stock worth $69,206,000 after acquiring an additional 1,183,399 shares during the last quarter. Millennium Management LLC lifted its position in shares of CPB by 433.6% in the first quarter. Millennium Management LLC now owns 293,335 shares of the financial services provider’s stock worth $7,932,000 after purchasing an additional 238,367 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of CPB by 371.1% in the second quarter. Qube Research & Technologies Ltd now owns 114,740 shares of the financial services provider’s stock worth $3,216,000 after purchasing an additional 90,385 shares in the last quarter. Basswood Capital Management L.L.C. boosted its holdings in CPB by 11.0% during the second quarter. Basswood Capital Management L.L.C. now owns 885,753 shares of the financial services provider’s stock worth $24,828,000 after purchasing an additional 88,028 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in CPB by 335.2% in the second quarter. Thrivent Financial for Lutherans now owns 86,523 shares of the financial services provider’s stock valued at $2,426,000 after purchasing an additional 66,642 shares in the last quarter. Institutional investors and hedge funds own 88.42% of the company’s stock.

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.