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

CPB Inc. (NYSE:CPF)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $37.02 and last traded at $37.02, with a volume of 68461 shares. The stock had previously closed at $36.28.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CPF shares. Piper Sandler lowered their target price on shares of 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 boosted their price target on shares of CPB from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Finally, Weiss Ratings upgraded shares of CPB from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $37.00.

CPB Price Performance

The firm has a market capitalization of $966.48 million, a price-to-earnings ratio of 12.38 and a beta of 0.86. The company has a fifty day moving average price of $34.70 and a two-hundred day moving average price of $33.08. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.13.

CPB (NYSE:CPF) last announced its earnings results on Wednesday, April 29th. The financial services provider reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. CPB had a net margin of 21.96% and a return on equity of 13.93%. The business had revenue of $72.93 million for the quarter, compared to analysts’ expectations of $74.30 million. On average, equities research analysts expect that CPB Inc. will post 3.17 EPS for the current fiscal year.

CPB Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a $0.29 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 3.1%. CPB’s payout ratio is currently 38.80%.

Institutional Investors Weigh In On CPB

Several hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its position in CPB by 27.9% in the 1st quarter. Bank of America Corp DE now owns 83,791 shares of the financial services provider’s stock valued at $2,678,000 after acquiring an additional 18,269 shares during the period. Amundi purchased a new position in shares of CPB in the 1st quarter valued at approximately $688,000. Empowered Funds LLC increased its holdings in shares of CPB by 8.5% in the first quarter. Empowered Funds LLC now owns 130,087 shares of the financial services provider’s stock valued at $4,158,000 after purchasing an additional 10,198 shares during the period. Quantinno Capital Management LP increased its holdings in shares of CPB by 35.4% in the first quarter. Quantinno Capital Management LP now owns 52,726 shares of the financial services provider’s stock valued at $1,685,000 after purchasing an additional 13,791 shares during the period. Finally, Lazard Asset Management LLC raised its stake in shares of CPB by 22.5% during the first quarter. Lazard Asset Management LLC now owns 64,054 shares of the financial services provider’s stock worth $2,047,000 after purchasing an additional 11,759 shares during 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.