CPB (NYSE:CPF) Sets New 52-Week High After Earnings Beat

CPB Inc. (NYSE:CPF)’s share price reached a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $34.67 and last traded at $32.3450, with a volume of 70292 shares. The stock had previously closed at $31.69.

The financial services provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. The firm had revenue of $76.29 million during the quarter, compared to the consensus estimate of $75.43 million. CPB had a return on equity of 13.28% and a net margin of 18.66%.

Analyst Upgrades and Downgrades

CPF has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods initiated coverage on CPB in a report on Wednesday, October 8th. They set a “market perform” rating and a $34.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CPB in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, CPB currently has an average rating of “Moderate Buy” and an average target price of $34.50.

Institutional Trading of CPB

Hedge funds and other institutional investors have recently modified their holdings of the business. Summit Global Investments increased its position in shares of CPB by 2.5% during the second quarter. Summit Global Investments now owns 18,885 shares of the financial services provider’s stock valued at $529,000 after purchasing an additional 458 shares during the period. Twin Lakes Capital Management LLC boosted its stake in CPB by 0.3% during the third quarter. Twin Lakes Capital Management LLC now owns 184,244 shares of the financial services provider’s stock worth $5,590,000 after buying an additional 513 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in CPB by 2.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,163 shares of the financial services provider’s stock valued at $763,000 after buying an additional 616 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in CPB by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,849 shares of the financial services provider’s stock valued at $429,000 after buying an additional 670 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in shares of CPB by 535.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 915 shares of the financial services provider’s stock valued at $28,000 after buying an additional 771 shares in the last quarter. Institutional investors and hedge funds own 88.42% of the company’s stock.

CPB Stock Up 2.1%

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22. The business’s fifty day moving average price is $31.42 and its 200 day moving average price is $30.03. The company has a market capitalization of $867.95 million, a P/E ratio of 13.26 and a beta of 0.95.

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.