CPB Inc. (NYSE:CPF) Declares Dividend Increase – $0.29 Per Share

CPB Inc. (NYSE:CPF) announced a quarterly dividend on Tuesday, January 27th. Shareholders of record on Friday, February 27th will be given a dividend of 0.29 per share by the financial services provider on Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, February 27th. This is a 3.6% increase from CPB’s previous quarterly dividend of $0.28.

CPB has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. CPB has a payout ratio of 35.2% meaning its dividend is sufficiently covered by earnings. Analysts expect CPB to earn $3.05 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 36.7%.

CPB Stock Performance

CPF traded up $0.21 during midday trading on Wednesday, reaching $31.90. The company’s stock had a trading volume of 157,904 shares, compared to its average volume of 135,307. CPB has a twelve month low of $23.16 and a twelve month high of $34.67. The company has a fifty day simple moving average of $31.42 and a 200 day simple moving average of $30.03. The stock has a market cap of $855.74 million, a P/E ratio of 13.13 and a beta of 0.95. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22.

CPB (NYSE:CPF) last issued its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. CPB had a net margin of 18.66% and a return on equity of 13.28%. The firm had revenue of $76.29 million during the quarter, compared to the consensus estimate of $75.43 million. Research analysts expect that CPB will post 2.75 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on CPF. Keefe, Bruyette & Woods assumed coverage on shares of CPB in a report on Wednesday, October 8th. They issued a “market perform” rating and a $34.00 price target on the stock. Weiss Ratings restated a “buy (b)” rating on shares of CPB in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.50.

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.