Allianz Asset Management GmbH Has $8.83 Million Stake in CPB Inc. $CPF

Allianz Asset Management GmbH cut its holdings in shares of CPB Inc. (NYSE:CPF) by 33.1% during the third quarter, Holdings Channel reports. The fund owned 291,002 shares of the financial services provider’s stock after selling 143,924 shares during the quarter. Allianz Asset Management GmbH’s holdings in CPB were worth $8,829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. HoldCo Asset Management LP bought a new position in CPB during the second quarter worth $30,767,000. Millennium Management LLC boosted its holdings in shares of CPB by 433.6% during the 1st quarter. Millennium Management LLC now owns 293,335 shares of the financial services provider’s stock worth $7,932,000 after buying an additional 238,367 shares during the period. Qube Research & Technologies Ltd boosted its holdings in shares of CPB by 371.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 114,740 shares of the financial services provider’s stock worth $3,216,000 after buying an additional 90,385 shares during the period. Basswood Capital Management L.L.C. grew its stake in CPB by 11.0% in the 2nd quarter. Basswood Capital Management L.L.C. now owns 885,753 shares of the financial services provider’s stock valued at $24,828,000 after buying an additional 88,028 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in CPB by 335.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 86,523 shares of the financial services provider’s stock valued at $2,426,000 after acquiring an additional 66,642 shares during the period. Institutional investors and hedge funds own 88.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CPF shares. Weiss Ratings restated a “buy (b)” rating on shares of CPB in a report on Monday, December 29th. Keefe, Bruyette & Woods boosted their price target on CPB from $34.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, February 2nd. 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

CPB Price Performance

Shares of NYSE CPF opened at $34.42 on Tuesday. The business has a fifty day moving average price of $32.06 and a two-hundred day moving average price of $30.34. The stock has a market capitalization of $923.49 million, a PE ratio of 12.03 and a beta of 0.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.85. CPB Inc. has a fifty-two week low of $23.16 and a fifty-two week high of $35.01.

CPB (NYSE:CPF) last issued its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. CPB had a return on equity of 13.64% and a net margin of 21.17%.The company had revenue of $76.29 million for the quarter, compared to analysts’ expectations of $75.43 million. As a group, equities analysts predict that CPB Inc. will post 2.75 earnings per share for the current fiscal 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 dividend of $0.29 per share. This is a boost from CPB’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.4%. CPB’s payout ratio is currently 39.16%.

CPB 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.