CPB (NYSE:CPF) Share Price Crosses Above 200 Day Moving Average – Here’s Why

CPB Inc. (NYSE:CPF) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $35.48 and traded as high as $37.86. CPB shares last traded at $37.3360, with a volume of 106,686 shares trading hands.

Analysts Set New Price Targets

CPF has been the topic of a number of research analyst reports. Zacks Research downgraded CPB from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 26th. Benchmark initiated coverage on CPB in a research note on Thursday, July 9th. They issued a “buy” rating and a $44.00 price objective on the stock. Finally, Weiss Ratings upgraded CPB from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.33.

CPB Trading Down 0.0%

The firm has a market capitalization of $971.93 million, a price-to-earnings ratio of 12.10 and a beta of 0.84. The firm’s 50-day moving average is $38.42 and its 200 day moving average is $35.50. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

CPB (NYSE:CPF) last posted its quarterly earnings data on Friday, July 24th. The financial services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The company had revenue of $77.45 million for the quarter, compared to analyst estimates of $75.69 million. CPB had a return on equity of 14.20% and a net margin of 22.52%.During the same period in the previous year, the firm earned $0.67 earnings per share. On average, equities analysts predict that CPB Inc. will post 3.32 earnings per share for the current fiscal year.

CPB Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.30 per share. This is a boost from CPB’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, August 31st. CPB’s payout ratio is 38.46%.

Institutional Trading of CPB

Institutional investors have recently bought and sold shares of the company. Quarry LP raised its position in shares of CPB by 3,169.6% in the 3rd quarter. Quarry LP now owns 1,504 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 1,458 shares in the last quarter. Royal Bank of Canada grew its stake in CPB by 30.0% during the fourth quarter. Royal Bank of Canada now owns 1,630 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 376 shares during the period. CIBC Private Wealth Group LLC bought a new stake in CPB in the third quarter worth approximately $62,000. iSAM Funds UK Ltd bought a new stake in CPB in the third quarter worth approximately $62,000. Finally, PNC Financial Services Group Inc. lifted its stake in CPB by 35.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,635 shares of the financial services provider’s stock valued at $84,000 after buying an additional 690 shares during the period. Institutional investors 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.