CPB (NYSE:CPF) Issues Earnings Results, Beats Expectations By $0.02 EPS

CPB (NYSE:CPFGet Free Report) issued its quarterly earnings results on Friday. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02, FiscalAI reports. The firm had revenue of $77.45 million for the quarter, compared to analyst estimates of $75.69 million. CPB had a return on equity of 13.93% and a net margin of 21.96%.During the same period in the previous year, the company posted $0.67 earnings per share.

CPB Price Performance

CPF stock traded up $0.53 during trading on Friday, hitting $39.21. The company had a trading volume of 40,107 shares, compared to its average volume of 157,142. The company has a fifty day moving average price of $36.58 and a two-hundred day moving average price of $34.12. CPB has a fifty-two week low of $25.62 and a fifty-two week high of $40.06. The company has a market cap of $1.02 billion, a P/E ratio of 13.11 and a beta of 0.84. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

CPB Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.16 annualized dividend and a yield of 3.0%. CPB’s payout ratio is currently 38.80%.

Analyst Ratings Changes

A number of analysts have commented on CPF shares. Keefe, Bruyette & Woods raised their price objective on CPB from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. Piper Sandler lowered their price objective on CPB from $39.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Weiss Ratings upgraded CPB from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, June 18th. Finally, Benchmark began coverage on CPB in a research report on Thursday, July 9th. They issued a “buy” rating and a $44.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $39.33.

Check Out Our Latest Stock Analysis on CPF

Institutional Investors Weigh In On CPB

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP boosted its position in CPB by 3,169.6% in the third quarter. Quarry LP now owns 1,504 shares of the financial services provider’s stock valued at $46,000 after buying an additional 1,458 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of 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 buying an additional 376 shares in the last quarter. iSAM Funds UK Ltd bought a new position in shares of CPB in the third quarter valued at approximately $62,000. CIBC Private Wealth Group LLC bought a new position in shares of CPB in the third quarter valued at approximately $62,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of CPB by 369.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,065 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 3,199 shares in the last quarter. Institutional investors and hedge funds own 88.42% of the company’s stock.

About CPB

(Get Free Report)

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.

Further Reading

Earnings History for CPB (NYSE:CPF)

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