CPB Inc. (NYSE:CPF – Get Free Report) hit a new 52-week high during mid-day trading on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $40.31 and last traded at $40.03, with a volume of 27672 shares changing hands. The stock had previously closed at $39.06.
A number of other brokerages have also commented on CPF. Weiss Ratings upgraded shares of CPB from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, June 18th. Keefe, Bruyette & Woods increased their target price on CPB from $36.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, April 9th. Piper Sandler dropped their price target on CPB from $39.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Finally, Benchmark initiated coverage on CPB in a report on Thursday, July 9th. They issued a “buy” rating and a $44.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $39.33.
Read Our Latest Stock Report on CPF
Institutional Investors Weigh In On CPB
CPB Trading Up 0.1%
The company has a market cap of $1.03 billion, a P/E ratio of 12.64 and a beta of 0.84. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $36.98 and a 200-day moving average price of $34.34.
CPB (NYSE:CPF – Get Free Report) last released its earnings results on Friday, July 24th. The financial services provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. The business had revenue of $77.45 million during the quarter, compared to analysts’ expectations of $75.69 million. CPB had a net margin of 22.52% and a return on equity of 14.20%. During the same period last year, the business earned $0.67 earnings per share. Analysts forecast that CPB Inc. will post 3.36 earnings per share for the current fiscal year.
CPB Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.0%. This is a boost from CPB’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, August 31st. CPB’s payout ratio is presently 37.18%.
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.
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