CPB (NYSE:CPF) Price Target Raised to $37.00

CPB (NYSE:CPF) had its price target hoisted by Keefe, Bruyette & Woods from $36.00 to $37.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

A number of other research firms have also weighed in on CPF. Weiss Ratings restated a “buy (b)” rating on shares of CPB in a report on Monday, December 29th. Piper Sandler lowered their target price on shares of CPB from $39.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

CPB Trading Down 0.9%

CPF opened at $33.61 on Thursday. 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 has a fifty-two week low of $23.42 and a fifty-two week high of $35.01. The firm has a market capitalization of $888.65 million, a PE ratio of 11.75 and a beta of 0.88. The company’s 50-day moving average is $32.54 and its 200 day moving average is $31.25.

CPB (NYSE:CPF) last posted its earnings results on Wednesday, January 28th. The financial services provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. CPB had a net margin of 21.17% and a return on equity of 13.64%. The company had revenue of $76.29 million for the quarter, compared to analyst estimates of $75.43 million. As a group, research analysts predict that CPB will post 2.75 earnings per share for the current fiscal year.

CPB Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were paid a $0.29 dividend. This is a positive change from CPB’s previous quarterly dividend of $0.28. The ex-dividend date was Friday, February 27th. This represents a $1.16 annualized dividend and a yield of 3.5%. CPB’s dividend payout ratio (DPR) is 40.56%.

Institutional Investors Weigh In On CPB

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its stake in CPB by 535.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 915 shares of the financial services provider’s stock valued at $28,000 after buying an additional 771 shares during the last quarter. Quarry LP increased its stake in CPB by 3,169.6% in the 3rd 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 during the last quarter. Royal Bank of Canada increased its stake in CPB by 30.0% in the 4th quarter. Royal Bank of Canada now owns 1,630 shares of the financial services provider’s stock valued at $51,000 after buying an additional 376 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new stake in CPB in the 3rd quarter valued at about $62,000. Finally, iSAM Funds UK Ltd purchased a new stake in CPB in the 3rd quarter valued at about $62,000. Hedge funds and other institutional investors own 88.42% of the company’s stock.

About CPB

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.