CPB Inc. (NYSE:CPF) to Issue Quarterly Dividend of $0.29

Key Points

• CPB declared a quarterly dividend of $0.29 per share (annualized $1.16), payable June 15 to holders of record May 29, with a yield of about 3.4% and a payout ratio (~36.5%) that analysts say is comfortably covered by earnings.
• The company reported Q results of $0.78 EPS (beat by $0.02) on $72.93M revenue (below estimates), its stock traded around $34.14 (-1.4%), and analysts have a "Moderate Buy" consensus with an average target of $37.00.

CPB Inc. (NYSE:CPF - Get Free Report) declared a quarterly dividend on Wednesday, April 29th. Investors of record on Friday, May 29th will be paid a dividend of 0.29 per share by the financial services provider on Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, May 29th.

CPB has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 1 years. CPB has a dividend payout ratio of 36.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect CPB to earn $3.60 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 32.2%.

CPB Stock Down 1.4%

Shares of NYSE:CPF traded down $0.47 during mid-day trading on Wednesday, hitting $34.14. 123,764 shares of the company traded hands, compared to its average volume of 165,959. The stock has a market cap of $902.64 million, a P/E ratio of 11.94 and a beta of 0.88. 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 has a 12-month low of $25.23 and a 12-month high of $35.41. The stock has a 50-day moving average price of $32.59 and a two-hundred day moving average price of $31.62.

CPB (NYSE:CPF - Get Free Report) last announced its earnings results on Wednesday, April 29th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. CPB had a return on equity of 13.64% and a net margin of 21.17%.The company had revenue of $72.93 million for the quarter, compared to analysts' expectations of $74.30 million. On average, equities research analysts forecast that CPB will post 3.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CPF shares. Keefe, Bruyette & Woods boosted 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 cut 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. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, CPB presently has an average rating of "Moderate Buy" and an average target price of $37.00.

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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