CPB (NYSE:CPF) Coverage Initiated by Analysts at Benchmark

Key Points

• Benchmark initiated coverage on CPB (NYSE: CPF) with a buy rating, adding to a generally positive analyst outlook on the stock.
• Analyst sentiment is constructive overall: CPB now has an average Buy rating and an average price target of $37.00, with recent reports from Piper Sandler and Keefe, Bruyette & Woods also in the mix.
• The stock traded up 0.6% to $38.45, while the company reported EPS of $0.78 last quarter, beating estimates, though revenue came in slightly below consensus.

Equities researchers at Benchmark began coverage on shares of CPB (NYSE:CPF - Get Free Report) in a report released on Thursday, MarketBeat.com reports. The firm set a "buy" rating on the financial services provider's stock.

CPF has been the topic of a number of other reports. Piper Sandler cut their price objective 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. Weiss Ratings raised shares of CPB from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Thursday, June 18th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of CPB from $36.00 to $37.00 and gave the stock a "market perform" rating in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, CPB has an average rating of "Buy" and an average target price of $37.00.

CPB Stock Up 0.6%

Shares of NYSE:CPF traded up $0.24 during midday trading on Thursday, hitting $38.45. 14,651 shares of the company's stock were exchanged, compared to its average volume of 158,829. The company has a market cap of $1.00 billion, a PE ratio of 12.80 and a beta of 0.84. 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 12 month low of $25.62 and a 12 month high of $39.20. The stock has a 50 day moving average price of $35.60 and a 200-day moving average price of $33.60.

CPB (NYSE:CPF - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. The firm had revenue of $72.93 million during the quarter, compared to the consensus estimate of $74.30 million. CPB had a return on equity of 13.93% and a net margin of 21.96%. On average, sell-side analysts anticipate that CPB will post 3.17 EPS for the current fiscal year.

Institutional Investors Weigh In On CPB

Several large investors have recently made changes to their positions in CPF. Royal Bank of Canada grew its position in CPB by 15.8% during the first quarter. Royal Bank of Canada now owns 9,131 shares of the financial services provider's stock valued at $247,000 after buying an additional 1,245 shares during the period. AQR Capital Management LLC raised its position in CPB by 1.6% in the first quarter. AQR Capital Management LLC now owns 169,809 shares of the financial services provider's stock worth $4,592,000 after acquiring an additional 2,731 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in CPB by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,849 shares of the financial services provider's stock valued at $429,000 after acquiring an additional 670 shares during the last quarter. Millennium Management LLC grew its position in shares of CPB by 433.6% during the 1st quarter. Millennium Management LLC now owns 293,335 shares of the financial services provider's stock valued at $7,932,000 after acquiring an additional 238,367 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of CPB during the 1st quarter valued at approximately $248,000. 88.42% of the stock is owned by hedge funds and other institutional investors.

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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