CPB (NYSE:CPF) Hits New 52-Week High - Still a Buy?

Key Points

• CPB hit a new 52-week high, trading as high as $39.70 and ending near $39.56, above its previous close of $38.70.
• Wall Street sentiment is generally positive: analysts have an average “Buy” rating with an average price target of $39.33, though opinions vary from Hold to Strong Buy.
• The company recently beat quarterly EPS estimates and continues to pay a 2.9% dividend yield, supported by a payout ratio of 38.8%.

CPB Inc. (NYSE:CPF - Get Free Report)'s share price reached a new 52-week high on Thursday . The company traded as high as $39.70 and last traded at $39.5550, with a volume of 8493 shares traded. The stock had previously closed at $38.70.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of CPB from $36.00 to $37.00 and gave the stock a "market perform" rating in a research report on Thursday, April 9th. Benchmark initiated coverage on CPB in a research note on Thursday, July 9th. They set a "buy" rating and a $44.00 price objective for the company. Piper Sandler cut their price objective on CPB from $39.00 to $37.00 and set an "overweight" rating for the company in a report on Thursday, April 2nd. Finally, Weiss Ratings upgraded shares of CPB from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Thursday, June 18th. One investment 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 stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $39.33.

CPB Stock Performance

The firm has a fifty day moving average of $36.02 and a 200-day moving average of $33.81. The firm has a market cap of $1.04 billion, a P/E ratio of 13.35 and a beta of 0.84. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.13.

CPB (NYSE:CPF - Get Free Report) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. The company had revenue of $72.93 million during the quarter, compared to analysts' expectations of $74.30 million. CPB had a net margin of 21.96% and a return on equity of 13.93%. Research analysts predict that CPB Inc. will post 3.17 earnings per share for the current fiscal year.

CPB Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 2.9%. CPB's payout ratio is 38.80%.

Institutional Trading of CPB

Several hedge funds and other institutional investors have recently modified their holdings of CPF. Millennium Management LLC lifted its position in CPB by 433.6% during the first quarter. Millennium Management LLC now owns 293,335 shares of the financial services provider's stock worth $7,932,000 after acquiring an additional 238,367 shares during the last quarter. HoldCo Asset Management LP raised its position in CPB by 6.4% during the fourth quarter. HoldCo Asset Management LP now owns 2,427,576 shares of the financial services provider's stock valued at $75,643,000 after purchasing an additional 146,547 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of CPB by 122.4% in the 4th quarter. Invesco Ltd. now owns 185,893 shares of the financial services provider's stock valued at $5,792,000 after purchasing an additional 102,301 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of CPB in the 4th quarter valued at $3,171,000. Finally, Qube Research & Technologies Ltd raised its holdings in shares of CPB by 371.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 114,740 shares of the financial services provider's stock worth $3,216,000 after buying an additional 90,385 shares in the last quarter. Institutional investors and hedge funds own 88.42% of the company's stock.

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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