CPB (NYSE:CPF) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Shares crossed above the 200-day moving average: CPB traded as high as $38.00 and last changed hands at $37.33, above its $35.14 200-day average.
• Analyst sentiment is broadly positive: The stock has an average “Buy” rating and a consensus price target of $39.33, with recent upgrades including a “Strong Buy” rating from Zacks Research.
• Financial results and shareholder returns improved: Quarterly EPS and revenue exceeded estimates, while the company raised its quarterly dividend to $0.30 per share, producing a 3.2% annualized yield.

CPB Inc. (NYSE:CPF - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $35.14 and traded as high as $38.00. CPB shares last traded at $37.33, with a volume of 226,887 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CPF shares. Weiss Ratings raised CPB from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Thursday, June 18th. Benchmark started coverage on shares of CPB in a research report on Thursday, July 9th. They set a "buy" rating and a $44.00 price objective on the stock. Finally, Zacks Research upgraded shares of CPB from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, CPB presently has an average rating of "Buy" and a consensus target price of $39.33.

CPB Stock Down 0.5%

The firm has a 50-day moving average price of $38.23 and a two-hundred day moving average price of $35.14. The company has a market capitalization of $961.25 million, a P/E ratio of 11.96 and a beta of 0.85. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

CPB (NYSE:CPF - Get Free Report) last posted its quarterly earnings data on Friday, July 24th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. The company had revenue of $77.45 million for the quarter, compared to the consensus estimate of $75.69 million. CPB had a net margin of 22.52% and a return on equity of 14.20%. During the same quarter in the previous year, the firm posted $0.67 EPS. Equities research analysts anticipate that CPB Inc. will post 3.32 EPS for the current fiscal year.

CPB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.30 per share. This is an increase from CPB's previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, August 31st. CPB's dividend payout ratio is currently 37.18%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in shares of CPB during the second quarter worth approximately $11,926,000. Millennium Management LLC increased its holdings in shares of CPB by 433.6% in the first quarter. Millennium Management LLC now owns 293,335 shares of the financial services provider's stock valued at $7,932,000 after purchasing an additional 238,367 shares in the last quarter. HoldCo Asset Management LP increased its holdings in shares of CPB by 6.4% in 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. raised its position in CPB by 122.4% in the 4th quarter. Invesco Ltd. now owns 185,893 shares of the financial services provider's stock worth $5,792,000 after purchasing an additional 102,301 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in CPB in the 4th quarter worth approximately $3,171,000. 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.

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