CPB (NYSE:CPF) Upgraded by Zacks Research to Strong-Buy Rating

Key Points

• Zacks Research upgraded CPB (NYSE: CPF) from “hold” to “strong buy.” Analysts’ overall consensus is “buy,” with a $39.33 average price target and ratings ranging from hold to strong buy.
• CPB’s latest quarterly results exceeded expectations, with EPS of $0.80 versus the $0.78 consensus and revenue of $77.45 million compared with estimates of $75.69 million.
• The stock opened at $39.44, near its 52-week high of $40.31, while institutional investors and hedge funds own 88.42% of outstanding shares.

CPB (NYSE:CPF - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler decreased their price target on shares of CPB from $39.00 to $37.00 and set an "overweight" rating on the stock in a research note 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. Keefe, Bruyette & Woods upped their price objective on shares of CPB from $36.00 to $37.00 and gave the company a "market perform" rating in a research note on Thursday, April 9th. Finally, Benchmark assumed coverage on shares of CPB in a research report on Thursday, July 9th. They set a "buy" rating and a $44.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $39.33.

CPB Stock Down 0.7%

CPF opened at $39.44 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.03 billion, a P/E ratio of 12.64 and a beta of 0.84. CPB has a 52 week low of $25.62 and a 52 week high of $40.31. The business's fifty day simple moving average is $36.98 and its 200 day simple moving average is $34.34.

CPB (NYSE:CPF - Get Free Report) last posted its quarterly earnings data on Friday, July 24th. The financial services provider reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.02. CPB had a return on equity of 14.20% and a net margin of 22.52%.The firm had revenue of $77.45 million during the quarter, compared to analysts' expectations of $75.69 million. During the same quarter last year, the business posted $0.67 EPS. As a group, equities research analysts anticipate that CPB will post 3.36 EPS for the current fiscal year.

Institutional Investors Weigh In On CPB

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

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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