Bank of New York Mellon Corp Takes Position in CPB Inc. $CPF

Bank of New York Mellon Corp purchased a new stake in CPB Inc. (NYSE:CPF - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 312,192 shares of the financial services provider's stock, valued at approximately $11,926,000. Bank of New York Mellon Corp owned 1.20% of CPB as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of CPF. HoldCo Asset Management LP raised its position in 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 purchasing an additional 146,547 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of CPB by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 2,079,266 shares of the financial services provider's stock worth $64,790,000 after buying an additional 24,933 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of CPB by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,046,284 shares of the financial services provider's stock worth $32,602,000 after buying an additional 12,206 shares in the last quarter. Basswood Capital Management L.L.C. grew its position in shares of CPB by 11.0% during the 2nd quarter. Basswood Capital Management L.L.C. now owns 885,753 shares of the financial services provider's stock worth $24,828,000 after buying an additional 88,028 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of CPB by 15.9% during the fourth quarter. JPMorgan Chase & Co. now owns 299,652 shares of the financial services provider's stock valued at $9,337,000 after buying an additional 41,019 shares during the period. Institutional investors own 88.42% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CPF. Benchmark started coverage on CPB in a report on Thursday, July 9th. They issued a "buy" rating and a $44.00 price objective for the company. Zacks Research downgraded shares of CPB from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 26th. Finally, Weiss Ratings upgraded shares of CPB from a "buy (b+)" rating to a "buy (a-)" rating in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $39.33.

CPB Stock Performance

Shares of CPB stock opened at $36.86 on Wednesday. The company has a market capitalization of $949.14 million, a PE ratio of 11.81 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The company has a 50-day simple moving average of $38.45 and a two-hundred day simple moving average of $35.32. CPB Inc. has a one year low of $27.38 and a one year high of $40.99.

CPB (NYSE:CPF - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The financial services provider reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.02. CPB had a net margin of 22.52% and a return on equity of 14.20%. The business had revenue of $77.45 million for the quarter, compared to analysts' expectations of $75.69 million. During the same period last year, the business earned $0.67 EPS. Research analysts expect that CPB Inc. will post 3.32 EPS for the current fiscal year.

CPB Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.3%. This is a positive change from CPB's previous quarterly dividend of $0.29. The ex-dividend date is Monday, August 31st. CPB's payout ratio is 38.46%.

CPB 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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