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

Key Points

• CPB shares moved above their 200-day moving average, reaching $37.86 versus the $35.48 average, before trading near $37.34.
• Analysts maintain a “Moderate Buy” consensus with a $39.33 price target, although Zacks Research downgraded the stock to “hold” while Benchmark initiated coverage with a “buy” rating and a $44 target.
• CPB exceeded quarterly earnings and revenue expectations and raised its quarterly dividend to $0.30 per share, equivalent to a 3.2% yield.

CPB Inc. (NYSE:CPF - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $35.48 and traded as high as $37.86. CPB shares last traded at $37.3360, with a volume of 106,686 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CPF shares. Zacks Research cut CPB from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 26th. 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, Benchmark started coverage on shares of CPB in a research note on Thursday, July 9th. They issued a "buy" rating and a $44.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $39.33.

CPB Trading Down 0.9%

The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $961.40 million, a price-to-earnings ratio of 11.97 and a beta of 0.84. The business's 50-day moving average price is $38.44 and its two-hundred day moving average price is $35.48.

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

CPB Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.30 per share. This is an increase from CPB's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.20 annualized dividend and a dividend yield of 3.2%. CPB's payout ratio is currently 38.46%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CPF. Vanguard Group Inc. raised its holdings in shares of CPB by 1.2% during 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 in the last quarter. Principal Financial Group Inc. boosted its stake in CPB by 27.1% in the first quarter. Principal Financial Group Inc. now owns 162,431 shares of the financial services provider's stock valued at $5,191,000 after buying an additional 34,591 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in CPB in the second quarter valued at about $11,926,000. Hsbc Holdings PLC acquired a new stake in CPB in the fourth quarter valued at about $3,171,000. Finally, Hennion & Walsh Asset Management Inc. grew its position in CPB by 94.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 27,727 shares of the financial services provider's stock valued at $1,059,000 after acquiring an additional 13,499 shares during 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.