Canadian Pacific Kansas City Limited (NYSE:CP) Position Cut by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC trimmed its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 5.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 122,832 shares of the transportation company’s stock after selling 7,181 shares during the quarter. Cary Street Partners Financial LLC’s holdings in Canadian Pacific Kansas City were worth $8,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ExodusPoint Capital Management LP acquired a new stake in shares of Canadian Pacific Kansas City during the 4th quarter valued at $2,329,000. Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in shares of Canadian Pacific Kansas City during the fourth quarter worth $2,794,000. Invesco Ltd. raised its holdings in shares of Canadian Pacific Kansas City by 25.7% during the fourth quarter. Invesco Ltd. now owns 10,647,039 shares of the transportation company’s stock worth $770,526,000 after acquiring an additional 2,177,604 shares in the last quarter. Rathbones Group PLC raised its holdings in shares of Canadian Pacific Kansas City by 12.8% during the fourth quarter. Rathbones Group PLC now owns 1,395,281 shares of the transportation company’s stock worth $100,976,000 after acquiring an additional 158,563 shares in the last quarter. Finally, Maren Capital LLC increased its position in Canadian Pacific Kansas City by 12.0% during the fourth quarter. Maren Capital LLC now owns 1,199,414 shares of the transportation company’s stock worth $86,802,000 after buying an additional 128,916 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on CP shares. Wall Street Zen downgraded shares of Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. The Goldman Sachs Group reissued a “neutral” rating and set a $91.00 target price on shares of Canadian Pacific Kansas City in a research report on Monday, June 2nd. Citigroup raised their price target on shares of Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Stephens lifted their target price on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Finally, Stifel Nicolaus cut their target price on shares of Canadian Pacific Kansas City from $85.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.30.

Canadian Pacific Kansas City Trading Up 2.0%

Shares of NYSE:CP opened at $74.31 on Tuesday. The company’s 50-day moving average price is $79.62 and its two-hundred day moving average price is $76.95. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.93 and a quick ratio of 0.81. Canadian Pacific Kansas City Limited has a one year low of $66.49 and a one year high of $87.72. The stock has a market capitalization of $68.21 billion, a PE ratio of 23.15, a price-to-earnings-growth ratio of 2.05 and a beta of 1.06.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings results on Wednesday, July 30th. The transportation company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter last year, the company posted $1.05 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.1651 per share. The ex-dividend date of this dividend is Friday, September 26th. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. Canadian Pacific Kansas City’s payout ratio is 20.56%.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada, the United States, and Mexico. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; merchandise freight, such as forest products, energy, chemicals and plastics, metals, minerals, consumer products, and automotive; and intermodal traffic comprising retail goods in overseas containers.