Pinnacle Associates Ltd. Sells 49,297 Shares of Canadian Pacific Kansas City Limited $CP

Pinnacle Associates Ltd. trimmed its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 16.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 253,783 shares of the transportation company’s stock after selling 49,297 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Canadian Pacific Kansas City were worth $20,117,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in Canadian Pacific Kansas City by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 37,142,988 shares of the transportation company’s stock worth $2,606,624,000 after acquiring an additional 364,515 shares during the last quarter. TD Asset Management Inc lifted its holdings in Canadian Pacific Kansas City by 0.7% in the 2nd quarter. TD Asset Management Inc now owns 21,002,374 shares of the transportation company’s stock worth $1,665,106,000 after buying an additional 136,970 shares during the period. Causeway Capital Management LLC lifted its holdings in Canadian Pacific Kansas City by 11.5% in the 1st quarter. Causeway Capital Management LLC now owns 17,208,788 shares of the transportation company’s stock worth $1,207,605,000 after buying an additional 1,778,984 shares during the period. Invesco Ltd. lifted its holdings in Canadian Pacific Kansas City by 59.5% in the 1st quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company’s stock worth $1,192,471,000 after buying an additional 6,337,312 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in Canadian Pacific Kansas City by 6.5% in the 1st quarter. Mackenzie Financial Corp now owns 16,347,804 shares of the transportation company’s stock worth $1,147,220,000 after buying an additional 999,522 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CP has been the subject of several research analyst reports. Susquehanna set a $87.00 price objective on Canadian Pacific Kansas City in a report on Thursday. Scotiabank reiterated an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 10th. Jefferies Financial Group set a $90.00 price objective on Canadian Pacific Kansas City in a report on Thursday. National Bank Financial upgraded Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 30th. Finally, Citigroup lowered their target price on Canadian Pacific Kansas City from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.69.

Canadian Pacific Kansas City Stock Down 0.7%

Shares of NYSE:CP opened at $72.64 on Friday. The stock has a fifty day simple moving average of $75.54 and a two-hundred day simple moving average of $76.95. The stock has a market capitalization of $65.41 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 2.08 and a beta of 1.08. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $83.65. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, October 29th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Canadian Pacific Kansas City had a net margin of 28.41% and a return on equity of 8.74%. During the same quarter in the previous year, the firm posted $0.99 EPS. On average, research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.228 per share. The ex-dividend date is Wednesday, December 31st. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. This represents a $0.91 dividend on an annualized basis and a yield of 1.3%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 20.56%.

Canadian Pacific Kansas City 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.