CIBC Private Wealth Group LLC Sells 419,302 Shares of Canadian Pacific Kansas City Limited $CP

CIBC Private Wealth Group LLC cut its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 90.4% in the third quarter, Holdings Channel.com reports. The firm owned 44,314 shares of the transportation company’s stock after selling 419,302 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Canadian Pacific Kansas City were worth $3,301,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CP. Dilation Capital Management LP grew its stake in shares of Canadian Pacific Kansas City by 4.4% during the third quarter. Dilation Capital Management LP now owns 170,269 shares of the transportation company’s stock valued at $12,683,000 after buying an additional 7,105 shares during the last quarter. Meixler Investment Management Ltd. bought a new stake in shares of Canadian Pacific Kansas City during the 3rd quarter worth approximately $1,644,000. AGF Management Ltd. lifted its stake in shares of Canadian Pacific Kansas City by 9.9% during the 3rd quarter. AGF Management Ltd. now owns 2,001,292 shares of the transportation company’s stock worth $149,215,000 after acquiring an additional 180,419 shares during the last quarter. Nicola Wealth Management LTD. boosted its holdings in Canadian Pacific Kansas City by 46.8% during the 3rd quarter. Nicola Wealth Management LTD. now owns 141,500 shares of the transportation company’s stock valued at $10,539,000 after acquiring an additional 45,100 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in Canadian Pacific Kansas City by 1.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,127,435 shares of the transportation company’s stock valued at $83,985,000 after acquiring an additional 14,916 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on CP shares. Evercore cut their price objective on Canadian Pacific Kansas City from $87.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, January 29th. Royal Bank Of Canada reissued an “outperform” rating and set a $124.00 target price (down from $127.00) on shares of Canadian Pacific Kansas City in a research note on Thursday, January 29th. Wall Street Zen cut shares of Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a report on Tuesday, March 3rd. Morgan Stanley raised shares of Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 8th. Finally, Scotiabank reiterated an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Wednesday, January 21st. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

Canadian Pacific Kansas City Trading Down 0.3%

Shares of NYSE CP opened at $78.22 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $79.80 and a two-hundred day simple moving average of $75.94. The firm has a market cap of $70.24 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 1.66 and a beta of 1.06. Canadian Pacific Kansas City Limited has a twelve month low of $66.49 and a twelve month high of $89.42.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, January 28th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.04). The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.85 billion. Canadian Pacific Kansas City had a net margin of 27.49% and a return on equity of 8.91%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $1.29 EPS. Analysts expect that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 27th. Shareholders of record on Friday, March 27th will be paid a $0.228 dividend. This represents a $0.91 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, March 27th. Canadian Pacific Kansas City’s payout ratio is 20.43%.

Canadian Pacific Kansas City Profile

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.