1832 Asset Management L.P. Decreases Stake in Canadian Pacific Kansas City Limited $CP

1832 Asset Management L.P. trimmed its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 0.1% in the second quarter, Holdings Channel reports. The fund owned 14,707,875 shares of the transportation company’s stock after selling 17,002 shares during the quarter. Canadian Pacific Kansas City accounts for 0.9% of 1832 Asset Management L.P.’s portfolio, making the stock its 8th largest holding. 1832 Asset Management L.P.’s holdings in Canadian Pacific Kansas City were worth $1,165,893,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TIAA Trust National Association raised its stake in Canadian Pacific Kansas City by 6.7% during the first quarter. TIAA Trust National Association now owns 9,547 shares of the transportation company’s stock worth $670,000 after buying an additional 600 shares during the last quarter. Banco Santander S.A. acquired a new stake in Canadian Pacific Kansas City during the 1st quarter worth about $246,000. Goldman Sachs Group Inc. raised its position in shares of Canadian Pacific Kansas City by 70.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,299,753 shares of the transportation company’s stock worth $652,936,000 after acquiring an additional 3,842,866 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Canadian Pacific Kansas City by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 37,142,988 shares of the transportation company’s stock valued at $2,606,624,000 after purchasing an additional 364,515 shares during the period. Finally, Exencial Wealth Advisors LLC boosted its position in shares of Canadian Pacific Kansas City by 1.6% during the 1st quarter. Exencial Wealth Advisors LLC now owns 17,971 shares of the transportation company’s stock valued at $1,262,000 after purchasing an additional 279 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

Canadian Pacific Kansas City stock opened at $71.90 on Wednesday. Canadian Pacific Kansas City Limited has a 52 week low of $66.49 and a 52 week high of $83.65. The company’s 50 day moving average price is $73.36 and its two-hundred day moving average price is $76.37. The stock has a market cap of $64.51 billion, a P/E ratio of 21.92, a P/E/G ratio of 1.83 and a beta of 1.11. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 0.46.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Wednesday, October 29th. The transportation company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.41% and a return on equity of 8.79%. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same period in the previous year, the business posted $0.99 earnings per share. On average, equities analysts predict that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.228 per share. This represents a $0.91 dividend on an annualized basis and a yield of 1.3%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, December 31st. Canadian Pacific Kansas City’s dividend payout ratio is 20.12%.

Analyst Ratings Changes

A number of brokerages have weighed in on CP. Barclays set a $90.00 target price on Canadian Pacific Kansas City and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 30th. Royal Bank Of Canada dropped their target price on shares of Canadian Pacific Kansas City from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Thursday, October 30th. Jefferies Financial Group set a $90.00 target price on shares of Canadian Pacific Kansas City in a research note on Thursday, October 30th. Finally, Evercore ISI decreased their price target on shares of Canadian Pacific Kansas City from $88.00 to $87.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.69.

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.