Bank of New York Mellon Corp Trims Stake in Canadian Pacific Kansas City Limited $CP

Bank of New York Mellon Corp lowered its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 0.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 862,116 shares of the transportation company’s stock after selling 7,920 shares during the period. Bank of New York Mellon Corp’s holdings in Canadian Pacific Kansas City were worth $63,478,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Cromwell Holdings LLC grew its stake in Canadian Pacific Kansas City by 8.1% during the 4th quarter. Cromwell Holdings LLC now owns 1,936 shares of the transportation company’s stock worth $143,000 after purchasing an additional 145 shares in the last quarter. Fortune Financial Advisors LLC lifted its holdings in Canadian Pacific Kansas City by 1.2% during the 4th quarter. Fortune Financial Advisors LLC now owns 13,623 shares of the transportation company’s stock worth $1,003,000 after buying an additional 158 shares during the last quarter. Brookstone Capital Management lifted its holdings in Canadian Pacific Kansas City by 1.2% during the 4th quarter. Brookstone Capital Management now owns 14,355 shares of the transportation company’s stock worth $1,057,000 after buying an additional 176 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Canadian Pacific Kansas City by 15.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,518 shares of the transportation company’s stock valued at $112,000 after purchasing an additional 202 shares during the last quarter. Finally, Advisory Services Network LLC lifted its holdings in shares of Canadian Pacific Kansas City by 3.1% in the 3rd quarter. Advisory Services Network LLC now owns 6,764 shares of the transportation company’s stock valued at $504,000 after purchasing an additional 204 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Stock Performance

NYSE CP opened at $90.29 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.57 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $84.83 and its two-hundred day moving average is $79.83. Canadian Pacific Kansas City Limited has a 12-month low of $68.42 and a 12-month high of $91.50. The stock has a market capitalization of $80.10 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 1.93 and a beta of 1.09.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, April 29th. The transportation company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.02). The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.70 billion. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 27.20%.The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.06 EPS. Research analysts expect that Canadian Pacific Kansas City Limited will post 3.76 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Friday, June 26th will be issued a $0.268 dividend. The ex-dividend date is Friday, June 26th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. Canadian Pacific Kansas City’s payout ratio is currently 20.68%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CP shares. Scotiabank downgraded Canadian Pacific Kansas City from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 9th. Sanford C. Bernstein boosted their target price on Canadian Pacific Kansas City from $85.41 to $90.00 and gave the company a “market perform” rating in a report on Tuesday, March 31st. National Bank Financial raised Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. Susquehanna reaffirmed a “positive” rating and set a $104.00 price objective on shares of Canadian Pacific Kansas City in a research note on Friday. Finally, ATB Cormark Capital Markets downgraded Canadian Pacific Kansas City from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Canadian Pacific Kansas City presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.22.

About Canadian Pacific Kansas City

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.