Canadian Pacific Kansas City Limited $CP Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 3.1% during the first quarter, Holdings Channel.com reports. The fund owned 835,679 shares of the transportation company’s stock after selling 26,437 shares during the period. Bank of New York Mellon Corp’s holdings in Canadian Pacific Kansas City were worth $65,735,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Canadian Pacific Kansas City by 112.2% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,500 shares of the transportation company’s stock worth $670,000 after buying an additional 4,494 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Canadian Pacific Kansas City by 2.5% during the first quarter. Sanctuary Advisors LLC now owns 30,967 shares of the transportation company’s stock valued at $2,432,000 after buying an additional 749 shares during the last quarter. Maryland State Retirement & Pension System increased its position in shares of Canadian Pacific Kansas City by 5.1% in the 1st quarter. Maryland State Retirement & Pension System now owns 101,629 shares of the transportation company’s stock valued at $7,999,000 after acquiring an additional 4,923 shares during the period. Parr Mcknight Wealth Management Group LLC increased its position in shares of Canadian Pacific Kansas City by 99.9% in the 1st quarter. Parr Mcknight Wealth Management Group LLC now owns 39,481 shares of the transportation company’s stock valued at $3,106,000 after acquiring an additional 19,735 shares during the period. Finally, LGT Fund Management Co Ltd. raised its stake in Canadian Pacific Kansas City by 2.5% in the 1st quarter. LGT Fund Management Co Ltd. now owns 78,285 shares of the transportation company’s stock worth $6,162,000 after acquiring an additional 1,897 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE CP opened at $91.20 on Thursday. Canadian Pacific Kansas City Limited has a 1 year low of $68.42 and a 1 year high of $93.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.57 and a current ratio of 0.67. The company’s fifty day moving average price is $88.60 and its 200 day moving average price is $83.20. The company has a market capitalization of $80.71 billion, a PE ratio of 28.15, a price-to-earnings-growth ratio of 1.82 and a beta of 1.10.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, April 29th. The transportation company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 27.20% and a return on equity of 8.86%. Canadian Pacific Kansas City’s revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the business earned $1.06 earnings per share. On average, research analysts predict that Canadian Pacific Kansas City Limited will post 3.69 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Friday, June 26th will be given a dividend of $0.268 per share. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, June 26th. This represents a $1.07 annualized dividend and a dividend yield of 1.2%. Canadian Pacific Kansas City’s payout ratio is currently 24.07%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barclays set a $102.00 price target on Canadian Pacific Kansas City and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Wells Fargo & Company raised their price objective on Canadian Pacific Kansas City from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Wednesday, June 24th. ATB Cormark Capital Markets lowered Canadian Pacific Kansas City from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, April 17th. Finally, Evercore set a $91.00 price target on shares of Canadian Pacific Kansas City and gave the stock an “outperform” rating in a report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.91.

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.