Golden State Wealth Management LLC Cuts Stake in Canadian Pacific Kansas City Limited (NYSE:CP)

Golden State Wealth Management LLC reduced its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 17.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,456 shares of the transportation company’s stock after selling 308 shares during the period. Golden State Wealth Management LLC’s holdings in Canadian Pacific Kansas City were worth $102,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Canadian Pacific Kansas City by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 36,778,473 shares of the transportation company’s stock worth $2,662,978,000 after acquiring an additional 491,966 shares during the period. Causeway Capital Management LLC increased its position in Canadian Pacific Kansas City by 76.5% during the 4th quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company’s stock worth $1,116,632,000 after purchasing an additional 6,687,770 shares in the last quarter. Mackenzie Financial Corp increased its position in Canadian Pacific Kansas City by 1.8% during the 4th quarter. Mackenzie Financial Corp now owns 15,348,282 shares of the transportation company’s stock worth $1,110,111,000 after purchasing an additional 276,223 shares in the last quarter. Norges Bank acquired a new stake in Canadian Pacific Kansas City during the 4th quarter worth approximately $914,090,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Canadian Pacific Kansas City by 11.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,433,380 shares of the transportation company’s stock worth $899,805,000 after purchasing an additional 1,262,913 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Performance

Shares of CP opened at $81.11 on Monday. The business’s fifty day moving average price is $79.13 and its 200 day moving average price is $76.34. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $87.72. The stock has a market capitalization of $74.74 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 2.27 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.81 and a quick ratio of 0.70.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, April 30th. The transportation company reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. Canadian Pacific Kansas City had a return on equity of 8.68% and a net margin of 25.99%. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period last year, the business posted $0.93 earnings per share. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. Equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be paid a $0.1644 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.81%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, June 27th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 22.30%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CP shares. Evercore ISI dropped their target price on shares of Canadian Pacific Kansas City from $89.00 to $88.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Royal Bank Of Canada lowered their price objective on shares of Canadian Pacific Kansas City from $122.00 to $121.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Argus set a $90.00 price objective on shares of Canadian Pacific Kansas City in a research report on Wednesday, March 26th. Bank of America increased their target price on Canadian Pacific Kansas City from $82.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Finally, Barclays reduced their target price on Canadian Pacific Kansas City from $91.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and an average target price of $90.95.

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.