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

1832 Asset Management L.P. decreased its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,707,875 shares of the transportation company’s stock after selling 17,002 shares during the period. Canadian Pacific Kansas City makes up about 0.9% of 1832 Asset Management L.P.’s investment portfolio, making the stock its 8th largest holding. 1832 Asset Management L.P. owned about 1.61% of Canadian Pacific Kansas City worth $1,165,893,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Twin Peaks Wealth Advisors LLC bought a new position in Canadian Pacific Kansas City during the second quarter worth about $27,000. Acadian Asset Management LLC acquired a new stake in shares of Canadian Pacific Kansas City in the first quarter valued at approximately $35,000. Chilton Capital Management LLC bought a new position in shares of Canadian Pacific Kansas City during the 2nd quarter worth approximately $49,000. WPG Advisers LLC acquired a new position in shares of Canadian Pacific Kansas City during the 1st quarter worth approximately $50,000. Finally, LRI Investments LLC increased its holdings in shares of Canadian Pacific Kansas City by 42.1% during the 2nd quarter. LRI Investments LLC now owns 719 shares of the transportation company’s stock worth $57,000 after acquiring an additional 213 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE:CP opened at $71.90 on Wednesday. Canadian Pacific Kansas City Limited has a 1 year low of $66.49 and a 1 year high of $83.65. The stock has a market capitalization of $64.51 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 1.83 and a beta of 1.11. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.63 and a quick ratio of 0.54. The company’s 50 day simple moving average is $73.36 and its 200 day simple moving average is $76.37.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Wednesday, October 29th. The transportation company reported $0.80 earnings per share 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 during the quarter, compared to analyst estimates of $2.71 billion. During the same period in the prior year, the business posted $0.99 EPS. As a group, research analysts predict that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.228 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. This represents a $0.91 annualized dividend and a yield of 1.3%. Canadian Pacific Kansas City’s payout ratio is presently 20.12%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays set a $90.00 price objective on shares of Canadian Pacific Kansas City and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Jefferies Financial Group set a $90.00 target price on shares of Canadian Pacific Kansas City in a report on Thursday, October 30th. Susquehanna set a $87.00 price target on shares of Canadian Pacific Kansas City in a report on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 30th. Finally, Royal Bank Of Canada reduced their price objective on Canadian Pacific Kansas City from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. One investment 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, the company has a consensus rating of “Moderate Buy” and an average price target 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.