Bank of New York Mellon Corp Sells 26,437 Shares of Canadian Pacific Kansas City Limited $CP

Bank of New York Mellon Corp decreased its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 835,679 shares of the transportation company’s stock after selling 26,437 shares during the period. Bank of New York Mellon Corp owned about 0.09% of Canadian Pacific Kansas City worth $65,735,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Intech Investment Management LLC boosted its position in Canadian Pacific Kansas City by 16.0% in the first quarter. Intech Investment Management LLC now owns 21,276 shares of the transportation company’s stock worth $1,493,000 after purchasing an additional 2,940 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Canadian Pacific Kansas City in the first quarter worth $35,000. Sivia Capital Partners LLC purchased a new position in shares of Canadian Pacific Kansas City during the 2nd quarter valued at $206,000. Prudential Financial Inc. boosted its holdings in Canadian Pacific Kansas City by 8.7% in the 2nd quarter. Prudential Financial Inc. now owns 5,183 shares of the transportation company’s stock worth $411,000 after buying an additional 415 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Canadian Pacific Kansas City by 39.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,307 shares of the transportation company’s stock worth $104,000 after purchasing an additional 369 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

CP has been the topic of several recent research reports. Canadian Imperial Bank of Commerce upped their target price on shares of Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the company an “outperformer” rating in a research report on Thursday, June 25th. Stephens raised Canadian Pacific Kansas City to a “hold” rating in a research note on Wednesday, July 8th. Citizens Jmp started coverage on Canadian Pacific Kansas City in a research report on Wednesday, July 15th. They set a “market perform” rating on the stock. ATB Cormark Capital Markets lowered Canadian Pacific Kansas City from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, April 17th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $104.91.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock opened at $91.20 on Thursday. The firm has a market cap of $80.71 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 1.82 and a beta of 1.10. Canadian Pacific Kansas City Limited has a 52-week low of $68.42 and a 52-week high of $93.95. The company has a quick ratio of 0.57, a current ratio of 0.67 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $88.60 and its 200 day moving average is $83.20.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced 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 company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.70 billion. Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business posted $1.06 EPS. On average, sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.69 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Friday, June 26th will be paid 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 dividend payout ratio (DPR) is presently 24.07%.

Canadian Pacific Kansas City Profile

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.