Park Avenue Securities LLC Lowers Stake in Canadian Pacific Kansas City Limited (NYSE:CP)

Park Avenue Securities LLC reduced its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,863 shares of the transportation company’s stock after selling 677 shares during the quarter. Park Avenue Securities LLC’s holdings in Canadian Pacific Kansas City were worth $3,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CP. YCG LLC lifted its holdings in Canadian Pacific Kansas City by 32.5% in the 4th quarter. YCG LLC now owns 372,422 shares of the transportation company’s stock worth $29,444,000 after purchasing an additional 91,276 shares in the last quarter. JARISLOWSKY FRASER Ltd boosted its position in shares of Canadian Pacific Kansas City by 63.6% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 89,644 shares of the transportation company’s stock worth $7,127,000 after acquiring an additional 34,856 shares during the last quarter. Meritage Group LP purchased a new position in Canadian Pacific Kansas City during the fourth quarter valued at $207,850,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Canadian Pacific Kansas City by 5.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 308,459 shares of the transportation company’s stock valued at $24,525,000 after acquiring an additional 14,557 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Canadian Pacific Kansas City by 4.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 11,969,862 shares of the transportation company’s stock valued at $948,585,000 after acquiring an additional 507,177 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Performance

NYSE CP traded up $0.91 during trading hours on Thursday, reaching $78.29. The stock had a trading volume of 157,118 shares, compared to its average volume of 2,160,536. Canadian Pacific Kansas City Limited has a 52-week low of $68.92 and a 52-week high of $91.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.43 and a current ratio of 0.51. The stock has a market cap of $73.05 billion, a P/E ratio of 24.80, a price-to-earnings-growth ratio of 2.27 and a beta of 0.96. The stock has a fifty day moving average of $79.76 and a 200 day moving average of $82.76.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.74 by $0.31. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.58 billion. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 earnings per share. Sell-side analysts predict that Canadian Pacific Kansas City Limited will post 3.11 earnings per share for the current year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be given a dividend of $0.1373 per share. The ex-dividend date is Friday, September 27th. This represents a $0.55 annualized dividend and a yield of 0.70%. Canadian Pacific Kansas City’s dividend payout ratio is presently 17.31%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays dropped their price objective on shares of Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, July 16th. Sanford C. Bernstein boosted their price objective on Canadian Pacific Kansas City from $88.50 to $89.06 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Evercore ISI lowered their price objective on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Bank of America dropped their target price on Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Jefferies Financial Group decreased their price target on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Twelve equities research analysts have rated the stock with a hold rating and twelve have issued a buy 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 $95.70.

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.