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

1832 Asset Management L.P. decreased its stake in Canadian Pacific Kansas City Limited by 0.1% in Q2, now holding 14,707,875 shares worth $1.17 billion. The stock is the 8th largest holding in its portfolio. Other institutional investors also adjusted their positions. Canadian Pacific Kansas City's recent earnings missed estimates slightly, and the company increased its quarterly dividend. Analysts have mixed ratings on the stock, with price targets ranging from $87 to $129.

1832 Asset Management L.P. decreased its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) 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.

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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.

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Canadian Pacific Kansas City (NYSE:CP - Get Free Report) 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

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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.

Get Our Latest Stock Analysis on Canadian Pacific Kansas City

Canadian Pacific Kansas City Company Profile

(Free Report)

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.

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