Park Avenue Securities LLC Trims Stock Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Park Avenue Securities LLC trimmed its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.5% in the second quarter, HoldingsChannel reports. The firm owned 43,863 shares of the transportation company’s stock after selling 677 shares during the period. Park Avenue Securities LLC’s holdings in Canadian Pacific Kansas City were worth $3,454,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Canadian Pacific Kansas City by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 34,926,548 shares of the transportation company’s stock worth $3,079,474,000 after purchasing an additional 588,701 shares during the last quarter. TD Asset Management Inc boosted its position in Canadian Pacific Kansas City by 2.5% during the first quarter. TD Asset Management Inc now owns 21,703,229 shares of the transportation company’s stock worth $1,915,196,000 after acquiring an additional 532,303 shares during the last quarter. Mackenzie Financial Corp boosted its position in Canadian Pacific Kansas City by 5.9% during the fourth quarter. Mackenzie Financial Corp now owns 14,178,436 shares of the transportation company’s stock worth $1,122,370,000 after acquiring an additional 787,608 shares during the last quarter. Veritas Asset Management LLP grew its stake in Canadian Pacific Kansas City by 1.8% in the 4th quarter. Veritas Asset Management LLP now owns 13,434,704 shares of the transportation company’s stock worth $1,062,148,000 after acquiring an additional 243,210 shares during the period. Finally, Norges Bank acquired a new position in Canadian Pacific Kansas City in the 4th quarter valued at $979,890,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Stock Up 1.2 %

Shares of NYSE CP traded up $0.91 during trading on Thursday, reaching $78.29. 157,118 shares of the stock were exchanged, compared to its average volume of 2,160,536. The company has a market capitalization of $73.05 billion, a price-to-earnings ratio of 24.80, a price-to-earnings-growth ratio of 2.27 and a beta of 0.96. The business’s 50-day moving average price is $79.76 and its 200 day moving average price is $82.76. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City Limited has a twelve month low of $68.92 and a twelve month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.31. The firm 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.62 EPS. As a group, equities analysts forecast that Canadian Pacific Kansas City Limited will post 3.11 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CP. Stifel Nicolaus raised their price objective on Canadian Pacific Kansas City from $82.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Barclays decreased their price target on Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 16th. Benchmark reaffirmed a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, April 25th. Susquehanna reissued a “neutral” rating and issued a $80.00 target price on shares of Canadian Pacific Kansas City in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group dropped their price target on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Twelve analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Canadian Pacific Kansas City 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.