Wesbanco Bank Inc. decreased its position in Canadian Pacific Kansas City Limited (NYSE:CP – Free Report) (TSE:CP) by 20.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,808 shares of the transportation company’s stock after selling 2,033 shares during the quarter. Wesbanco Bank Inc.’s holdings in Canadian Pacific Kansas City were worth $615,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in Canadian Pacific Kansas City in the first quarter valued at $32,000. Tobam acquired a new position in shares of Canadian Pacific Kansas City during the first quarter worth $51,000. Rational Advisors LLC acquired a new position in shares of Canadian Pacific Kansas City during the 1st quarter worth about $52,000. Partnership Wealth Management LLC purchased a new position in shares of Canadian Pacific Kansas City in the 4th quarter valued at about $52,000. Finally, Northwest Investment Counselors LLC purchased a new position in Canadian Pacific Kansas City in the first quarter valued at approximately $76,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.
Canadian Pacific Kansas City Stock Down 1.1 %
CP stock opened at $77.52 on Friday. Canadian Pacific Kansas City Limited has a 12-month low of $68.92 and a 12-month high of $91.58. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 0.42. The company has a market cap of $72.33 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 2.27 and a beta of 0.96. The company has a 50 day moving average of $79.77 and a two-hundred day moving average of $82.73.
Canadian Pacific Kansas City Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be paid a $0.1373 dividend. This represents a $0.55 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Friday, September 27th. Canadian Pacific Kansas City’s payout ratio is presently 17.31%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on CP shares. Bank of America lowered their price objective on shares of Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Evercore decreased their price target on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Susquehanna reaffirmed a “neutral” rating and set a $80.00 price target on shares of Canadian Pacific Kansas City in a research note on Wednesday, July 31st. Barclays dropped their price objective on Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, July 16th. Finally, Evercore ISI cut their price objective on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Twelve analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and a consensus price target of $95.70.
View Our Latest Research Report on Canadian Pacific Kansas City
About Canadian Pacific Kansas City
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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