Granite Group Advisors LLC Cuts Stock Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Granite Group Advisors LLC cut its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 23.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,056 shares of the transportation company’s stock after selling 1,233 shares during the quarter. Granite Group Advisors LLC’s holdings in Canadian Pacific Kansas City were worth $347,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CP. Mirova US LLC purchased a new stake in Canadian Pacific Kansas City during the second quarter worth about $168,063,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Canadian Pacific Kansas City by 398.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,100,382 shares of the transportation company’s stock worth $165,419,000 after purchasing an additional 1,678,784 shares during the last quarter. Cantillon Capital Management LLC raised its holdings in shares of Canadian Pacific Kansas City by 49.1% in the 1st quarter. Cantillon Capital Management LLC now owns 3,567,692 shares of the transportation company’s stock worth $314,563,000 after purchasing an additional 1,174,200 shares during the period. Wulff Hansen & CO. lifted its stake in Canadian Pacific Kansas City by 8,261.4% in the second quarter. Wulff Hansen & CO. now owns 943,500 shares of the transportation company’s stock valued at $74,282,000 after purchasing an additional 932,216 shares during the last quarter. Finally, AGF Management Ltd. lifted its stake in Canadian Pacific Kansas City by 86.5% in the second quarter. AGF Management Ltd. now owns 1,586,609 shares of the transportation company’s stock valued at $125,094,000 after purchasing an additional 735,816 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Canadian Pacific Kansas City Price Performance

Shares of NYSE CP traded down $0.14 during midday trading on Friday, hitting $78.67. 208,566 shares of the company’s stock were exchanged, compared to its average volume of 2,127,054. The business’s fifty day moving average price is $82.36 and its two-hundred day moving average price is $80.94. The company has a market cap of $73.43 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 2.32 and a beta of 0.98. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City Limited has a 12-month low of $69.08 and a 12-month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. Canadian Pacific Kansas City’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS. As a group, research analysts forecast that Canadian Pacific Kansas City Limited will post 3.06 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a dividend of $0.14 per share. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, December 27th. This represents a $0.56 dividend on an annualized basis and a yield of 0.71%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 19.64%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CP shares. Sanford C. Bernstein decreased their target price on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating for the company in a research report on Wednesday, October 9th. Stephens decreased their price objective on Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Stifel Nicolaus dropped their price target on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Friday, October 11th. Barclays increased their target price on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Benchmark reiterated a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 24th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.15.

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.