Canadian Pacific Kansas City Limited $CP Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management lessened its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 23.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,806 shares of the transportation company’s stock after selling 2,037 shares during the quarter. Ritholtz Wealth Management’s holdings in Canadian Pacific Kansas City were worth $540,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CP. Invesco Ltd. lifted its stake in shares of Canadian Pacific Kansas City by 59.5% during the first quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company’s stock worth $1,192,471,000 after purchasing an additional 6,337,312 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Canadian Pacific Kansas City by 70.4% during the first quarter. Goldman Sachs Group Inc. now owns 9,299,753 shares of the transportation company’s stock worth $652,936,000 after purchasing an additional 3,842,866 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Canadian Pacific Kansas City during the first quarter worth about $126,928,000. Causeway Capital Management LLC lifted its stake in shares of Canadian Pacific Kansas City by 11.5% during the first quarter. Causeway Capital Management LLC now owns 17,208,788 shares of the transportation company’s stock worth $1,207,605,000 after purchasing an additional 1,778,984 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Canadian Pacific Kansas City by 44.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,950,353 shares of the transportation company’s stock worth $351,723,000 after acquiring an additional 1,516,684 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CP. Susquehanna cut their price target on Canadian Pacific Kansas City from $91.00 to $88.00 and set a “positive” rating on the stock in a research note on Thursday, September 25th. Stephens boosted their price target on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. National Bank Financial upgraded Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 30th. Scotiabank reiterated an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 10th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Canadian Pacific Kansas City in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.38.

Canadian Pacific Kansas City Trading Up 1.5%

Shares of NYSE CP opened at $76.61 on Monday. The stock’s 50 day moving average price is $75.44 and its two-hundred day moving average price is $76.72. Canadian Pacific Kansas City Limited has a 52-week low of $66.49 and a 52-week high of $83.65. The stock has a market capitalization of $69.47 billion, a P/E ratio of 23.87, a PEG ratio of 2.16 and a beta of 1.08. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the previous year, the company earned $1.05 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.1651 per share. The ex-dividend date is Friday, September 26th. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 0.9%. Canadian Pacific Kansas City’s payout ratio is currently 20.56%.

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.