Cullen Frost Bankers Inc. Cuts Position in Canadian Pacific Kansas City Limited $CP

Cullen Frost Bankers Inc. trimmed its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 4.2% during the second quarter, Holdings Channel reports. The institutional investor owned 270,647 shares of the transportation company’s stock after selling 11,901 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Canadian Pacific Kansas City were worth $21,454,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. North Capital Inc. purchased a new stake in shares of Canadian Pacific Kansas City during the first quarter worth approximately $27,000. Cornerstone Planning Group LLC increased its stake in shares of Canadian Pacific Kansas City by 209.8% during the first quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company’s stock worth $28,000 after buying an additional 256 shares during the period. Cheviot Value Management LLC purchased a new stake in shares of Canadian Pacific Kansas City during the first quarter worth approximately $30,000. Hexagon Capital Partners LLC increased its stake in shares of Canadian Pacific Kansas City by 49.5% during the first quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company’s stock worth $35,000 after buying an additional 164 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of Canadian Pacific Kansas City during the first quarter worth approximately $35,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. National Bank Financial upgraded shares of Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 30th. Barclays set a $90.00 target price on shares of Canadian Pacific Kansas City and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Citigroup dropped their price target on shares of Canadian Pacific Kansas City from $90.00 to $88.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Wall Street Zen lowered shares of Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Canadian Pacific Kansas City in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $91.38.

Canadian Pacific Kansas City Stock Performance

Shares of Canadian Pacific Kansas City stock opened at $75.64 on Wednesday. The firm has a market capitalization of $68.59 billion, a P/E ratio of 23.56, a P/E/G ratio of 2.16 and a beta of 1.08. Canadian Pacific Kansas City Limited has a 52 week low of $66.49 and a 52 week high of $83.65. The firm’s 50 day moving average is $75.49 and its two-hundred day moving average is $76.76. 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 earnings results on Wednesday, July 30th. The transportation company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. Research analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, October 27th. Investors 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 represents a $0.66 dividend on an annualized basis and a yield of 0.9%. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.16. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 20.56%.

Canadian Pacific Kansas City Company 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.