Canadian Pacific Kansas City Limited (NYSE:CP) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC lowered its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 12.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,945 shares of the transportation company’s stock after selling 1,877 shares during the period. Apollon Wealth Management LLC’s holdings in Canadian Pacific Kansas City were worth $1,107,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CP. Grove Bank & Trust lifted its stake in Canadian Pacific Kansas City by 56.0% in the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock worth $31,000 after acquiring an additional 130 shares during the last quarter. LRI Investments LLC purchased a new position in Canadian Pacific Kansas City in the first quarter worth approximately $32,000. Addison Advisors LLC lifted its stake in Canadian Pacific Kansas City by 246.9% in the third quarter. Addison Advisors LLC now owns 392 shares of the transportation company’s stock worth $34,000 after acquiring an additional 279 shares during the last quarter. Chris Bulman Inc purchased a new position in Canadian Pacific Kansas City in the second quarter worth approximately $35,000. Finally, Asset Dedication LLC purchased a new stake in shares of Canadian Pacific Kansas City during the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CP. Susquehanna upgraded shares of Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and reduced their price objective for the stock from $94.00 to $92.00 in a research report on Thursday, October 24th. Evercore ISI boosted their price objective on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Bank of America reduced their price objective on shares of Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Citigroup reduced their price objective on shares of Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Barclays boosted their price objective on shares of 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. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $93.68.

Canadian Pacific Kansas City Stock Performance

Shares of CP opened at $75.87 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53. The stock has a market capitalization of $70.81 billion, a P/E ratio of 27.10, a P/E/G ratio of 2.28 and a beta of 0.98. The company’s fifty day moving average is $81.77 and its two-hundred day moving average is $80.70. Canadian Pacific Kansas City Limited has a 1 year low of $69.27 and a 1 year high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period last year, the company earned $0.69 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Canadian Pacific Kansas City Limited will post 3.06 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.74%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, December 27th. Canadian Pacific Kansas City’s dividend payout ratio is presently 19.64%.

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.