IFP Advisors Inc Sells 846 Shares of Canadian Pacific Kansas City Limited $CP

IFP Advisors Inc trimmed its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 9.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,606 shares of the transportation company’s stock after selling 846 shares during the quarter. IFP Advisors Inc’s holdings in Canadian Pacific Kansas City were worth $682,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in shares of Canadian Pacific Kansas City by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 1,065,476 shares of the transportation company’s stock worth $74,807,000 after buying an additional 31,508 shares during the period. Concurrent Investment Advisors LLC raised its holdings in shares of Canadian Pacific Kansas City by 70.0% in the first quarter. Concurrent Investment Advisors LLC now owns 5,990 shares of the transportation company’s stock worth $421,000 after buying an additional 2,467 shares during the period. CX Institutional purchased a new stake in shares of Canadian Pacific Kansas City in the first quarter worth approximately $61,000. Vanderbilt University raised its holdings in shares of Canadian Pacific Kansas City by 10.3% in the second quarter. Vanderbilt University now owns 75,452 shares of the transportation company’s stock worth $5,982,000 after buying an additional 7,050 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Canadian Pacific Kansas City by 28.8% in the first quarter. Janney Montgomery Scott LLC now owns 101,211 shares of the transportation company’s stock worth $7,106,000 after buying an additional 22,606 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Scotiabank reiterated an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 10th. Wall Street Zen downgraded Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Stephens raised their price objective on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Susquehanna reduced their price objective on Canadian Pacific Kansas City from $91.00 to $88.00 and set a “positive” rating on the stock in a report on Thursday, September 25th. Finally, Barclays set a $90.00 price objective on Canadian Pacific Kansas City and gave the stock an “overweight” rating in a report on Thursday, October 2nd. One equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.38.

Canadian Pacific Kansas City Trading Up 1.6%

CP opened at $76.11 on Tuesday. The stock’s fifty day moving average is $75.38 and its two-hundred day moving average is $76.58. The company has a market capitalization of $69.02 billion, a P/E ratio of 23.71, a PEG ratio of 2.11 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 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 results on Wednesday, July 30th. The transportation company reported $0.81 earnings per share (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 company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the prior year, the business posted $1.05 earnings per share. The company’s revenue was up 2.7% compared to the same quarter last year. Analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be issued a $0.1651 dividend. The ex-dividend date is Friday, September 26th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.16. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 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.