Miracle Mile Advisors LLC Sells 715 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Miracle Mile Advisors LLC decreased its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 5.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,166 shares of the transportation company’s stock after selling 715 shares during the period. Miracle Mile Advisors LLC’s holdings in Canadian Pacific Kansas City were worth $924,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new position in Canadian Pacific Kansas City during the fourth quarter valued at approximately $31,000. Kestra Investment Management LLC purchased a new stake in shares of Canadian Pacific Kansas City during the 4th quarter worth approximately $33,000. Stonebridge Financial Group LLC purchased a new stake in shares of Canadian Pacific Kansas City during the 4th quarter worth approximately $34,000. Millstone Evans Group LLC bought a new position in shares of Canadian Pacific Kansas City during the 4th quarter valued at approximately $36,000. Finally, Curio Wealth LLC purchased a new position in shares of Canadian Pacific Kansas City in the fourth quarter valued at $39,000. 72.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $91.00 price target on shares of Canadian Pacific Kansas City in a research note on Monday, June 2nd. Evercore ISI reduced their target price on shares of Canadian Pacific Kansas City from $89.00 to $88.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Scotiabank restated an “outperform” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, May 1st. Bank of America increased their price target on shares of Canadian Pacific Kansas City from $82.00 to $90.00 and gave the company a “buy” rating in a report on Friday, May 16th. Finally, Citigroup reduced their price objective on Canadian Pacific Kansas City from $91.00 to $84.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.66.

Canadian Pacific Kansas City Stock Down 0.3%

Shares of NYSE CP opened at $81.67 on Tuesday. Canadian Pacific Kansas City Limited has a 1 year low of $66.49 and a 1 year high of $87.72. The firm has a 50-day simple moving average of $76.04 and a two-hundred day simple moving average of $75.66. The company has a market cap of $75.99 billion, a P/E ratio of 28.16, a PEG ratio of 2.00 and a beta of 1.10. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.53 and a quick ratio of 0.46.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Wednesday, April 30th. The transportation company reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 25.51%. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the business posted $0.93 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. Research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be given a dividend of $0.1644 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.81%. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, June 27th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 22.30%.

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.