OLD National Bancorp IN Acquires 293 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

OLD National Bancorp IN lifted its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 3.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,878 shares of the transportation company’s stock after acquiring an additional 293 shares during the quarter. OLD National Bancorp IN’s holdings in Canadian Pacific Kansas City were worth $674,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Grove Bank & Trust boosted its position in Canadian Pacific Kansas City by 56.0% during the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock worth $31,000 after purchasing an additional 130 shares during the period. LRI Investments LLC acquired a new position in Canadian Pacific Kansas City in the 1st quarter valued at about $32,000. Chris Bulman Inc bought a new position in Canadian Pacific Kansas City in the 2nd quarter valued at about $35,000. Asset Dedication LLC acquired a new stake in Canadian Pacific Kansas City during the third quarter worth approximately $38,000. Finally, ORG Partners LLC bought a new stake in shares of Canadian Pacific Kansas City during the second quarter worth approximately $39,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on CP shares. Scotiabank raised Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, July 10th. Jefferies Financial Group dropped their target price on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Stifel Nicolaus decreased their price target on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Friday, October 11th. Sanford C. Bernstein dropped their price objective on shares of Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating for the company in a research note on Wednesday, October 9th. Finally, Citigroup started coverage on shares of Canadian Pacific Kansas City in a research report on Wednesday, October 9th. They set a “buy” rating and a $97.00 target price on the stock. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and an average price target of $97.90.

Canadian Pacific Kansas City Stock Performance

NYSE:CP opened at $78.77 on Tuesday. Canadian Pacific Kansas City Limited has a twelve month low of $68.92 and a twelve month high of $91.58. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $73.50 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 2.21 and a beta of 0.96. The stock’s 50-day simple moving average is $82.86 and its 200 day simple moving average is $81.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.31. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. Canadian Pacific Kansas City’s revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 EPS. On average, analysts anticipate that Canadian Pacific Kansas City Limited will post 3.2 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.1373 per share. This represents a $0.55 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Friday, September 27th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 17.31%.

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.