Principal Financial Group Inc. Trims Stock Position in Canadian Pacific Kansas City Limited $CP

Principal Financial Group Inc. trimmed its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 87.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 75,000 shares of the transportation company’s stock after selling 536,344 shares during the period. Principal Financial Group Inc.’s holdings in Canadian Pacific Kansas City were worth $5,587,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Twin Peaks Wealth Advisors LLC acquired a new position in Canadian Pacific Kansas City in the second quarter valued at $27,000. Caldwell Trust Co acquired a new stake in shares of Canadian Pacific Kansas City in the 3rd quarter valued at about $30,000. Acadian Asset Management LLC purchased a new position in Canadian Pacific Kansas City during the 1st quarter worth approximately $35,000. SJS Investment Consulting Inc. acquired a new position in Canadian Pacific Kansas City during the third quarter worth approximately $39,000. Finally, Quent Capital LLC purchased a new stake in Canadian Pacific Kansas City in the third quarter valued at approximately $46,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Stock Performance

Shares of CP opened at $83.74 on Friday. The stock has a market capitalization of $75.16 billion, a P/E ratio of 25.92, a P/E/G ratio of 1.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.54 and a current ratio of 0.63. Canadian Pacific Kansas City Limited has a 1 year low of $66.49 and a 1 year high of $85.15. The company’s fifty day moving average is $74.77 and its two-hundred day moving average is $74.37.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Wednesday, January 28th. The transportation company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.04). The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Canadian Pacific Kansas City had a net margin of 27.49% and a return on equity of 8.88%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.29 EPS. On average, sell-side analysts predict that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 27th. Shareholders of record on Friday, March 27th will be given a $0.228 dividend. The ex-dividend date is Friday, March 27th. This represents a $0.91 annualized dividend and a yield of 1.1%. Canadian Pacific Kansas City’s dividend payout ratio is presently 20.43%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CP shares. Scotiabank restated an “outperform” rating on shares of Canadian Pacific Kansas City in a research report on Wednesday, January 21st. Royal Bank Of Canada reiterated an “outperform” rating and set a $124.00 price target (down previously from $127.00) on shares of Canadian Pacific Kansas City in a research note on Thursday, January 29th. Wall Street Zen downgraded shares of Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research report on Sunday. Morgan Stanley upgraded shares of Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 8th. Finally, Citigroup decreased their target price on shares of Canadian Pacific Kansas City from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.00.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.