Cibc World Market Inc. Decreases Stake in Canadian Pacific Kansas City Limited $CP

Cibc World Market Inc. cut its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 2.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,915,719 shares of the transportation company’s stock after selling 198,211 shares during the period. Canadian Pacific Kansas City comprises about 0.9% of Cibc World Market Inc.’s investment portfolio, making the stock its 21st biggest holding. Cibc World Market Inc. owned approximately 0.77% of Canadian Pacific Kansas City worth $514,953,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Twin Peaks Wealth Advisors LLC purchased a new position in Canadian Pacific Kansas City in the second quarter valued at about $27,000. Caldwell Trust Co acquired a new position in shares of Canadian Pacific Kansas City in the 3rd quarter valued at approximately $30,000. Acadian Asset Management LLC purchased a new position in shares of Canadian Pacific Kansas City during the 1st quarter valued at approximately $35,000. Cornerstone Planning Group LLC grew its position in shares of Canadian Pacific Kansas City by 205.5% during the third quarter. Cornerstone Planning Group LLC now owns 498 shares of the transportation company’s stock worth $36,000 after buying an additional 335 shares in the last quarter. Finally, SJS Investment Consulting Inc. bought a new stake in shares of Canadian Pacific Kansas City in the third quarter worth $39,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on CP shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, October 30th. Scotiabank restated an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Wednesday, January 21st. Morgan Stanley raised shares of Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 8th. Evercore lowered their price objective on Canadian Pacific Kansas City from $87.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, January 29th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $124.00 price objective (down previously from $127.00) on shares of Canadian Pacific Kansas City in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $92.00.

Canadian Pacific Kansas City Price Performance

Shares of NYSE:CP opened at $83.08 on Wednesday. The company has a market cap of $74.57 billion, a PE ratio of 25.72, a P/E/G ratio of 1.71 and a beta of 1.10. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $83.65. The firm has a 50-day simple moving average of $74.17 and a 200 day simple moving average of $74.20. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 0.46.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.04). Canadian Pacific Kansas City had a return on equity of 8.88% and a net margin of 27.49%.The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the prior year, the business earned $1.29 EPS. The business’s revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 27th. Investors of record on Friday, March 27th will be issued a $0.228 dividend. The ex-dividend date of this dividend is Friday, March 27th. This represents a $0.91 annualized dividend and a dividend yield of 1.1%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 20.43%.

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.