Ballentine Partners LLC Reduces Stock Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Ballentine Partners LLC decreased its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 26.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,937 shares of the transportation company’s stock after selling 1,805 shares during the quarter. Ballentine Partners LLC’s holdings in Canadian Pacific Kansas City were worth $435,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CP. Norges Bank purchased a new stake in shares of Canadian Pacific Kansas City in the fourth quarter worth about $979,890,000. TD Asset Management Inc boosted its stake in shares of Canadian Pacific Kansas City by 47.7% in the fourth quarter. TD Asset Management Inc now owns 21,170,926 shares of the transportation company’s stock worth $1,682,256,000 after buying an additional 6,835,271 shares during the last quarter. Legal & General Group Plc purchased a new position in Canadian Pacific Kansas City during the third quarter worth approximately $481,016,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Canadian Pacific Kansas City by 757.9% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,303,549 shares of the transportation company’s stock worth $342,191,000 after purchasing an additional 3,801,910 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in Canadian Pacific Kansas City by 1,122.4% during the third quarter. Toronto Dominion Bank now owns 3,398,403 shares of the transportation company’s stock worth $252,875,000 after purchasing an additional 3,120,385 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on CP shares. Evercore lowered their price target on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company started coverage on Canadian Pacific Kansas City in a research report on Friday, June 7th. They set an “overweight” rating and a $90.00 price target on the stock. Scotiabank reiterated a “sector perform” rating on shares of Canadian Pacific Kansas City in a research report on Monday, March 25th. Barclays increased their price target on Canadian Pacific Kansas City from $90.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, Raymond James increased their target price on Canadian Pacific Kansas City from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $96.32.

Canadian Pacific Kansas City Trading Up 1.4 %

Shares of Canadian Pacific Kansas City stock opened at $79.77 on Tuesday. The firm has a market capitalization of $74.41 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 2.24 and a beta of 0.97. Canadian Pacific Kansas City Limited has a fifty-two week low of $68.92 and a fifty-two week high of $91.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.43 and a current ratio of 0.49. The stock has a 50 day moving average of $80.14 and a 200 day moving average of $82.06.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.01). The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Canadian Pacific Kansas City had a return on equity of 8.48% and a net margin of 28.27%. As a group, research analysts predict that Canadian Pacific Kansas City Limited will post 3.14 earnings per share for the current year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, June 28th will be given a dividend of $0.141 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.56 annualized dividend and a dividend yield of 0.71%. Canadian Pacific Kansas City’s dividend payout ratio is currently 17.95%.

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.