Atlantic Union Bankshares Corp Sells 3,436 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Atlantic Union Bankshares Corp reduced its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 12.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,492 shares of the transportation company’s stock after selling 3,436 shares during the period. Atlantic Union Bankshares Corp’s holdings in Canadian Pacific Kansas City were worth $2,071,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Sands Capital Management LLC acquired a new stake in Canadian Pacific Kansas City during the 3rd quarter worth approximately $31,000. Anchor Investment Management LLC bought a new position in Canadian Pacific Kansas City during the 4th quarter worth approximately $40,000. Independence Bank of Kentucky bought a new position in Canadian Pacific Kansas City during the 4th quarter worth approximately $43,000. McGlone Suttner Wealth Management Inc. bought a new position in Canadian Pacific Kansas City during the 4th quarter worth approximately $45,000. Finally, Partnership Wealth Management LLC bought a new position in Canadian Pacific Kansas City during the 4th quarter worth approximately $52,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Price Performance

CP opened at $78.73 on Friday. The firm’s fifty day moving average price is $79.74 and its two-hundred day moving average price is $82.10. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.49 and a quick ratio of 0.43. The company has a market capitalization of $73.45 billion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 2.25 and a beta of 0.97. Canadian Pacific Kansas City Limited has a 1 year low of $68.92 and a 1 year high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). The company 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, analysts anticipate that Canadian Pacific Kansas City Limited will post 3.14 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be issued a $0.141 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, June 28th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 17.95%.

Analyst Ratings Changes

CP has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on shares of Canadian Pacific Kansas City in a research note on Monday, April 8th. They issued a “buy” rating and a $105.00 price objective for the company. Evercore ISI lowered their price objective on shares of Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Raymond James lifted their price objective on shares of Canadian Pacific Kansas City from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Barclays lifted their price objective on shares of Canadian Pacific Kansas City from $90.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, Stifel Nicolaus decreased their price target on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $96.32.

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.