Canadian Pacific Kansas City Limited (NYSE:CP) Shares Sold by Estabrook Capital Management

Estabrook Capital Management decreased its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,825 shares of the transportation company’s stock after selling 1,485 shares during the period. Canadian Pacific Kansas City comprises 1.2% of Estabrook Capital Management’s investment portfolio, making the stock its 26th biggest position. Estabrook Capital Management’s holdings in Canadian Pacific Kansas City were worth $7,623,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CP. Accretive Wealth Partners LLC boosted its position in Canadian Pacific Kansas City by 1.5% in the 4th quarter. Accretive Wealth Partners LLC now owns 9,530 shares of the transportation company’s stock valued at $753,000 after buying an additional 145 shares during the period. D.A. Davidson & CO. boosted its holdings in Canadian Pacific Kansas City by 7.2% in the fourth quarter. D.A. Davidson & CO. now owns 34,147 shares of the transportation company’s stock valued at $2,700,000 after purchasing an additional 2,306 shares during the period. Assetmark Inc. boosted its holdings in Canadian Pacific Kansas City by 16.4% in the fourth quarter. Assetmark Inc. now owns 23,761 shares of the transportation company’s stock valued at $1,879,000 after purchasing an additional 3,341 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in Canadian Pacific Kansas City by 4.3% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 19,792 shares of the transportation company’s stock worth $1,565,000 after purchasing an additional 809 shares in the last quarter. Finally, US Bancorp DE increased its holdings in Canadian Pacific Kansas City by 40.9% during the 4th quarter. US Bancorp DE now owns 184,709 shares of the transportation company’s stock worth $14,603,000 after purchasing an additional 53,597 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Scotiabank raised Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, July 10th. Wells Fargo & Company started coverage on shares of Canadian Pacific Kansas City in a research report on Friday, June 7th. They issued an “overweight” rating and a $90.00 price objective on the stock. Jefferies Financial Group reduced their price objective on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Susquehanna reiterated a “neutral” rating and set a $80.00 target price on shares of Canadian Pacific Kansas City in a research note on Wednesday, July 31st. Finally, Sanford C. Bernstein raised their price target on Canadian Pacific Kansas City from $88.50 to $89.06 and gave the company a “market perform” rating in a research note on Monday, July 8th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.36.

Canadian Pacific Kansas City Stock Performance

Shares of CP opened at $85.86 on Friday. The company’s 50 day simple moving average is $82.16 and its 200-day simple moving average is $82.53. Canadian Pacific Kansas City Limited has a 12-month low of $68.92 and a 12-month high of $91.58. The firm has a market cap of $80.11 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 2.45 and a beta of 0.96. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.42.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its 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. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same period in the prior year, the company earned $0.62 earnings per share. The business’s revenue was up 13.5% compared to the same quarter last year. As a group, equities analysts predict that Canadian Pacific Kansas City Limited will post 3.1 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be given a dividend of $0.1373 per share. The ex-dividend date is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a yield of 0.64%. Canadian Pacific Kansas City’s payout ratio is 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.