Summit Trail Advisors LLC Cuts Stock Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Summit Trail Advisors LLC trimmed its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 20.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,265 shares of the transportation company’s stock after selling 5,223 shares during the period. Summit Trail Advisors LLC’s holdings in Canadian Pacific Kansas City were worth $1,599,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. LRI Investments LLC purchased a new stake in Canadian Pacific Kansas City during the first quarter valued at about $32,000. Chris Bulman Inc purchased a new stake in Canadian Pacific Kansas City during the second quarter valued at about $35,000. ORG Partners LLC purchased a new stake in Canadian Pacific Kansas City during the second quarter valued at about $39,000. Tobam purchased a new stake in Canadian Pacific Kansas City during the first quarter valued at about $51,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Canadian Pacific Kansas City during the second quarter valued at about $61,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Performance

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

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.31. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.58 billion. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 EPS. Sell-side analysts expect that Canadian Pacific Kansas City Limited will post 3.1 EPS 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, October 28th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.1373 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Pacific Kansas City’s payout ratio is presently 17.31%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of Canadian Pacific Kansas City from $82.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Wells Fargo & Company initiated coverage on shares of Canadian Pacific Kansas City in a report on Friday, June 7th. They set an “overweight” rating and a $90.00 target price for the company. Scotiabank upgraded shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, July 10th. Jefferies Financial Group dropped their target price on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Finally, Susquehanna reiterated a “neutral” rating and set a $80.00 target price on shares of Canadian Pacific Kansas City in a report on Wednesday, July 31st. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $96.36.

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.