Bleakley Financial Group LLC Reduces Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Bleakley Financial Group LLC cut its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,083 shares of the transportation company’s stock after selling 137 shares during the period. Bleakley Financial Group LLC’s holdings in Canadian Pacific Kansas City were worth $349,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CP. Mirova US LLC purchased a new stake in shares of Canadian Pacific Kansas City during the second quarter valued at $168,063,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Canadian Pacific Kansas City by 398.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,100,382 shares of the transportation company’s stock valued at $165,419,000 after buying an additional 1,678,784 shares during the last quarter. Cantillon Capital Management LLC boosted its position in shares of Canadian Pacific Kansas City by 49.1% during the first quarter. Cantillon Capital Management LLC now owns 3,567,692 shares of the transportation company’s stock valued at $314,563,000 after buying an additional 1,174,200 shares during the last quarter. Wulff Hansen & CO. boosted its position in shares of Canadian Pacific Kansas City by 8,261.4% during the second quarter. Wulff Hansen & CO. now owns 943,500 shares of the transportation company’s stock valued at $74,282,000 after buying an additional 932,216 shares during the last quarter. Finally, AGF Management Ltd. boosted its position in shares of Canadian Pacific Kansas City by 86.5% during the second quarter. AGF Management Ltd. now owns 1,586,609 shares of the transportation company’s stock valued at $125,094,000 after buying an additional 735,816 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Up 1.1 %

Shares of CP opened at $79.64 on Wednesday. The business’s 50 day moving average is $82.91 and its 200 day moving average is $81.52. The company has a market capitalization of $74.31 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 2.21 and a beta of 0.96. Canadian Pacific Kansas City Limited has a 12-month low of $68.92 and a 12-month high of $91.58. 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 released its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.31. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the previous year, the company posted $0.62 EPS. The company’s revenue was up 13.5% compared to the same quarter last year. Research analysts expect that Canadian Pacific Kansas City Limited will post 3.2 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be paid a $0.1373 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Friday, September 27th. Canadian Pacific Kansas City’s payout ratio is 17.31%.

Analysts Set New Price Targets

CP has been the topic of several recent analyst reports. Susquehanna increased their price objective on Canadian Pacific Kansas City from $80.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Barclays raised their target price on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Evercore ISI raised their target price on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Scotiabank raised Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group dropped their target price on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and an average price target of $97.90.

About Canadian Pacific Kansas City

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.