State Street Corp Sells 37,773 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

State Street Corp lowered its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 5.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 684,270 shares of the transportation company’s stock after selling 37,773 shares during the quarter. State Street Corp owned about 0.07% of Canadian Pacific Kansas City worth $58,628,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Grove Bank & Trust increased its holdings in Canadian Pacific Kansas City by 56.0% in the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 130 shares during the last quarter. Addison Advisors LLC raised its stake in shares of Canadian Pacific Kansas City by 246.9% during the 3rd quarter. Addison Advisors LLC now owns 392 shares of the transportation company’s stock worth $34,000 after purchasing an additional 279 shares in the last quarter. FSA Wealth Management LLC bought a new position in shares of Canadian Pacific Kansas City in the 3rd quarter valued at about $34,000. Chris Bulman Inc acquired a new stake in shares of Canadian Pacific Kansas City in the second quarter valued at approximately $35,000. Finally, Asset Dedication LLC bought a new position in shares of Canadian Pacific Kansas City in the third quarter valued at about $38,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

NYSE CP opened at $73.01 on Thursday. Canadian Pacific Kansas City Limited has a 1 year low of $72.29 and a 1 year high of $91.58. The company has a market cap of $68.15 billion, a P/E ratio of 26.08, a P/E/G ratio of 2.26 and a beta of 0.96. The company has a fifty day simple moving average of $77.05 and a 200 day simple moving average of $79.80. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the previous year, the business posted $0.69 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Canadian Pacific Kansas City Limited will post 3.05 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.77%. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, December 27th. Canadian Pacific Kansas City’s dividend payout ratio is presently 20.00%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CP. Susquehanna raised shares of Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and lowered their price target for the stock from $94.00 to $92.00 in a research report on Thursday, October 24th. Stifel Nicolaus dropped their price target on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Friday, October 11th. Citigroup cut their target price on shares of Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Benchmark reiterated a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 24th. Finally, Stephens lowered their target price on shares of Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and a consensus target price of $94.88.

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.