Pinnacle Associates Ltd. Sells 10,802 Shares of Canadian Pacific Kansas City Limited $CP

Pinnacle Associates Ltd. lessened its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 4.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 242,981 shares of the transportation company’s stock after selling 10,802 shares during the period. Pinnacle Associates Ltd.’s holdings in Canadian Pacific Kansas City were worth $18,100,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Canadian Pacific Kansas City in the 2nd quarter worth about $1,012,065,000. JPMorgan Chase & Co. boosted its position in shares of Canadian Pacific Kansas City by 87.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,000,064 shares of the transportation company’s stock valued at $1,268,325,000 after purchasing an additional 7,454,810 shares in the last quarter. Fisher Asset Management LLC grew its stake in Canadian Pacific Kansas City by 281.0% during the second quarter. Fisher Asset Management LLC now owns 5,431,316 shares of the transportation company’s stock worth $430,540,000 after purchasing an additional 4,005,942 shares during the period. Franklin Resources Inc. increased its holdings in Canadian Pacific Kansas City by 31.3% in the second quarter. Franklin Resources Inc. now owns 11,611,625 shares of the transportation company’s stock worth $921,881,000 after purchasing an additional 2,765,424 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Canadian Pacific Kansas City by 15.1% in the second quarter. Invesco Ltd. now owns 19,543,455 shares of the transportation company’s stock worth $1,549,210,000 after purchasing an additional 2,559,104 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

Canadian Pacific Kansas City Price Performance

Shares of CP opened at $82.93 on Monday. The business’s fifty day moving average is $78.17 and its 200 day moving average is $75.53. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $89.42. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 0.43. The stock has a market cap of $74.47 billion, a P/E ratio of 25.67, a P/E/G ratio of 1.78 and a beta of 1.06.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings results on Wednesday, January 28th. The transportation company reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.04). Canadian Pacific Kansas City had a net margin of 27.49% and a return on equity of 8.91%. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter last year, the firm posted $1.29 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. Sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 27th. Investors of record on Friday, March 27th will be issued a dividend of $0.228 per share. The ex-dividend date is Friday, March 27th. This represents a $0.91 annualized dividend and a yield of 1.1%. Canadian Pacific Kansas City’s dividend payout ratio is 20.43%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CP. Citigroup lowered their price objective on shares of Canadian Pacific Kansas City from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Barclays set a $93.00 price target on shares of Canadian Pacific Kansas City in a report on Thursday, January 29th. Morgan Stanley upgraded shares of Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating in a report on Monday, December 8th. Scotiabank reissued an “outperform” rating on shares of Canadian Pacific Kansas City in a research report on Wednesday, January 21st. Finally, Wall Street Zen downgraded Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research note on Tuesday, March 3rd. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $92.00.

Canadian Pacific Kansas City Profile

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.