Pictet Asset Management Holding SA Reduces Stock Position in Canadian Pacific Kansas City Limited $CP

Pictet Asset Management Holding SA decreased its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 9.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 359,057 shares of the transportation company’s stock after selling 35,634 shares during the period. Pictet Asset Management Holding SA’s holdings in Canadian Pacific Kansas City were worth $28,165,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CP. Prosperity Bancshares Inc purchased a new position in Canadian Pacific Kansas City in the 4th quarter valued at approximately $26,000. Gilpin Wealth Management LLC purchased a new stake in Canadian Pacific Kansas City during the fourth quarter worth $29,000. McMillan Office Inc. purchased a new stake in Canadian Pacific Kansas City during the fourth quarter worth $31,000. Acadian Asset Management LLC acquired a new stake in Canadian Pacific Kansas City in the first quarter valued at $35,000. Finally, Wealth Watch Advisors INC acquired a new stake in Canadian Pacific Kansas City in the third quarter valued at $36,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CP shares. Royal Bank Of Canada restated an “outperform” rating on shares of Canadian Pacific Kansas City in a research report on Wednesday, June 24th. National Bank Financial raised shares of Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. Susquehanna restated a “positive” rating and set a $104.00 target price on shares of Canadian Pacific Kansas City in a report on Friday, June 5th. Canadian Imperial Bank of Commerce lifted their target price on shares of Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the stock an “outperformer” rating in a research report on Thursday, June 25th. Finally, Scotiabank downgraded shares of Canadian Pacific Kansas City from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.30.

Canadian Pacific Kansas City Trading Down 0.9%

Shares of CP opened at $85.90 on Thursday. Canadian Pacific Kansas City Limited has a fifty-two week low of $68.42 and a fifty-two week high of $91.52. The company has a market capitalization of $76.02 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The stock has a fifty day moving average of $87.07 and a two-hundred day moving average of $81.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.57 and a current ratio of 0.67.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.02). Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the prior year, the firm earned $1.06 EPS. Canadian Pacific Kansas City’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, analysts forecast that Canadian Pacific Kansas City Limited will post 3.76 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.268 per share. This represents a $1.07 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, June 26th. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. Canadian Pacific Kansas City’s payout ratio is currently 24.07%.

About Canadian Pacific Kansas City

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.