Clearstead Trust LLC Purchases New Stake in Canadian Pacific Kansas City Limited (NYSE:CP)

Clearstead Trust LLC acquired a new position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,237 shares of the transportation company’s stock, valued at approximately $467,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Commonwealth Equity Services LLC grew its position in Canadian Pacific Kansas City by 0.3% during the third quarter. Commonwealth Equity Services LLC now owns 51,089 shares of the transportation company’s stock valued at $3,802,000 after purchasing an additional 148 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in Canadian Pacific Kansas City by 7.7% in the third quarter. Stratos Wealth Partners LTD. now owns 11,009 shares of the transportation company’s stock valued at $819,000 after purchasing an additional 785 shares in the last quarter. Bank of New York Mellon Corp increased its position in Canadian Pacific Kansas City by 3.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,290,339 shares of the transportation company’s stock worth $96,014,000 after purchasing an additional 38,061 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of Canadian Pacific Kansas City by 1.5% during the 3rd quarter. Brown Advisory Inc. now owns 15,257 shares of the transportation company’s stock worth $1,135,000 after purchasing an additional 229 shares in the last quarter. Finally, Veracity Capital LLC acquired a new stake in shares of Canadian Pacific Kansas City during the 3rd quarter valued at about $215,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CP shares. StockNews.com upgraded Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Susquehanna reduced their price objective on shares of Canadian Pacific Kansas City from $84.00 to $80.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Evercore decreased their price objective on shares of Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Bank of America cut their target price on Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Barclays upped their price target on Canadian Pacific Kansas City from $90.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Twelve equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.42.

Canadian Pacific Kansas City Stock Performance

NYSE:CP traded up $0.17 during trading hours on Friday, hitting $79.73. 2,008,908 shares of the company traded hands, compared to its average volume of 2,302,688. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $74.36 billion, a price-to-earnings ratio of 25.55, a P/E/G ratio of 2.25 and a beta of 0.96. The firm has a 50-day moving average of $86.39 and a 200 day moving average of $80.03. Canadian Pacific Kansas City Limited has a twelve month low of $68.92 and a twelve month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.48%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.59 billion. On average, analysts forecast that Canadian Pacific Kansas City Limited will post 3.15 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be given a $0.141 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.71%. Canadian Pacific Kansas City’s dividend payout ratio is currently 17.95%.

Canadian Pacific Kansas City 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.