Comerica Bank Increases Stock Position in Canadian Pacific Railway Limited (NYSE:CP)

Comerica Bank boosted its stake in shares of Canadian Pacific Railway Limited (NYSE:CP – Get Rating) (TSE:CP) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,235 shares of the transportation company’s stock after buying an additional 867 shares during the quarter. Comerica Bank’s holdings in Canadian Pacific Railway were worth $2,216,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its stake in Canadian Pacific Railway by 6.1% during the second quarter. Sequoia Financial Advisors LLC now owns 5,879 shares of the transportation company’s stock worth $411,000 after buying an additional 340 shares during the period. Brown Advisory Inc. lifted its position in shares of Canadian Pacific Railway by 4.0% during the second quarter. Brown Advisory Inc. now owns 12,100 shares of the transportation company’s stock worth $845,000 after purchasing an additional 465 shares in the last quarter. LPL Financial LLC lifted its position in shares of Canadian Pacific Railway by 2.4% during the second quarter. LPL Financial LLC now owns 284,786 shares of the transportation company’s stock worth $19,889,000 after purchasing an additional 6,747 shares in the last quarter. FDx Advisors Inc. lifted its position in shares of Canadian Pacific Railway by 2.2% during the second quarter. FDx Advisors Inc. now owns 37,600 shares of the transportation company’s stock worth $2,626,000 after purchasing an additional 794 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Canadian Pacific Railway by 7.3% during the second quarter. Assenagon Asset Management S.A. now owns 8,704 shares of the transportation company’s stock worth $607,000 after purchasing an additional 593 shares in the last quarter. Hedge funds and other institutional investors own 72.31% of the company’s stock.

Canadian Pacific Railway Stock Down 0.6 %

CP stock opened at $77.81 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.49 and a debt-to-equity ratio of 0.51. Canadian Pacific Railway Limited has a twelve month low of $65.17 and a twelve month high of $84.22. The company’s 50 day moving average is $77.84 and its two-hundred day moving average is $75.58. The stock has a market cap of $72.40 billion, a P/E ratio of 31.50, a PEG ratio of 2.27 and a beta of 1.01.

Canadian Pacific Railway (NYSE:CP – Get Rating) (TSE:CP) last released its quarterly earnings data on Wednesday, October 26th. The transportation company reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Canadian Pacific Railway had a net margin of 33.05% and a return on equity of 8.77%. Research analysts expect that Canadian Pacific Railway Limited will post 2.69 earnings per share for the current fiscal year.

Canadian Pacific Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 30th. Stockholders of record on Friday, December 30th will be given a dividend of $0.137 per share. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 0.70%. Canadian Pacific Railway’s dividend payout ratio (DPR) is presently 22.67%.

Analysts Set New Price Targets

Several analysts have recently issued reports on CP shares. Susquehanna Bancshares reduced their price target on shares of Canadian Pacific Railway from $84.00 to $79.00 and set a “positive” rating on the stock in a research report on Wednesday, September 28th. Stifel Nicolaus reduced their price target on shares of Canadian Pacific Railway from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Monday, October 17th. Credit Suisse Group reduced their target price on shares of Canadian Pacific Railway from $88.00 to $78.00 in a report on Tuesday, October 11th. Scotiabank raised their target price on shares of Canadian Pacific Railway from C$100.00 to C$102.00 in a report on Thursday, October 27th. Finally, Barclays raised their target price on shares of Canadian Pacific Railway from $81.00 to $86.00 and gave the company an “overweight” rating in a report on Wednesday, January 11th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.20.

Canadian Pacific Railway Profile

(Get Rating)

Canadian Pacific Railway Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; and merchandise freight, such as energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products.