Kestra Advisory Services LLC lessened its stake in shares of Canadian Pacific Railway Limited (NYSE:CP – Get Rating) (TSE:CP) by 10.3% during the third quarter, Holdings Channel.com reports. The fund owned 22,644 shares of the transportation company’s stock after selling 2,611 shares during the period. Kestra Advisory Services LLC’s holdings in Canadian Pacific Railway were worth $1,511,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Hexagon Capital Partners LLC increased its stake in shares of Canadian Pacific Railway by 57.3% during the third quarter. Hexagon Capital Partners LLC now owns 453 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 165 shares during the period. Pacifica Partners Inc. boosted its holdings in Canadian Pacific Railway by 102.8% during the third quarter. Pacifica Partners Inc. now owns 515 shares of the transportation company’s stock worth $36,000 after buying an additional 261 shares in the last quarter. Private Trust Co. NA bought a new stake in Canadian Pacific Railway during the second quarter worth approximately $45,000. Eagle Bay Advisors LLC bought a new stake in Canadian Pacific Railway during the second quarter worth approximately $45,000. Finally, CX Institutional bought a new stake in Canadian Pacific Railway during the second quarter worth approximately $45,000. Institutional investors and hedge funds own 72.31% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Canadian Pacific Railway from a “hold” rating to a “buy” rating and raised their target price for the stock from $80.00 to $98.00 in a report on Monday, November 28th. CIBC raised their target price on shares of Canadian Pacific Railway from C$120.00 to C$130.00 in a report on Wednesday, December 14th. National Bank Financial raised their target price on shares of Canadian Pacific Railway from C$105.00 to C$106.00 in a report on Friday, December 16th. Scotiabank raised their price objective on shares of Canadian Pacific Railway from C$100.00 to C$102.00 in a research note on Thursday, October 27th. Finally, Stifel Nicolaus decreased their price objective on shares of Canadian Pacific Railway from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Monday, October 17th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.20.
Canadian Pacific Railway Trading Up 0.6 %
Canadian Pacific Railway (NYSE:CP – Get Rating) (TSE:CP) last issued its earnings results on Wednesday, October 26th. The transportation company reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.69 billion. Canadian Pacific Railway had a net margin of 33.05% and a return on equity of 8.77%. On average, equities analysts expect that Canadian Pacific Railway Limited will post 2.75 EPS for the current fiscal year.
Canadian Pacific Railway Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 30th. Stockholders of record on Friday, December 30th will be issued a dividend of $0.137 per share. The ex-dividend date is Thursday, December 29th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 0.69%. Canadian Pacific Railway’s dividend payout ratio is currently 22.67%.
Canadian Pacific Railway Profile
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.
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