Forge First Asset Management Inc. cut its position in Canadian Pacific Kansas City Limited (NYSE:CP – Free Report) (TSE:CP) by 72.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,800 shares of the transportation company’s stock after selling 322,800 shares during the quarter. Canadian Pacific Kansas City accounts for about 4.9% of Forge First Asset Management Inc.’s portfolio, making the stock its 7th largest holding. Forge First Asset Management Inc.’s holdings in Canadian Pacific Kansas City were worth $9,680,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Stonebridge Capital Advisors LLC grew its holdings in shares of Canadian Pacific Kansas City by 750.0% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 340 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 300 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Canadian Pacific Kansas City during the third quarter worth $29,000. Motco acquired a new position in shares of Canadian Pacific Kansas City during the first quarter worth $32,000. McIlrath & Eck LLC bought a new position in shares of Canadian Pacific Kansas City in the 2nd quarter valued at $32,000. Finally, Sittner & Nelson LLC acquired a new stake in shares of Canadian Pacific Kansas City during the 1st quarter valued at $38,000. Institutional investors own 67.93% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Barclays lowered their target price on Canadian Pacific Kansas City from $89.00 to $84.00 in a report on Wednesday, October 4th. Morgan Stanley began coverage on shares of Canadian Pacific Kansas City in a report on Tuesday, September 5th. They issued an “equal weight” rating and a $100.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of Canadian Pacific Kansas City from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 11th. Credit Suisse Group upped their price target on shares of Canadian Pacific Kansas City from $87.00 to $88.00 and gave the company a “neutral” rating in a research report on Wednesday, August 9th. Finally, Raymond James upgraded shares of Canadian Pacific Kansas City from a “market perform” rating to an “outperform” rating in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.22.
Canadian Pacific Kansas City Stock Up 0.1 %
NYSE CP traded up $0.10 on Thursday, hitting $71.65. 976,675 shares of the company were exchanged, compared to its average volume of 2,027,166. The company has a current ratio of 0.70, a quick ratio of 0.61 and a debt-to-equity ratio of 0.52. The stock has a fifty day moving average of $73.69 and a 200-day moving average of $77.61. The company has a market cap of $66.76 billion, a PE ratio of 21.48, a PEG ratio of 2.71 and a beta of 1.04. Canadian Pacific Kansas City Limited has a 12 month low of $68.92 and a 12 month high of $85.40.
Canadian Pacific Kansas City (NYSE:CP – Get Free Report) (TSE:CP) last announced its quarterly earnings results on Wednesday, October 25th. The transportation company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. Canadian Pacific Kansas City had a return on equity of 8.45% and a net margin of 37.10%. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.49 billion. As a group, analysts forecast that Canadian Pacific Kansas City Limited will post 2.81 earnings per share for the current year.
Canadian Pacific Kansas City Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.1384 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.55 annualized dividend and a yield of 0.77%. Canadian Pacific Kansas City’s payout ratio is 16.82%.
Canadian Pacific Kansas City Profile
Canadian Pacific Kansas City 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.
- Five stocks we like better than Canadian Pacific Kansas City
- Uptrend Stocks Explained: Learn How to Trade Using Uptrends
- Is it time to buy the dip in Walmart shares?
- How to Invest in the Best Canadian Stocks
- Unlocking AI investment opportunities in healthcare
- The Role Economic Reports Play in a Successful Investment Strategy
- New Disney investor propels stock to ranks of best S&P gainers
Want to see what other hedge funds are holding CP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Pacific Kansas City Limited (NYSE:CP – Free Report) (TSE:CP).
Receive News & Ratings for Canadian Pacific Kansas City Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Pacific Kansas City and related companies with MarketBeat.com's FREE daily email newsletter.