Canadian Pacific Kansas City Limited (NYSE:CP) Stock Position Lowered by OLD National Bancorp IN

OLD National Bancorp IN lessened its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 30.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,861 shares of the transportation company’s stock after selling 1,729 shares during the period. OLD National Bancorp IN’s holdings in Canadian Pacific Kansas City were worth $271,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CP. Bernard Wealth Management Corp. bought a new stake in shares of Canadian Pacific Kansas City in the 4th quarter worth $31,000. Kestra Investment Management LLC acquired a new position in shares of Canadian Pacific Kansas City in the 4th quarter valued at $33,000. Stonebridge Financial Group LLC acquired a new position in shares of Canadian Pacific Kansas City in the 4th quarter valued at $34,000. Millstone Evans Group LLC acquired a new position in shares of Canadian Pacific Kansas City in the 4th quarter valued at $36,000. Finally, Curio Wealth LLC acquired a new position in shares of Canadian Pacific Kansas City in the 4th quarter valued at $39,000. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

NYSE:CP opened at $81.23 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53. The stock’s 50-day simple moving average is $76.26 and its 200 day simple moving average is $75.70. The company has a market cap of $75.58 billion, a P/E ratio of 28.01, a P/E/G ratio of 2.00 and a beta of 1.10. Canadian Pacific Kansas City Limited has a 52-week low of $66.49 and a 52-week high of $87.72.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, April 30th. The transportation company reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.56 billion. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 25.51%. Canadian Pacific Kansas City’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 earnings per share. As a group, sell-side analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.1644 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, June 27th. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.13. Canadian Pacific Kansas City’s payout ratio is currently 22.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Evercore ISI reduced their price objective on Canadian Pacific Kansas City from $89.00 to $88.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Stifel Nicolaus reduced their price objective on Canadian Pacific Kansas City from $85.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Argus set a $90.00 price objective on Canadian Pacific Kansas City in a research note on Wednesday, March 26th. Citigroup reduced their price objective on Canadian Pacific Kansas City from $91.00 to $84.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Barclays reduced their price objective on Canadian Pacific Kansas City from $91.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.66.

About Canadian Pacific Kansas City

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.