Raymond James & Associates lifted its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP – Free Report) (TSE:CP) by 5.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 767,465 shares of the transportation company’s stock after purchasing an additional 38,575 shares during the quarter. Raymond James & Associates owned about 0.08% of Canadian Pacific Kansas City worth $67,667,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Sands Capital Management LLC acquired a new position in Canadian Pacific Kansas City during the third quarter worth approximately $31,000. Anchor Investment Management LLC acquired a new stake in shares of Canadian Pacific Kansas City during the 4th quarter worth $40,000. Independence Bank of Kentucky purchased a new position in shares of Canadian Pacific Kansas City in the 4th quarter worth $43,000. McGlone Suttner Wealth Management Inc. acquired a new position in Canadian Pacific Kansas City in the fourth quarter valued at $45,000. Finally, Partnership Wealth Management LLC purchased a new stake in Canadian Pacific Kansas City during the fourth quarter valued at about $52,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.
Canadian Pacific Kansas City Price Performance
CP traded up $0.17 on Friday, reaching $79.73. The company had a trading volume of 2,008,908 shares, compared to its average volume of 2,302,688. Canadian Pacific Kansas City Limited has a one year low of $68.92 and a one year high of $91.58. The company has a market capitalization of $74.36 billion, a P/E ratio of 25.55, a PEG ratio of 2.25 and a beta of 0.96. The company has a fifty day moving average of $86.39 and a 200-day moving average of $80.03. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 0.43.
Canadian Pacific Kansas City Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be paid a dividend of $0.141 per share. This represents a $0.56 annualized dividend and a yield of 0.71%. The ex-dividend date is Friday, June 28th. Canadian Pacific Kansas City’s dividend payout ratio is presently 17.95%.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Canadian Pacific Kansas City in a report on Monday, April 8th. They set a “buy” rating and a $105.00 target price on the stock. Benchmark reiterated a “hold” rating on shares of Canadian Pacific Kansas City in a report on Thursday, April 25th. Susquehanna reduced their price target on Canadian Pacific Kansas City from $84.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Raymond James lifted their price objective on shares of Canadian Pacific Kansas City from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Finally, TD Securities downgraded shares of Canadian Pacific Kansas City from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Twelve research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.42.
Check Out Our Latest Report on Canadian Pacific Kansas City
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.
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