Granite Group Advisors LLC Sells 1,233 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Granite Group Advisors LLC cut its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 23.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,056 shares of the transportation company’s stock after selling 1,233 shares during the quarter. Granite Group Advisors LLC’s holdings in Canadian Pacific Kansas City were worth $347,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Canadian Pacific Kansas City by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 34,926,548 shares of the transportation company’s stock worth $3,079,474,000 after purchasing an additional 588,701 shares during the period. TD Asset Management Inc grew its stake in shares of Canadian Pacific Kansas City by 2.5% during the first quarter. TD Asset Management Inc now owns 21,703,229 shares of the transportation company’s stock valued at $1,915,196,000 after buying an additional 532,303 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Canadian Pacific Kansas City by 2.8% in the second quarter. Bank of Montreal Can now owns 19,932,768 shares of the transportation company’s stock worth $1,580,556,000 after buying an additional 533,792 shares during the period. 1832 Asset Management L.P. lifted its stake in shares of Canadian Pacific Kansas City by 5.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock valued at $1,088,155,000 after acquiring an additional 723,188 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Canadian Pacific Kansas City by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,568,212 shares of the transportation company’s stock valued at $909,721,000 after acquiring an additional 216,062 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CP has been the topic of a number of analyst reports. Bank of America decreased their price target on Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Jefferies Financial Group dropped their price target on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Evercore ISI boosted their price objective on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Citigroup increased their target price on shares of Canadian Pacific Kansas City from $97.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Benchmark restated a “hold” rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 24th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $94.15.

Canadian Pacific Kansas City Stock Down 0.2 %

CP stock traded down $0.14 during midday trading on Friday, hitting $78.67. The stock had a trading volume of 208,566 shares, compared to its average volume of 2,127,054. The business has a 50-day moving average of $82.36 and a two-hundred day moving average of $80.94. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.53 and a quick ratio of 0.46. The firm has a market cap of $73.43 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 2.32 and a beta of 0.98. Canadian Pacific Kansas City Limited has a 52-week low of $69.08 and a 52-week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 earnings per share. As a group, equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.06 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.14 per share. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, December 27th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.71%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 19.64%.

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.