AE Wealth Management LLC Makes New Investment in Canadian Pacific Kansas City Limited (NYSE:CP)

Key Points

• AE Wealth Management LLC acquired a new position in Canadian Pacific Kansas City Limited, purchasing 16,374 shares valued at approximately $1.15 million in the first quarter of 2023.
• Research analysts have set a consensus target price of $91.95 for Canadian Pacific Kansas City, with 11 buy ratings, 4 hold ratings, and 2 sell ratings on the stock.
• The company has recently increased its quarterly dividend to $0.1644 per share, up from the previous $0.13, reflecting a positive change in its dividend policy.

AE Wealth Management LLC purchased a new stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,374 shares of the transportation company's stock, valued at approximately $1,150,000.

Several other institutional investors have also modified their holdings of the stock. Wedbush Securities Inc. raised its holdings in shares of Canadian Pacific Kansas City by 20.5% in the first quarter. Wedbush Securities Inc. now owns 4,289 shares of the transportation company's stock worth $301,000 after buying an additional 731 shares during the period. Financial Partners Group Inc raised its holdings in shares of Canadian Pacific Kansas City by 0.3% in the first quarter. Financial Partners Group Inc now owns 49,334 shares of the transportation company's stock worth $3,464,000 after buying an additional 158 shares during the period. Y Intercept Hong Kong Ltd increased its holdings in Canadian Pacific Kansas City by 374.7% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 26,762 shares of the transportation company's stock worth $1,879,000 after purchasing an additional 21,124 shares during the period. HighPoint Advisor Group LLC increased its holdings in Canadian Pacific Kansas City by 2.1% during the 1st quarter. HighPoint Advisor Group LLC now owns 12,936 shares of the transportation company's stock worth $932,000 after purchasing an additional 264 shares during the period. Finally, Lindbrook Capital LLC increased its holdings in Canadian Pacific Kansas City by 6.3% during the 1st quarter. Lindbrook Capital LLC now owns 2,708 shares of the transportation company's stock worth $190,000 after purchasing an additional 161 shares during the period. 72.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Royal Bank Of Canada reduced their price objective on Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus lowered their price target on Canadian Pacific Kansas City from $85.00 to $79.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Scotiabank reissued an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 10th. Jefferies Financial Group cut their price objective on Canadian Pacific Kansas City from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Citigroup boosted their price objective on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $92.30.

Canadian Pacific Kansas City Stock Down 1.8%

Shares of NYSE CP traded down $1.38 during mid-day trading on Thursday, hitting $74.33. The company had a trading volume of 2,738,265 shares, compared to its average volume of 3,206,946. The company has a market capitalization of $68.23 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 2.13 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.81 and a quick ratio of 0.70. Canadian Pacific Kansas City Limited has a 1-year low of $66.49 and a 1-year high of $87.72. The business's 50-day simple moving average is $80.02 and its 200 day simple moving average is $76.93.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its earnings results on Wednesday, April 30th. The transportation company reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. Canadian Pacific Kansas City had a return on equity of 8.68% and a net margin of 25.99%. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the company posted $0.93 earnings per share. Canadian Pacific Kansas City's revenue for the quarter was up 8.0% compared to the same quarter last year. On average, analysts predict that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

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.