Allen Investment Management LLC Sells 21,443 Shares of Canadian Pacific Kansas City Limited $CP

Key Points

• Allen Investment Management cut its stake in Canadian Pacific Kansas City by 26.5% in the fourth quarter, selling 21,443 shares and leaving it with 59,348 shares worth about $4.37 million.
• Several other institutional investors remained heavily invested in the railroad, and institutions as a group own 72.20% of the company. Analysts currently have a consensus rating of “Moderate Buy” with an average price target of $96.50.
• Canadian Pacific Kansas City recently raised its quarterly dividend to $0.268 per share, while its latest earnings missed expectations slightly, with EPS of $0.76 versus $0.78 expected and revenue of $2.66 billion versus $2.70 billion expected.

Allen Investment Management LLC decreased its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 26.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,348 shares of the transportation company's stock after selling 21,443 shares during the period. Allen Investment Management LLC's holdings in Canadian Pacific Kansas City were worth $4,370,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Canadian Pacific Kansas City by 1.3% during the third quarter. Vanguard Group Inc. now owns 38,734,456 shares of the transportation company's stock valued at $2,884,826,000 after acquiring an additional 510,633 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Canadian Pacific Kansas City by 18.3% during the third quarter. Invesco Ltd. now owns 23,128,485 shares of the transportation company's stock worth $1,722,841,000 after buying an additional 3,585,030 shares during the period. Norges Bank acquired a new stake in shares of Canadian Pacific Kansas City during the fourth quarter worth $978,558,000. Geode Capital Management LLC grew its holdings in shares of Canadian Pacific Kansas City by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 8,821,358 shares of the transportation company's stock valued at $661,339,000 after buying an additional 461,724 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Canadian Pacific Kansas City by 1.8% during the fourth quarter. Legal & General Group Plc now owns 7,324,191 shares of the transportation company's stock valued at $539,819,000 after buying an additional 130,783 shares during the last quarter. Institutional investors own 72.20% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Barclays set a $99.00 price target on Canadian Pacific Kansas City and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Citigroup lifted their price target on Canadian Pacific Kansas City from $93.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Scotiabank cut Canadian Pacific Kansas City from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 9th. Royal Bank Of Canada lowered their price target on Canadian Pacific Kansas City from $128.00 to $127.00 and set an "outperform" rating for the company in a research report on Thursday, April 30th. Finally, ATB Cormark Capital Markets cut Canadian Pacific Kansas City from a "strong-buy" rating to a "moderate buy" rating in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.50.

Canadian Pacific Kansas City Price Performance

NYSE:CP opened at $88.69 on Tuesday. Canadian Pacific Kansas City Limited has a 12 month low of $68.42 and a 12 month high of $91.46. The stock has a 50 day moving average of $83.52 and a two-hundred day moving average of $79.02. The company has a current ratio of 0.67, a quick ratio of 0.57 and a debt-to-equity ratio of 0.46. The firm has a market cap of $78.68 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 1.91 and a beta of 1.09.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued its earnings results on Wednesday, April 29th. The transportation company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.02). The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.70 billion. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 27.20%.The company's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 earnings per share. On average, analysts expect that Canadian Pacific Kansas City Limited will post 3.76 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, July 27th. Investors of record on Friday, June 26th will be paid a dividend of $0.268 per share. The ex-dividend date is Friday, June 26th. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.23. This represents a $1.07 annualized dividend and a yield of 1.2%. Canadian Pacific Kansas City's dividend payout ratio (DPR) is presently 20.68%.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC's core business is freight transportation and related logistics services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.