BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 691,883 Shares of Canadian Pacific Kansas City Limited $CP

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp has reduced its holdings in Canadian Pacific Kansas City Limited by 20.8%, selling 691,883 shares, resulting in a total of 2,632,355 shares owned.
• Canadian Pacific Kansas City has recently increased its quarterly dividend to $0.1651, with a yield of 0.9% and a payout ratio of 20.25%.
• The company's recent earnings report indicated a miss in EPS estimates ($0.81 vs. $0.82 expected), with revenues of $2.72 billion, below the estimated $2.76 billion.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 20.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,632,355 shares of the transportation company's stock after selling 691,883 shares during the quarter. Canadian Pacific Kansas City makes up approximately 1.1% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's investment portfolio, making the stock its 14th largest holding. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.28% of Canadian Pacific Kansas City worth $184,773,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC raised its holdings in Canadian Pacific Kansas City by 209.8% in the first quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company's stock worth $28,000 after purchasing an additional 256 shares in the last quarter. North Capital Inc. bought a new position in Canadian Pacific Kansas City in the first quarter worth about $27,000. Cheviot Value Management LLC bought a new position in Canadian Pacific Kansas City in the first quarter worth about $30,000. Bernard Wealth Management Corp. bought a new position in Canadian Pacific Kansas City in the fourth quarter worth about $31,000. Finally, Hexagon Capital Partners LLC raised its holdings in Canadian Pacific Kansas City by 49.5% in the first quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock worth $35,000 after purchasing an additional 164 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

Canadian Pacific Kansas City Price Performance

Shares of NYSE:CP opened at $74.8380 on Friday. Canadian Pacific Kansas City Limited has a twelve month low of $66.49 and a twelve month high of $87.72. The company's 50 day moving average is $77.77 and its 200 day moving average is $76.62. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45. The company has a market cap of $68.37 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 2.05 and a beta of 1.06.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued its quarterly earnings results on Wednesday, July 30th. The transportation company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.01). Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%.The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter last year, the company posted $1.05 EPS. Canadian Pacific Kansas City's quarterly revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, September 26th will be issued a $0.1651 dividend. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. The ex-dividend date is Friday, September 26th. This represents a $0.66 annualized dividend and a yield of 0.9%. Canadian Pacific Kansas City's dividend payout ratio is currently 20.25%.

Analysts Set New Price Targets

CP has been the subject of a number of recent research reports. Citigroup boosted their target price on shares of Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. The Goldman Sachs Group restated a "neutral" rating and set a $91.00 price objective on shares of Canadian Pacific Kansas City in a report on Monday, June 2nd. Scotiabank restated an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 10th. Evercore ISI cut their price objective on shares of Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, Stephens upped their price objective on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Canadian Pacific Kansas City currently has an average rating of "Moderate Buy" and an average price target of $92.30.

Canadian Pacific Kansas City Company 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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