Canadian Pacific Kansas City Limited $CP Shares Sold by Synovus Financial Corp

Key Points

• Synovus Financial Corp reduced its stake in Canadian Pacific Kansas City Limited by 77.6% during the first quarter, holding just 12,260 shares valued at $861,000.
• The company reported earnings per share of $0.81 for the last quarter, missing analysts' expectations by $0.01, with a revenue of $2.72 billion, below the consensus estimate of $2.76 billion.
• Canadian Pacific Kansas City announced an increase in its quarterly dividend to $0.1651 per share, representing a dividend yield of 0.9%, with the ex-dividend date set for September 26th.

Synovus Financial Corp decreased its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 77.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,260 shares of the transportation company's stock after selling 42,540 shares during the quarter. Synovus Financial Corp's holdings in Canadian Pacific Kansas City were worth $861,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital Insight Partners LLC grew its holdings in Canadian Pacific Kansas City by 0.4% in the 1st quarter. Capital Insight Partners LLC now owns 40,700 shares of the transportation company's stock valued at $2,858,000 after buying an additional 143 shares during the period. Davidson Trust Co. grew its holdings in Canadian Pacific Kansas City by 3.2% in the 1st quarter. Davidson Trust Co. now owns 4,660 shares of the transportation company's stock valued at $327,000 after buying an additional 144 shares during the period. Redmond Asset Management LLC grew its holdings in Canadian Pacific Kansas City by 0.5% in the 1st quarter. Redmond Asset Management LLC now owns 31,617 shares of the transportation company's stock valued at $2,220,000 after buying an additional 148 shares during the period. Tradewinds LLC. grew its holdings in Canadian Pacific Kansas City by 3.8% in the 1st quarter. Tradewinds LLC. now owns 4,326 shares of the transportation company's stock valued at $304,000 after buying an additional 157 shares during the period. Finally, Financial Partners Group Inc grew its holdings in Canadian Pacific Kansas City by 0.3% in the 1st quarter. Financial Partners Group Inc now owns 49,334 shares of the transportation company's stock valued at $3,464,000 after buying an additional 158 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on CP shares. The Goldman Sachs Group restated a "neutral" rating and issued a $91.00 price target on shares of Canadian Pacific Kansas City in a report on Monday, June 2nd. Barclays lifted their price target on Canadian Pacific Kansas City from $87.00 to $91.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Scotiabank restated an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 10th. Citigroup lifted their price target on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, Wall Street Zen upgraded Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a report on Saturday, August 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.30.

Canadian Pacific Kansas City Trading Down 0.1%

Shares of NYSE:CP traded down $0.04 during trading on Friday, reaching $76.23. 1,950,293 shares of the stock were exchanged, compared to its average volume of 3,255,982. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 0.93. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $87.72. The firm has a market cap of $69.64 billion, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 2.13 and a beta of 1.06. The firm's 50-day moving average price is $77.30 and its 200 day moving average price is $76.54.

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

Canadian Pacific Kansas City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, September 26th will be given a dividend of $0.1651 per share. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. The ex-dividend date of this dividend 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 presently 20.56%.

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.