Canadian Pacific Kansas City Limited $CP Shares Sold by Cidel Asset Management Inc.

Key Points

• Cidel Asset Management cut its Canadian Pacific Kansas City stake by 35.8% in the second quarter, selling 142,787 shares and retaining 255,538 shares valued at approximately $22.1 million.
• Other institutional investors increased their positions, and institutional ownership reached 72.2%. Analysts maintain a favorable outlook, with a “Moderate Buy” consensus and an average price target of $108.60.
• Canadian Pacific Kansas City reported quarterly revenue of $2.93 billion and EPS of $0.92, exceeding estimates, while announcing a quarterly dividend of $0.268 per share, representing a 1.2% yield.

Cidel Asset Management Inc. reduced its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 35.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 255,538 shares of the transportation company's stock after selling 142,787 shares during the quarter. Canadian Pacific Kansas City accounts for approximately 1.1% of Cidel Asset Management Inc.'s holdings, making the stock its 27th largest holding. Cidel Asset Management Inc.'s holdings in Canadian Pacific Kansas City were worth $22,147,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Saranac Partners Ltd acquired a new position in Canadian Pacific Kansas City in the 2nd quarter worth $6,773,000. HighTower Advisors LLC grew its stake in shares of Canadian Pacific Kansas City by 6.2% during the fourth quarter. HighTower Advisors LLC now owns 630,624 shares of the transportation company's stock valued at $46,434,000 after acquiring an additional 37,044 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Canadian Pacific Kansas City by 60.7% during the second quarter. Russell Investments Group Ltd. now owns 1,579,331 shares of the transportation company's stock worth $136,857,000 after acquiring an additional 596,252 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Canadian Pacific Kansas City by 12,903.0% in the second quarter. Vontobel Holding Ltd. now owns 874,710 shares of the transportation company's stock worth $75,760,000 after acquiring an additional 867,983 shares in the last quarter. Finally, Pacific Heights Asset Management LLC boosted its holdings in Canadian Pacific Kansas City by 42.5% in the fourth quarter. Pacific Heights Asset Management LLC now owns 285,000 shares of the transportation company's stock valued at $20,985,000 after purchasing an additional 85,000 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CP. Wells Fargo & Company raised their price objective on Canadian Pacific Kansas City from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, July 8th. Citigroup upped their target price on Canadian Pacific Kansas City from $106.00 to $109.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Weiss Ratings raised shares of Canadian Pacific Kansas City from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 2nd. Evercore set a $99.00 price target on shares of Canadian Pacific Kansas City in a report on Thursday, July 30th. Finally, Wall Street Zen raised shares of Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a report on Sunday, July 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Canadian Pacific Kansas City has an average rating of "Moderate Buy" and an average price target of $108.60.

Canadian Pacific Kansas City Stock Performance

CP stock opened at $91.13 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.59. The stock has a market capitalization of $80.05 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 1.91 and a beta of 1.12. Canadian Pacific Kansas City Limited has a 1 year low of $68.42 and a 1 year high of $96.90. The stock's fifty day moving average is $91.58 and its two-hundred day moving average is $87.12.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its quarterly earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%.The company had revenue of $2.93 billion for the quarter, compared to analysts' expectations of $2.89 billion. During the same quarter in the previous year, the company posted $1.12 earnings per share. The business's revenue for the quarter was up 12.6% compared to the same quarter last year. On average, research analysts predict that Canadian Pacific Kansas City Limited will post 3.72 EPS for the current year.

Canadian Pacific Kansas City Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Friday, September 25th will be issued a $0.268 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, September 25th. Canadian Pacific Kansas City's payout ratio is presently 24.76%.

Canadian Pacific Kansas City Profile

Canadian Pacific Kansas City Limited NYSE: CP is a North American transportation company that operates the Canadian Pacific Kansas City (CPKC) railway. Headquartered in Calgary, Alberta, the company provides rail transportation and logistics services for freight customers across Canada, the United States and Mexico.

CPKC transports a broad range of commodities and products, including grain and fertilizers, coal, energy and chemicals, forest products, metals and minerals, automotive goods, industrial and consumer products, and intermodal freight.

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