Credit Agricole S A Sells 64,230 Shares of Canadian Pacific Kansas City Limited $CP

Key Points

• Credit Agricole S A reduced its stake in Canadian Pacific Kansas City Limited by 23.1%, selling 64,230 shares, with current holdings valued at approximately $14.99 million.
• Analysts have set a consensus price target of $92.30 for Canadian Pacific Kansas City, with ratings including one "Strong Buy," eleven "Buy," and four "Hold."
• The company recently announced an increase in its quarterly dividend to $0.1651, reflecting a 0.9% yield and a payout ratio of 20.56%.

Credit Agricole S A trimmed its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 23.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 213,562 shares of the transportation company's stock after selling 64,230 shares during the period. Credit Agricole S A's holdings in Canadian Pacific Kansas City were worth $14,994,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CP. Invesco Ltd. raised its holdings in shares of Canadian Pacific Kansas City by 59.5% during the first quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company's stock worth $1,192,471,000 after acquiring an additional 6,337,312 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Canadian Pacific Kansas City by 70.4% during the first quarter. Goldman Sachs Group Inc. now owns 9,299,753 shares of the transportation company's stock worth $652,936,000 after acquiring an additional 3,842,866 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Canadian Pacific Kansas City during the first quarter worth $126,928,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Canadian Pacific Kansas City by 44.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,950,353 shares of the transportation company's stock worth $351,723,000 after acquiring an additional 1,516,684 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Canadian Pacific Kansas City by 11.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,433,380 shares of the transportation company's stock worth $899,805,000 after acquiring an additional 1,262,913 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CP. Bank of America increased their price objective on Canadian Pacific Kansas City from $82.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Wall Street Zen upgraded shares of Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a report on Saturday. Citigroup raised their price target on shares of Canadian Pacific Kansas City from $89.00 to $94.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Evercore ISI cut their price target 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, Barclays raised their price target on shares of Canadian Pacific Kansas City from $87.00 to $91.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. 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 Performance

CP traded up $1.6080 during trading on Friday, hitting $74.8380. The stock had a trading volume of 4,538,451 shares, compared to its average volume of 3,344,345. The firm has a market cap of $68.37 billion, a PE ratio of 23.31, a P/E/G ratio of 2.09 and a beta of 1.06. Canadian Pacific Kansas City Limited has a 12 month low of $66.49 and a 12 month high of $87.72. 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 50 day simple moving average of $77.77 and a 200-day simple moving average of $76.61.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its 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 firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business earned $1.05 EPS. Analysts expect that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently announced 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 payout ratio is 20.56%.

Canadian Pacific Kansas City 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.