Canadian Pacific Kansas City Limited $CP Shares Sold by Cullen Frost Bankers Inc.

Key Points

• Cullen Frost Bankers Inc. reduced its holdings in Canadian Pacific Kansas City by 4.2%, now owning 270,647 shares valued at approximately $21.45 million.
• Canadian Pacific Kansas City reported earnings per share of $0.81 for the last quarter, missing expectations of $0.82, and had a revenue of $2.72 billion, slightly below the anticipated $2.76 billion.
• The company declared an increased quarterly dividend of $0.1651 per share, up from the previous $0.16, with a payout ratio of 20.56%.

Cullen Frost Bankers Inc. decreased its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 270,647 shares of the transportation company's stock after selling 11,901 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Canadian Pacific Kansas City were worth $21,454,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. North Capital Inc. acquired a new position in shares of Canadian Pacific Kansas City during the 1st quarter valued at about $27,000. Cornerstone Planning Group LLC boosted its position in shares of Canadian Pacific Kansas City by 209.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company's stock valued at $28,000 after acquiring an additional 256 shares during the last quarter. Cheviot Value Management LLC acquired a new position in shares of Canadian Pacific Kansas City during the 1st quarter valued at about $30,000. Hexagon Capital Partners LLC boosted its position in shares of Canadian Pacific Kansas City by 49.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock valued at $35,000 after acquiring an additional 164 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Canadian Pacific Kansas City during the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Canadian Pacific Kansas City Stock Down 1.2%

Shares of NYSE:CP opened at $75.64 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.93 and a quick ratio of 0.81. The firm has a market capitalization of $68.59 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 2.16 and a beta of 1.08. The firm's 50-day moving average is $75.49 and its two-hundred day moving average is $76.76. Canadian Pacific Kansas City Limited has a 1 year low of $66.49 and a 1 year high of $83.65.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). The business had revenue of $2.72 billion for the quarter, compared to analysts' expectations of $2.76 billion. Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%.The firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $1.05 earnings per share. Analysts predict 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. Shareholders of record on Friday, September 26th will be paid a dividend of $0.1651 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. The ex-dividend date is Friday, September 26th. Canadian Pacific Kansas City's payout ratio is currently 20.56%.

Wall Street Analyst Weigh In

CP has been the topic of several recent research reports. Wall Street Zen cut shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. Susquehanna decreased their target price on shares of Canadian Pacific Kansas City from $91.00 to $88.00 and set a "positive" rating on the stock in a research report on Thursday, September 25th. National Bankshares reaffirmed an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, September 18th. Barclays set a $90.00 target price on shares of Canadian Pacific Kansas City and gave the company an "overweight" rating in a research report on Thursday, October 2nd. Finally, Stephens upped their target price on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Canadian Pacific Kansas City currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.38.

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.

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