Canadian Pacific Kansas City Limited $CP Shares Sold by Cumberland Partners Ltd

Key Points

• Cumberland Partners Ltd cut its stake in Canadian Pacific Kansas City by 76.3% in the first quarter, selling 181,746 shares and leaving it with 56,572 shares worth about $4.44 million.
• The company reported mixed quarterly results, posting earnings of $0.76 per share versus estimates of $0.78 and revenue of $2.66 billion versus expectations of $2.70 billion.
• Canadian Pacific Kansas City also raised its quarterly dividend to $0.268 per share from $0.23, while analysts currently have an average rating of “Moderate Buy” and an average price target of $104.91.

Cumberland Partners Ltd lowered its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 76.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,572 shares of the transportation company's stock after selling 181,746 shares during the quarter. Cumberland Partners Ltd's holdings in Canadian Pacific Kansas City were worth $4,443,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Prosperity Bancshares Inc acquired a new position in Canadian Pacific Kansas City during the fourth quarter valued at $26,000. Gilpin Wealth Management LLC acquired a new position in shares of Canadian Pacific Kansas City in the 4th quarter valued at about $29,000. McMillan Office Inc. purchased a new stake in shares of Canadian Pacific Kansas City in the fourth quarter worth about $31,000. Acadian Asset Management LLC acquired a new stake in Canadian Pacific Kansas City during the first quarter worth about $35,000. Finally, Wealth Watch Advisors INC acquired a new stake in Canadian Pacific Kansas City during the third quarter worth about $36,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Stock Performance

CP opened at $92.40 on Friday. The firm's fifty day simple moving average is $88.86 and its two-hundred day simple moving average is $83.39. Canadian Pacific Kansas City Limited has a 52-week low of $68.42 and a 52-week high of $93.95. The company has a market cap of $81.78 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 1.84 and a beta of 1.10. The company has a quick ratio of 0.57, a current ratio of 0.67 and a debt-to-equity ratio of 0.46.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its earnings results on Wednesday, April 29th. The transportation company reported $0.76 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.02). The company had revenue of $2.66 billion for the quarter, compared to analysts' expectations of $2.70 billion. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 27.20%.The firm's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 EPS. Equities analysts anticipate that Canadian Pacific Kansas City Limited will post 3.69 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Friday, June 26th will be issued a dividend of $0.268 per share. The ex-dividend date of this dividend is Friday, June 26th. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.23. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.2%. Canadian Pacific Kansas City's payout ratio is currently 24.07%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Citigroup boosted their price target on Canadian Pacific Kansas City from $97.00 to $106.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Stephens raised shares of Canadian Pacific Kansas City to a "hold" rating in a report on Wednesday, July 8th. Weiss Ratings raised shares of Canadian Pacific Kansas City from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Royal Bank Of Canada reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Wednesday, June 24th. Finally, Wall Street Zen downgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a report on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Canadian Pacific Kansas City currently has an average rating of "Moderate Buy" and an average target price of $104.91.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC's core business is freight transportation and related logistics services.

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