Raymond James Financial Inc. Has $65.35 Million Stake in Canadian Pacific Kansas City Limited $CP

Key Points

• Raymond James Financial Inc. has reduced its holdings in Canadian Pacific Kansas City Limited by 9.2%, now owning 930,749 shares valued at approximately $65.35 million.
• The company reported a missed earnings per share (EPS) of $0.81 for the last quarter, falling short of analysts' expectations of $0.82.
• Canadian Pacific Kansas City has announced an increase in its quarterly dividend, now set at $0.1651, to be paid on October 27th, reflecting a payout ratio of 20.56%.

Raymond James Financial Inc. trimmed its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 9.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 930,749 shares of the transportation company's stock after selling 94,103 shares during the quarter. Raymond James Financial Inc. owned 0.10% of Canadian Pacific Kansas City worth $65,348,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. North Capital Inc. acquired a new position in Canadian Pacific Kansas City during the first quarter worth $27,000. Cornerstone Planning Group LLC raised its stake in Canadian Pacific Kansas City by 209.8% during the first quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company's stock worth $28,000 after acquiring an additional 256 shares in the last quarter. Cheviot Value Management LLC acquired a new position in Canadian Pacific Kansas City during the first quarter worth $30,000. Bernard Wealth Management Corp. acquired a new position in Canadian Pacific Kansas City during the fourth quarter worth $31,000. Finally, Hexagon Capital Partners LLC raised its stake in Canadian Pacific Kansas City by 49.5% during the first quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock worth $35,000 after acquiring an additional 164 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Evercore ISI dropped their price objective on Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Susquehanna restated a "positive" rating and set a $94.00 target price (up previously from $90.00) on shares of Canadian Pacific Kansas City in a report on Tuesday, June 24th. Bank of America increased their target price 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. The Goldman Sachs Group restated a "neutral" rating and set a $91.00 target price on shares of Canadian Pacific Kansas City in a report on Monday, June 2nd. Finally, Barclays increased their target price on Canadian Pacific Kansas City from $87.00 to $91.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $92.30.

Canadian Pacific Kansas City Trading Up 2.2%

Canadian Pacific Kansas City stock traded up $1.6080 during mid-day 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 stock has a 50-day simple moving average of $77.77 and a two-hundred day simple moving average of $76.61. The stock has a market capitalization 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.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its quarterly earnings results on Wednesday, July 30th. The transportation company reported $0.81 earnings per share (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 net margin of 28.05% and a return on equity of 8.69%. Canadian Pacific Kansas City's revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 EPS. As a group, sell-side analysts forecast 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 declared 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 positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 26th. Canadian Pacific Kansas City's dividend payout ratio (DPR) 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.