Bluegrass Capital Partners LP Sells 122,000 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Key Points

• Bluegrass Capital Partners LP significantly reduced its stake in Canadian Pacific Kansas City by 93.8%, now holding only 8,000 shares, which represent 0.5% of its portfolio.
• Analysts have mixed views on the stock, with two sell ratings, four holds, and eleven buy ratings, resulting in a consensus rating of "Moderate Buy" with a target price of $92.30.
• Canadian Pacific Kansas City recently declared a quarterly dividend of $0.1651 per share, marking a slight increase from its previous dividend of $0.16, which indicates a positive outlook for investors.

Bluegrass Capital Partners LP decreased its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 93.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,000 shares of the transportation company's stock after selling 122,000 shares during the quarter. Canadian Pacific Kansas City accounts for 0.5% of Bluegrass Capital Partners LP's portfolio, making the stock its 11th largest position. Bluegrass Capital Partners LP's holdings in Canadian Pacific Kansas City were worth $562,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CP. TD Asset Management Inc boosted its holdings in shares of Canadian Pacific Kansas City by 0.5% during the 1st quarter. TD Asset Management Inc now owns 20,865,404 shares of the transportation company's stock valued at $1,464,094,000 after acquiring an additional 104,077 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Canadian Pacific Kansas City by 6.5% during the first quarter. Mackenzie Financial Corp now owns 16,347,804 shares of the transportation company's stock valued at $1,147,220,000 after purchasing an additional 999,522 shares during the last quarter. Causeway Capital Management LLC lifted its position in Canadian Pacific Kansas City by 76.5% during the fourth quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company's stock valued at $1,116,632,000 after purchasing an additional 6,687,770 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Canadian Pacific Kansas City by 11.3% in 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 purchasing an additional 1,262,913 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Canadian Pacific Kansas City by 2.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 11,707,319 shares of the transportation company's stock worth $848,794,000 after purchasing an additional 334,844 shares during the last quarter. Institutional investors own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

CP has been the subject of a number of research reports. Wall Street Zen lowered shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Stifel Nicolaus cut their price objective on Canadian Pacific Kansas City from $85.00 to $79.00 and set a "hold" rating for the company in a report on Monday, April 14th. Susquehanna reiterated a "positive" rating and set a $94.00 price objective (up previously from $90.00) on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 24th. Scotiabank reissued an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 10th. Finally, Stephens raised their target price on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Canadian Pacific Kansas City has an average rating of "Moderate Buy" and an average target price of $92.30.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE CP traded down $0.35 during trading on Friday, hitting $75.04. The company had a trading volume of 2,329,077 shares, compared to its average volume of 3,493,928. 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 debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 0.93. The firm has a market capitalization of $68.56 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 2.12 and a beta of 1.06. The stock has a 50 day simple moving average of $79.31 and a 200 day simple moving average of $76.94.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its 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). Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%. The firm had revenue of $2.72 billion during the quarter, compared to analysts' expectations of $2.76 billion. During the same period in the prior year, the company posted $1.05 earnings per share. The company's revenue was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be given a dividend of $0.1651 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, September 26th. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. 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.