Bornite Capital Management LP Sells 28,100 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Key Points

• Bornite Capital Management LP reduced its stake in Canadian Pacific Kansas City Limited by 12.3%, holding 200,000 shares valued at approximately $14 million.
• The company announced a quarterly dividend increase to $0.1651, representing an annual yield of 0.9%, with a payout ratio of 20.56%.
• Canadian Pacific Kansas City reported quarterly earnings of $0.81 per share, slightly missing estimates, and a revenue of $2.72 billion.

Bornite Capital Management LP lowered its stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 12.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 200,000 shares of the transportation company's stock after selling 28,100 shares during the quarter. Canadian Pacific Kansas City makes up approximately 3.6% of Bornite Capital Management LP's investment portfolio, making the stock its 15th largest position. Bornite Capital Management LP's holdings in Canadian Pacific Kansas City were worth $14,042,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Insight Partners LLC lifted its stake in shares of Canadian Pacific Kansas City by 0.4% during the 1st quarter. Capital Insight Partners LLC now owns 40,700 shares of the transportation company's stock worth $2,858,000 after buying an additional 143 shares during the last quarter. Davidson Trust Co. lifted its stake in shares of Canadian Pacific Kansas City by 3.2% during the 1st quarter. Davidson Trust Co. now owns 4,660 shares of the transportation company's stock worth $327,000 after buying an additional 144 shares during the last quarter. Advisory Services Network LLC lifted its stake in shares of Canadian Pacific Kansas City by 2.2% during the 4th quarter. Advisory Services Network LLC now owns 7,194 shares of the transportation company's stock worth $521,000 after buying an additional 152 shares during the last quarter. Transatlantique Private Wealth LLC increased its position in Canadian Pacific Kansas City by 1.6% during the fourth quarter. Transatlantique Private Wealth LLC now owns 10,066 shares of the transportation company's stock worth $728,000 after acquiring an additional 157 shares during the period. Finally, Tradewinds LLC. increased its position in Canadian Pacific Kansas City by 3.8% during the first quarter. Tradewinds LLC. now owns 4,326 shares of the transportation company's stock worth $304,000 after acquiring an additional 157 shares during the period. Institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CP shares. Wall Street Zen lowered shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Royal Bank Of Canada decreased their target price on shares of Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Susquehanna reissued a "positive" rating and issued a $94.00 target price (up from $90.00) on shares of Canadian Pacific Kansas City in a report on Tuesday, June 24th. National Bank Financial raised shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. Finally, Stephens raised 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 report on Thursday, July 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $92.30.

Canadian Pacific Kansas City Trading Down 2.7%

Canadian Pacific Kansas City stock traded down $2.01 during trading hours on Thursday, reaching $73.62. The stock had a trading volume of 1,603,144 shares, compared to its average volume of 3,227,582. Canadian Pacific Kansas City Limited has a 52 week low of $66.49 and a 52 week high of $87.72. The stock has a market cap of $67.26 billion, a PE ratio of 22.94, a PEG ratio of 2.11 and a beta of 1.06. 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 company has a fifty day simple moving average of $78.77 and a 200-day simple moving average of $76.83.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings results on Wednesday, July 30th. The transportation company reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). The business had revenue of $2.72 billion during 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 business's revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 EPS. Analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently disclosed 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 represents a $0.66 annualized dividend and a 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 dividend payout ratio is 20.25%.

About Canadian Pacific Kansas City

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.