US Bancorp DE Trims Stake in Canadian Pacific Kansas City Limited (NYSE:CP)

Key Points

• US Bancorp DE reduced its holdings in Canadian Pacific Kansas City by 34.8%, owning 123,985 shares worth about $8.7 million after selling 66,078 shares.
• Canadian Pacific's stock increased by 2.0% to reach $74.31, with a market cap of $68.21 billion and a current price-to-earnings ratio of 23.15.
• The company declared a quarterly dividend of $0.1651, a slight increase from the previous dividend, with a current yield of 0.9% and a payout ratio of 20.56%.

US Bancorp DE decreased its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 34.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,985 shares of the transportation company's stock after selling 66,078 shares during the period. US Bancorp DE's holdings in Canadian Pacific Kansas City were worth $8,705,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Causeway Capital Management LLC increased its position in Canadian Pacific Kansas City by 76.5% in the 4th quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company's stock valued at $1,116,632,000 after buying an additional 6,687,770 shares in the last quarter. Invesco Ltd. grew its holdings in Canadian Pacific Kansas City by 25.7% during the fourth quarter. Invesco Ltd. now owns 10,647,039 shares of the transportation company's stock valued at $770,526,000 after purchasing an additional 2,177,604 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Canadian Pacific Kansas City by 44.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,950,353 shares of the transportation company's stock valued at $351,723,000 after purchasing an additional 1,516,684 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Canadian Pacific Kansas City by 11.3% during 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 acquiring an additional 1,262,913 shares in the last quarter. Finally, Consulta Ltd raised its position in shares of Canadian Pacific Kansas City by 78.6% in the fourth quarter. Consulta Ltd now owns 2,500,000 shares of the transportation company's stock worth $180,925,000 after buying an additional 1,100,000 shares in the last quarter. Institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Price Performance

CP stock traded up $0.69 during mid-day trading on Tuesday, hitting $75.09. The company had a trading volume of 4,099,876 shares, compared to its average volume of 3,187,632. The company has a market capitalization of $68.93 billion, a price-to-earnings ratio of 23.39, 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 quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $79.62 and a 200 day moving average price of $76.95.

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 the consensus estimate of $0.82 by ($0.01). The company 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 firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 EPS. On average, research 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 firm also recently announced 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. The ex-dividend date is Friday, September 26th. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. 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 currently 20.56%.

Wall Street Analyst Weigh In

CP has been the topic of a number of research analyst reports. Citigroup increased their target price on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Stephens lifted 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. Susquehanna restated a "positive" rating and issued a $94.00 price objective (up from $90.00) on shares of Canadian Pacific Kansas City in a report on Tuesday, June 24th. Barclays lifted their price objective 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. Finally, Bank of America lifted their target price on shares of Canadian Pacific Kansas City from $82.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy 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 Company 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.