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Cumberland Partners Ltd Lowers Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Canadian Pacific Kansas City logo with Transportation background

Key Points

  • Cumberland Partners Ltd reduced its stake in Canadian Pacific Kansas City by 3.6%, now holding 378,939 shares worth approximately $26.6 million, making it the fund's 19th largest position.
  • Canadian Pacific Kansas City recently reported its quarterly earnings, matching consensus estimates with an EPS of $0.74, and achieving a revenue increase of 8.0% year-over-year.
  • The company announced an increase in its quarterly dividend to $0.1651, with an annualized yield of 0.9%, scheduled for payment on October 27th.
  • MarketBeat previews the top five stocks to own by September 1st.

Cumberland Partners Ltd lessened its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 3.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 378,939 shares of the transportation company's stock after selling 14,091 shares during the period. Canadian Pacific Kansas City comprises about 2.1% of Cumberland Partners Ltd's portfolio, making the stock its 19th largest holding. Cumberland Partners Ltd's holdings in Canadian Pacific Kansas City were worth $26,605,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CP. Capital Insight Partners LLC lifted its holdings in 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 period. Davidson Trust Co. lifted its holdings in 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 period. Advisory Services Network LLC lifted its holdings in 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 period. Transatlantique Private Wealth LLC lifted its holdings in Canadian Pacific Kansas City by 1.6% during the 4th quarter. Transatlantique Private Wealth LLC now owns 10,066 shares of the transportation company's stock worth $728,000 after buying an additional 157 shares during the period. Finally, Tradewinds LLC. lifted its holdings in Canadian Pacific Kansas City by 3.8% during the 1st quarter. Tradewinds LLC. now owns 4,326 shares of the transportation company's stock worth $304,000 after buying an additional 157 shares during the period. Institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Price Performance

Canadian Pacific Kansas City stock traded down $0.66 during midday trading on Friday, hitting $72.89. 3,538,129 shares of the company's stock were exchanged, compared to its average volume of 3,097,308. 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 50-day moving average price of $79.74 and a two-hundred day moving average price of $76.96. 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 company has a market cap of $66.91 billion, a P/E ratio of 22.71, a PEG ratio of 2.05 and a beta of 1.06.

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 EPS for the quarter, missing analysts' consensus estimates 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%. The firm's revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 EPS. On average, equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.1651 per share. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 26th. Canadian Pacific Kansas City's dividend payout ratio (DPR) is currently 20.56%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CP. Evercore ISI lowered 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 report on Thursday, May 1st. National Bank Financial raised Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $91.00 target price on shares of Canadian Pacific Kansas City in a research report on Monday, June 2nd. Susquehanna reaffirmed a "positive" rating and issued a $94.00 target price (up from $90.00) on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 24th. Finally, Jefferies Financial Group decreased their target price on Canadian Pacific Kansas City from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.30.

Check Out Our Latest Research Report on Canadian Pacific Kansas City

About Canadian Pacific Kansas City

(Free Report)

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.

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Institutional Ownership by Quarter for Canadian Pacific Kansas City (NYSE:CP)

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