DAVENPORT & Co LLC Sells 39,990 Shares of Canadian Pacific Kansas City Limited $CP

DAVENPORT & Co LLC decreased its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 89.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,823 shares of the transportation company's stock after selling 39,990 shares during the quarter. DAVENPORT & Co LLC's holdings in Canadian Pacific Kansas City were worth $382,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CP. North Capital Inc. bought a new position in shares of Canadian Pacific Kansas City during the 1st quarter worth $27,000. Cornerstone Planning Group LLC grew its stake in shares of Canadian Pacific Kansas City by 209.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company's stock worth $28,000 after acquiring an additional 256 shares during the period. Cheviot Value Management LLC bought a new position in shares of Canadian Pacific Kansas City during the 1st quarter worth $30,000. Hexagon Capital Partners LLC boosted its stake in Canadian Pacific Kansas City by 49.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock worth $35,000 after purchasing an additional 164 shares during the period. Finally, Acadian Asset Management LLC bought a new position in Canadian Pacific Kansas City in the 1st quarter worth about $35,000. Institutional investors own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CP. Scotiabank restated an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 10th. Wall Street Zen downgraded Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. National Bankshares restated an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, September 18th. Susquehanna cut their target price on Canadian Pacific Kansas City from $91.00 to $88.00 and set a "positive" rating for the company in a research note on Thursday, September 25th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Canadian Pacific Kansas City in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $91.85.

Canadian Pacific Kansas City Stock Performance

NYSE:CP opened at $74.90 on Monday. The business's 50-day moving average price is $75.34 and its two-hundred day moving average price is $76.53. Canadian Pacific Kansas City Limited has a twelve month low of $66.49 and a twelve month high of $83.65. The stock has a market cap of $67.93 billion, a P/E ratio of 23.33, a PEG ratio of 2.11 and a beta of 1.08. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its quarterly earnings results on Wednesday, July 30th. The transportation company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The business had revenue of $2.72 billion during the quarter, compared to analysts' expectations of $2.76 billion. During the same period in the previous year, the business earned $1.05 EPS. The business's revenue was up 2.7% on a year-over-year basis. As a group, equities analysts predict that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company 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 dividend of $0.1651 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.66 dividend on an annualized basis 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 payout ratio is 20.56%.

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.

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