Envestnet Asset Management Inc. Sells 78,171 Shares of Canadian Pacific Kansas City Limited $CP

Key Points

• Envestnet Asset Management reduced its Canadian Pacific Kansas City stake by 7.4%, selling 78,171 shares and retaining 976,612 shares valued at approximately $84.6 million. Institutional investors and hedge funds collectively own 72.2% of the company.
• Analysts remain broadly positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $108.60; Wells Fargo and Citigroup recently raised their targets to $100 and $109, respectively.
• Canadian Pacific Kansas City reported quarterly EPS of $0.92, exceeding estimates by $0.03, while revenue rose 12.6% year over year to $2.93 billion. The company also declared a quarterly dividend of C$0.27 per share, yielding about 1.2% annually.

Envestnet Asset Management Inc. trimmed its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 7.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 976,612 shares of the transportation company's stock after selling 78,171 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.11% of Canadian Pacific Kansas City worth $84,627,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Saranac Partners Ltd bought a new position in Canadian Pacific Kansas City during the 2nd quarter worth approximately $6,773,000. Russell Investments Group Ltd. increased its holdings in shares of Canadian Pacific Kansas City by 60.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,579,331 shares of the transportation company's stock valued at $136,857,000 after acquiring an additional 596,252 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Canadian Pacific Kansas City by 12,903.0% in the 2nd quarter. Vontobel Holding Ltd. now owns 874,710 shares of the transportation company's stock valued at $75,760,000 after acquiring an additional 867,983 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Canadian Pacific Kansas City during the 2nd quarter valued at approximately $1,043,000. Finally, Deutsche Bank AG raised its position in shares of Canadian Pacific Kansas City by 6.1% during the 2nd quarter. Deutsche Bank AG now owns 1,647,162 shares of the transportation company's stock valued at $142,727,000 after acquiring an additional 94,673 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a research note on Sunday, July 26th. Scotiabank reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 16th. Stephens raised shares of Canadian Pacific Kansas City to a "hold" rating in a report on Wednesday, July 8th. Wells Fargo & Company raised their price target on shares of Canadian Pacific Kansas City from $90.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 8th. Finally, Citigroup boosted their price objective on shares of Canadian Pacific Kansas City from $106.00 to $109.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Canadian Pacific Kansas City has a consensus rating of "Moderate Buy" and a consensus target price of $108.60.

Canadian Pacific Kansas City Price Performance

Shares of NYSE CP opened at $86.92 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.59 and a quick ratio of 0.50. The firm has a market capitalization of $76.35 billion, a PE ratio of 27.95, a P/E/G ratio of 1.81 and a beta of 1.12. Canadian Pacific Kansas City Limited has a 1-year low of $68.42 and a 1-year high of $96.90. The business's fifty day moving average price is $91.18 and its two-hundred day moving average price is $87.32.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. Canadian Pacific Kansas City had a net margin of 25.02% and a return on equity of 9.02%. The company's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 earnings per share. On average, research analysts expect that Canadian Pacific Kansas City Limited will post 3.72 EPS for the current year.

Canadian Pacific Kansas City Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Friday, September 25th will be issued a dividend of C$0.27 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 25th. Canadian Pacific Kansas City's payout ratio is 25.08%.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City Limited NYSE: CP is a North American transportation company that operates the Canadian Pacific Kansas City (CPKC) railway. Headquartered in Calgary, Alberta, the company provides rail transportation and logistics services for freight customers across Canada, the United States and Mexico.

CPKC transports a broad range of commodities and products, including grain and fertilizers, coal, energy and chemicals, forest products, metals and minerals, automotive goods, industrial and consumer products, and intermodal freight.

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