First Foundation Advisors Sells 22,608 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Key Points

• First Foundation Advisors reduced its stake in Canadian Pacific Kansas City Limited by 12.9% during Q1, holding 152,829 shares valued at approximately $10.73 million.
• Several institutional investors increased their holdings in Canadian Pacific Kansas City, with TD Asset Management and Mackenzie Financial Corp boosting their positions by 0.5% and 6.5%, respectively.
• Analysts have given Canadian Pacific Kansas City a consensus rating of "Moderate Buy" with a target price of $91.95, as recent reports noted a mix of upgrades and downgrades from various firms.

First Foundation Advisors reduced its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 12.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,829 shares of the transportation company's stock after selling 22,608 shares during the quarter. First Foundation Advisors' holdings in Canadian Pacific Kansas City were worth $10,730,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. S&CO Inc. increased its stake in Canadian Pacific Kansas City by 10.8% in the first quarter. S&CO Inc. now owns 20,600 shares of the transportation company's stock valued at $1,446,000 after purchasing an additional 2,000 shares during the period. Kirtland Hills Capital Management LLC boosted its holdings in Canadian Pacific Kansas City by 7.8% during the first quarter. Kirtland Hills Capital Management LLC now owns 7,090 shares of the transportation company's stock worth $528,000 after buying an additional 512 shares in the last quarter. Ramirez Asset Management Inc. raised its position in Canadian Pacific Kansas City by 43.3% during the first quarter. Ramirez Asset Management Inc. now owns 41,241 shares of the transportation company's stock worth $2,896,000 after acquiring an additional 12,463 shares during the last quarter. Viawealth LLC raised its position in Canadian Pacific Kansas City by 3.1% during the first quarter. Viawealth LLC now owns 7,255 shares of the transportation company's stock worth $509,000 after acquiring an additional 217 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in Canadian Pacific Kansas City by 6.5% during the first quarter. Mackenzie Financial Corp now owns 16,347,804 shares of the transportation company's stock worth $1,147,220,000 after acquiring an additional 999,522 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CP. Barclays boosted their price objective on shares of Canadian Pacific Kansas City from $87.00 to $91.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Bank of America boosted their price objective on shares of Canadian Pacific Kansas City from $82.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Susquehanna reiterated a "positive" rating and set a $94.00 price objective (up from $90.00) on shares of Canadian Pacific Kansas City in a research note on Tuesday, June 24th. 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 for the company in a research note on Thursday, May 1st. Finally, Jefferies Financial Group reduced their price objective on shares of Canadian Pacific Kansas City from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $92.30.

Canadian Pacific Kansas City Price Performance

CP traded down $0.66 on Friday, reaching $72.89. The company had a trading volume of 3,386,880 shares, compared to its average volume of 3,229,591. The company has a fifty day moving average of $79.88 and a 200-day moving average of $76.93. The company has a market capitalization of $66.91 billion, a P/E ratio of 22.71, a PEG ratio of 2.12 and a beta of 1.07. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. Canadian Pacific Kansas City Limited has a one year low of $66.49 and a one year high of $87.72.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its quarterly earnings data on Wednesday, April 30th. The transportation company reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.68%. The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the firm posted $0.93 EPS. The business's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, September 26th will be given a dividend of $0.1651 per share. The ex-dividend date of this dividend is Friday, September 26th. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 0.9%. 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.