Hsbc Holdings PLC Sells 178,968 Shares of Canadian Pacific Kansas City Limited $CP

Key Points

• Hsbc Holdings PLC reduced its stake in Canadian Pacific Kansas City Limited by 32.2%, holding approximately $26.42 million in shares after selling nearly 179,000 shares in the first quarter.
• Canadian Pacific Kansas City recently announced a quarterly dividend increase from $0.16 to $0.1651, with a payout set for October 27th, reflecting a modest annualized yield of 0.9%.
• The company reported earnings of $0.81 per share for the last quarter, slightly below analysts' expectations of $0.82, while revenue showed a year-on-year increase of 2.7% despite missing estimates.

Hsbc Holdings PLC cut its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 32.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 376,535 shares of the transportation company's stock after selling 178,968 shares during the period. Hsbc Holdings PLC's holdings in Canadian Pacific Kansas City were worth $26,418,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Planning Group LLC increased its position in shares of Canadian Pacific Kansas City by 209.8% during the first quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company's stock valued at $28,000 after buying an additional 256 shares during the period. North Capital Inc. bought a new stake in shares of Canadian Pacific Kansas City during the first quarter valued at about $27,000. Cheviot Value Management LLC bought a new stake in shares of Canadian Pacific Kansas City during the first quarter valued at about $30,000. Bernard Wealth Management Corp. bought a new stake in shares of Canadian Pacific Kansas City during the fourth quarter valued at about $31,000. Finally, Hexagon Capital Partners LLC increased its position in shares of Canadian Pacific Kansas City by 49.5% during the first quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock valued at $35,000 after buying an additional 164 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CP shares. Evercore ISI decreased their price target on Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Scotiabank restated an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 10th. Stephens upped their price objective on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Citigroup upped their price objective on shares of Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Barclays upped their price objective on shares of Canadian Pacific Kansas City from $87.00 to $91.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $92.30.

Canadian Pacific Kansas City Price Performance

CP traded down $0.75 during midday trading on Thursday, hitting $76.12. The stock had a trading volume of 922,079 shares, compared to its average volume of 3,223,562. The company has a market cap of $69.54 billion, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 2.13 and a beta of 1.06. The business has a fifty day moving average of $77.46 and a 200 day moving average of $76.57. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 0.93. Canadian Pacific Kansas City Limited has a 1 year low of $66.49 and a 1 year high of $87.72.

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

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.1651 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, September 26th. Canadian Pacific Kansas City's payout ratio is currently 20.56%.

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.