K.J. Harrison & Partners Inc Sells 72,562 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

K.J. Harrison & Partners Inc trimmed its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 81.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,679 shares of the transportation company's stock after selling 72,562 shares during the period. K.J. Harrison & Partners Inc's holdings in Canadian Pacific Kansas City were worth $1,172,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new stake in Canadian Pacific Kansas City in the fourth quarter valued at $31,000. Millstone Evans Group LLC bought a new stake in Canadian Pacific Kansas City in the fourth quarter valued at approximately $36,000. Curio Wealth LLC acquired a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at approximately $39,000. Curat Global LLC acquired a new position in shares of Canadian Pacific Kansas City during the 1st quarter worth approximately $42,000. Finally, Parvin Asset Management LLC acquired a new stake in Canadian Pacific Kansas City during the 4th quarter valued at $43,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Price Performance

NYSE CP traded up $1.28 during trading on Wednesday, hitting $81.74. 2,296,547 shares of the company's stock were exchanged, compared to its average volume of 2,811,712. The stock's 50 day moving average price is $78.62 and its two-hundred day moving average price is $76.15. The company has a market cap of $75.32 billion, a PE ratio of 27.61, a P/E/G ratio of 2.15 and a beta of 1.07. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $87.72. 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 (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings results on Wednesday, April 30th. The transportation company reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. Canadian Pacific Kansas City had a net margin of 25.99% and a return on equity of 8.68%. The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the business earned $0.93 earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. Research analysts expect that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be issued a dividend of $0.1644 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.80%. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, June 27th. Canadian Pacific Kansas City's payout ratio is presently 22.30%.

Analyst Upgrades and Downgrades

CP has been the topic of several research analyst reports. Bank of America increased their price objective on shares of Canadian Pacific Kansas City from $82.00 to $90.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Wall Street Zen cut Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Scotiabank restated an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, May 1st. Jefferies Financial Group decreased their price objective on Canadian Pacific Kansas City from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Citigroup dropped their target price on Canadian Pacific Kansas City from $91.00 to $84.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $90.95.

Canadian Pacific Kansas City 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.