Mufg Securities Canada LTD. Cuts Position in Canadian Pacific Kansas City Limited $CP

Key Points

• Mufg Securities Canada LTD. reduced its stake in Canadian Pacific Kansas City by 9.3% in the fourth quarter, selling 140,185 shares and leaving it with 1,371,627 shares worth about $101 million.
• CPKC’s latest earnings missed expectations, posting EPS of $0.76 versus the $0.78 estimate, while revenue of $2.66 billion also came in slightly below forecasts.
• The company raised its quarterly dividend to $0.268 per share, up from $0.23, and analysts currently rate the stock a consensus “Moderate Buy” with an average price target of $103.22.

Mufg Securities Canada LTD. trimmed its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 9.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,371,627 shares of the transportation company's stock after selling 140,185 shares during the period. Canadian Pacific Kansas City comprises about 2.8% of Mufg Securities Canada LTD.'s portfolio, making the stock its 13th biggest position. Mufg Securities Canada LTD. owned 0.15% of Canadian Pacific Kansas City worth $101,005,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Cromwell Holdings LLC increased its stake in Canadian Pacific Kansas City by 8.1% in the fourth quarter. Cromwell Holdings LLC now owns 1,936 shares of the transportation company's stock valued at $143,000 after purchasing an additional 145 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in Canadian Pacific Kansas City by 3.2% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,033 shares of the transportation company's stock valued at $371,000 after purchasing an additional 157 shares during the last quarter. Fortune Financial Advisors LLC increased its stake in Canadian Pacific Kansas City by 1.2% in the fourth quarter. Fortune Financial Advisors LLC now owns 13,623 shares of the transportation company's stock valued at $1,003,000 after purchasing an additional 158 shares during the last quarter. Brookstone Capital Management increased its stake in Canadian Pacific Kansas City by 1.2% in the fourth quarter. Brookstone Capital Management now owns 14,355 shares of the transportation company's stock valued at $1,057,000 after purchasing an additional 176 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Canadian Pacific Kansas City by 15.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,518 shares of the transportation company's stock valued at $112,000 after purchasing an additional 202 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Price Performance

Canadian Pacific Kansas City stock opened at $89.99 on Monday. Canadian Pacific Kansas City Limited has a one year low of $68.42 and a one year high of $91.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.57 and a current ratio of 0.67. The business has a fifty day moving average of $85.52 and a two-hundred day moving average of $80.26. The company has a market cap of $79.84 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 1.93 and a beta of 1.09.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its earnings results on Wednesday, April 29th. The transportation company reported $0.76 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.02). Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. The business had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period last year, the business posted $1.06 EPS. Canadian Pacific Kansas City's revenue was down 2.5% compared to the same quarter last year. As a group, analysts predict that Canadian Pacific Kansas City Limited will post 3.76 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Friday, June 26th will be issued a $0.268 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 1.2%. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, June 26th. Canadian Pacific Kansas City's dividend payout ratio is 20.68%.

Wall Street Analyst Weigh In

Several brokerages have commented on CP. Barclays set a $99.00 price target on shares of Canadian Pacific Kansas City and gave the company an "overweight" rating in a research note on Thursday, April 30th. Royal Bank Of Canada dropped their price target on shares of Canadian Pacific Kansas City from $128.00 to $127.00 and set an "outperform" rating on the stock in a research note on Thursday, April 30th. National Bank Financial upgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 15th. Canadian Imperial Bank of Commerce set a $140.00 target price on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 9th. Finally, ATB Cormark Capital Markets lowered shares of Canadian Pacific Kansas City from a "strong-buy" rating to a "moderate buy" rating in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $103.22.

Canadian Pacific Kansas City Profile

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC's core business is freight transportation and related logistics services.

Want to see what other hedge funds are holding CP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.