Parr Mcknight Wealth Management Group LLC Reduces Stake in Canadian Pacific Kansas City Limited $CP

Key Points

• Parr Mcknight Wealth Management Group LLC cut its stake in Canadian Pacific Kansas City by 44.3% in the fourth quarter, selling 15,724 shares and leaving it with 19,746 shares valued at about $1.45 million.
• The railroad company recently reported quarterly EPS of $0.76, below analyst expectations of $0.78, while revenue of $2.66 billion also missed estimates. Revenue declined 2.5% year over year.
• Canadian Pacific Kansas City raised its quarterly dividend to $0.268 per share from $0.23, implying an annualized dividend of $1.07 and a yield of about 1.2%.

Parr Mcknight Wealth Management Group LLC lessened its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 44.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,746 shares of the transportation company's stock after selling 15,724 shares during the quarter. Parr Mcknight Wealth Management Group LLC's holdings in Canadian Pacific Kansas City were worth $1,454,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Meixler Investment Management Ltd. bought a new stake in shares of Canadian Pacific Kansas City in the third quarter valued at approximately $1,644,000. AGF Management Ltd. raised its position in shares of Canadian Pacific Kansas City by 9.9% in the third quarter. AGF Management Ltd. now owns 2,001,292 shares of the transportation company's stock valued at $149,215,000 after purchasing an additional 180,419 shares during the period. Rothschild & Co Wealth Management UK Ltd raised its position in shares of Canadian Pacific Kansas City by 0.9% in the fourth quarter. Rothschild & Co Wealth Management UK Ltd now owns 5,353,188 shares of the transportation company's stock valued at $394,156,000 after purchasing an additional 48,258 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Canadian Pacific Kansas City by 1.3% in the third quarter. Envestnet Asset Management Inc. now owns 1,127,435 shares of the transportation company's stock valued at $83,985,000 after purchasing an additional 14,916 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Canadian Pacific Kansas City by 7.5% in the third quarter. Oppenheimer Asset Management Inc. now owns 153,448 shares of the transportation company's stock valued at $11,430,000 after purchasing an additional 10,726 shares during the period. Institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Stock Performance

NYSE:CP opened at $89.26 on Monday. The firm has a market cap of $79.19 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 1.91 and a beta of 1.09. Canadian Pacific Kansas City Limited has a fifty-two week low of $68.42 and a fifty-two week high of $91.46. 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 50 day moving average price of $83.32 and a 200-day moving average price of $78.89.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $0.76 earnings per share 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 company had revenue of $2.66 billion for the quarter, compared to analysts' expectations of $2.70 billion. During the same period last year, the company posted $1.06 EPS. The business's revenue for the quarter was down 2.5% compared to the same quarter last year. Equities research analysts predict that Canadian Pacific Kansas City Limited will post 3.76 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

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

Analysts Set New Price Targets

CP has been the topic of several analyst reports. Wall Street Zen upgraded Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a research report on Saturday. Sanford C. Bernstein upped their price target on Canadian Pacific Kansas City from $85.41 to $90.00 and gave the company a "market perform" rating in a research report on Tuesday, March 31st. Barclays set a $99.00 price target on Canadian Pacific Kansas City and gave the company an "overweight" rating in a research report on Thursday, April 30th. ATB Cormark Capital Markets cut Canadian Pacific Kansas City from a "strong-buy" rating to a "moderate buy" rating in a research report on Friday, April 17th. Finally, Royal Bank Of Canada decreased their price target on Canadian Pacific Kansas City from $128.00 to $127.00 and set an "outperform" rating on the stock in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $95.89.

About Canadian Pacific Kansas City

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.

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