Pinnacle Associates Ltd. Sells 9,193 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Pinnacle Associates Ltd. decreased its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 2.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 303,080 shares of the transportation company's stock after selling 9,193 shares during the period. Pinnacle Associates Ltd.'s holdings in Canadian Pacific Kansas City were worth $21,279,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CP. Capital Insight Partners LLC raised its holdings in shares of Canadian Pacific Kansas City by 0.4% in the 1st quarter. Capital Insight Partners LLC now owns 40,700 shares of the transportation company's stock worth $2,858,000 after buying an additional 143 shares in the last quarter. Davidson Trust Co. increased its holdings in Canadian Pacific Kansas City by 3.2% during the 1st quarter. Davidson Trust Co. now owns 4,660 shares of the transportation company's stock valued at $327,000 after purchasing an additional 144 shares in the last quarter. Advisory Services Network LLC raised its position in Canadian Pacific Kansas City by 2.2% in the 4th quarter. Advisory Services Network LLC now owns 7,194 shares of the transportation company's stock valued at $521,000 after purchasing an additional 152 shares during the last quarter. Transatlantique Private Wealth LLC raised its position in Canadian Pacific Kansas City by 1.6% in the 4th quarter. Transatlantique Private Wealth LLC now owns 10,066 shares of the transportation company's stock valued at $728,000 after purchasing an additional 157 shares during the last quarter. Finally, Tradewinds LLC. raised its position in Canadian Pacific Kansas City by 3.8% in the 1st quarter. Tradewinds LLC. now owns 4,326 shares of the transportation company's stock valued at $304,000 after purchasing an additional 157 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on CP shares. Stifel Nicolaus cut their price objective on Canadian Pacific Kansas City from $85.00 to $79.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Royal Bank Of Canada cut their price objective on Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Jefferies Financial Group cut their price objective on Canadian Pacific Kansas City from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Wall Street Zen downgraded Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Finally, Citigroup lifted their target price on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Canadian Pacific Kansas City currently has an average rating of "Moderate Buy" and a consensus price target of $91.95.

Canadian Pacific Kansas City Trading Up 0.9%

Shares of Canadian Pacific Kansas City stock traded up $0.72 during trading on Friday, reaching $76.86. 2,593,114 shares of the company were exchanged, compared to its average volume of 2,624,872. The business has a 50-day moving average price of $80.35 and a 200-day moving average price of $76.93. The company has a quick ratio of 0.70, a current ratio of 0.81 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $70.56 billion, a price-to-earnings ratio of 25.97, a P/E/G ratio of 2.13 and a beta of 1.07. Canadian Pacific Kansas City Limited has a twelve month low of $66.49 and a twelve month high of $87.72.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its earnings results on Wednesday, April 30th. The transportation company reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.56 billion. Canadian Pacific Kansas City had a return on equity of 8.68% and a net margin of 25.99%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 earnings per share. Sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be issued a $0.1644 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.86%. 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 22.30%.

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.