Principal Financial Group Inc. Trims Stock Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Principal Financial Group Inc. cut its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 70.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 652,944 shares of the transportation company's stock after selling 1,527,431 shares during the quarter. Principal Financial Group Inc. owned approximately 0.07% of Canadian Pacific Kansas City worth $45,816,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CP. Bernard Wealth Management Corp. bought a new position in shares of Canadian Pacific Kansas City during the 4th quarter valued at about $31,000. Millstone Evans Group LLC bought a new position in Canadian Pacific Kansas City during the 4th quarter worth approximately $36,000. Curio Wealth LLC bought a new position in Canadian Pacific Kansas City during the 4th quarter worth approximately $39,000. Curat Global LLC bought a new position in Canadian Pacific Kansas City during the 1st quarter worth approximately $42,000. Finally, Parvin Asset Management LLC bought a new position in Canadian Pacific Kansas City during the 4th quarter worth approximately $43,000. 72.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CP shares. The Goldman Sachs Group restated a "neutral" rating and set a $91.00 price target on shares of Canadian Pacific Kansas City in a research report on Monday, June 2nd. Susquehanna reiterated a "positive" rating and issued a $94.00 price objective (up from $90.00) on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 24th. Argus set a $90.00 price objective on Canadian Pacific Kansas City in a research report on Wednesday, March 26th. Scotiabank reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $91.66.

Canadian Pacific Kansas City Stock Up 0.8%

Canadian Pacific Kansas City stock traded up $0.63 during mid-day trading on Wednesday, hitting $81.34. The company had a trading volume of 2,313,339 shares, compared to its average volume of 2,812,051. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The stock's 50 day moving average price is $79.64 and its two-hundred day moving average price is $76.46. Canadian Pacific Kansas City Limited has a 12 month low of $66.49 and a 12 month high of $87.72. The company has a market capitalization of $74.95 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 2.26 and a beta of 1.07.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its earnings results on Wednesday, April 30th. The transportation company reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 earnings per share. As a group, sell-side analysts anticipate 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 firm 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 dividend of $0.1644 per share. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.13. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, June 27th. Canadian Pacific Kansas City's dividend payout ratio is presently 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.