Canadian Pacific Kansas City Limited (NYSE:CP) Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank has reduced its stake in Canadian Pacific Kansas City Limited by 1.9%, holding 2,656,193 shares worth approximately $186.5 million.
• Canadian Pacific Kansas City reported earnings of $0.81 per share for the last quarter, falling short of analysts' expectations of $0.82, while revenue was also below estimates at $2.72 billion.
• The company has announced an increase in its quarterly dividend to $0.1651 per share, reflecting a positive change from its previous dividend of $0.16.

Swiss National Bank lowered its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 1.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,656,193 shares of the transportation company's stock after selling 52,800 shares during the quarter. Swiss National Bank owned approximately 0.29% of Canadian Pacific Kansas City worth $186,543,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CP. Capital Insight Partners LLC boosted its stake in Canadian Pacific Kansas City by 0.4% during the first quarter. Capital Insight Partners LLC now owns 40,700 shares of the transportation company's stock valued at $2,858,000 after buying an additional 143 shares during the last quarter. Davidson Trust Co. raised its position in Canadian Pacific Kansas City by 3.2% during the first 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 during the period. Advisory Services Network LLC raised its position in Canadian Pacific Kansas City by 2.2% during the fourth 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 period. Transatlantique Private Wealth LLC raised its position in Canadian Pacific Kansas City by 1.6% during the fourth 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 period. Finally, Tradewinds LLC. raised its position in Canadian Pacific Kansas City by 3.8% during the first 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 period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Stock Up 0.5%

NYSE CP traded up $0.40 during midday trading on Tuesday, hitting $74.92. 2,632,343 shares of the company traded hands, compared to its average volume of 3,245,234. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.93 and a quick ratio of 0.81. The company has a market cap of $68.45 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. The company's 50-day simple moving average is $79.04 and its 200-day simple moving average is $76.85. Canadian Pacific Kansas City Limited has a 52 week low of $66.49 and a 52 week high of $87.72.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.76 billion. Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 EPS. As a group, equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be given a $0.1651 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 26th. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. Canadian Pacific Kansas City's payout ratio is 20.56%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Evercore ISI decreased their price objective on Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Royal Bank Of Canada decreased their price objective on Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Citigroup upped their price objective on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Scotiabank restated an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 10th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $91.00 price objective on shares of Canadian Pacific Kansas City in a research report on Monday, June 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Canadian Pacific Kansas City presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.30.

Canadian Pacific Kansas City Company 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.