TD Asset Management Inc Sells 43,238 Shares of Canadian Pacific Kansas City Limited $CP

Key Points

• TD Asset Management Inc. trimmed its stake in Canadian Pacific Kansas City by 43,238 shares in the fourth quarter, leaving it with about 18.6 million shares worth roughly $1.37 billion.
• Canadian Pacific Kansas City reported Q1 earnings and revenue below analyst expectations, with EPS of $0.76 versus $0.78 expected and revenue of $2.66 billion versus $2.70 billion forecast.
• The company raised its quarterly dividend to $0.268 per share, or $1.07 annualized, for a yield of about 1.2%. Despite a recent dip, analysts still view the stock favorably with a consensus Moderate Buy rating and an average target price of $96.50.

TD Asset Management Inc cut its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,598,991 shares of the transportation company's stock after selling 43,238 shares during the quarter. Canadian Pacific Kansas City comprises approximately 1.1% of TD Asset Management Inc's holdings, making the stock its 20th biggest position. TD Asset Management Inc owned approximately 2.07% of Canadian Pacific Kansas City worth $1,371,095,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CP. Intech Investment Management LLC boosted its position in Canadian Pacific Kansas City by 16.0% during the first quarter. Intech Investment Management LLC now owns 21,276 shares of the transportation company's stock worth $1,493,000 after purchasing an additional 2,940 shares during the period. Acadian Asset Management LLC bought a new position in Canadian Pacific Kansas City during the first quarter worth $35,000. Sivia Capital Partners LLC bought a new position in Canadian Pacific Kansas City during the second quarter worth $206,000. Prudential Financial Inc. boosted its position in Canadian Pacific Kansas City by 8.7% during the second quarter. Prudential Financial Inc. now owns 5,183 shares of the transportation company's stock worth $411,000 after purchasing an additional 415 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in Canadian Pacific Kansas City by 39.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,307 shares of the transportation company's stock worth $104,000 after purchasing an additional 369 shares during the period. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Stock Down 1.1%

CP stock opened at $89.16 on Thursday. The company has a market cap of $79.10 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 1.93 and a beta of 1.09. The business has a 50-day simple moving average of $83.96 and a 200 day simple moving average of $79.27. Canadian Pacific Kansas City Limited has a 52 week low of $68.42 and a 52 week high of $91.50. The company has a quick ratio of 0.57, a current ratio of 0.67 and a debt-to-equity ratio of 0.46.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its quarterly 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). The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.70 billion. Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. The firm's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the firm earned $1.06 EPS. Sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.76 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business 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. This represents a $1.07 dividend on an annualized basis and a yield of 1.2%. This is a boost 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 payout ratio is presently 20.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Scotiabank cut shares of Canadian Pacific Kansas City from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 9th. Royal Bank Of Canada reduced their price objective on shares of Canadian Pacific Kansas City from $128.00 to $127.00 and set an "outperform" rating for the company in a research report on Thursday, April 30th. National Bank Financial raised shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 15th. Barclays set a $99.00 price objective on shares of Canadian Pacific Kansas City and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Finally, Citigroup lifted their price objective on shares of Canadian Pacific Kansas City from $93.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Canadian Pacific Kansas City has an average rating of "Moderate Buy" and an average target price of $96.50.

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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