Titan Global Capital Management USA LLC Cuts Stock Position in Canadian Pacific Kansas City Limited $CP

Key Points

• Titan Global Capital Management cut its Canadian Pacific Kansas City position by 67.6% in the second quarter, selling 28,933 shares and retaining 13,847 shares valued at approximately $1.2 million.
• Analysts remain broadly positive, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $108.60; several firms recently raised their targets.
• Canadian Pacific Kansas City beat quarterly earnings and revenue estimates, reporting $0.92 in EPS and $2.93 billion in revenue, while announcing a quarterly dividend of $0.268 per share.

Titan Global Capital Management USA LLC lessened its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 67.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,847 shares of the transportation company's stock after selling 28,933 shares during the period. Titan Global Capital Management USA LLC's holdings in Canadian Pacific Kansas City were worth $1,200,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CP. Prosperity Bancshares Inc bought a new position in Canadian Pacific Kansas City during the fourth quarter valued at $26,000. Gilpin Wealth Management LLC bought a new stake in shares of Canadian Pacific Kansas City in the 4th quarter worth about $29,000. McMillan Office Inc. bought a new stake in shares of Canadian Pacific Kansas City in the 4th quarter worth about $31,000. Acadian Asset Management LLC purchased a new stake in shares of Canadian Pacific Kansas City during the 1st quarter valued at about $35,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of Canadian Pacific Kansas City during the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wells Fargo & Company increased their price target on shares of Canadian Pacific Kansas City from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, July 8th. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 16th. Citizens Jmp initiated coverage on Canadian Pacific Kansas City in a report on Wednesday, July 15th. They issued a "market perform" rating for the company. Royal Bank Of Canada reissued an "outperform" rating and set a $145.00 target price (up from $139.00) on shares of Canadian Pacific Kansas City in a research report on Thursday, July 30th. Finally, Canadian Imperial Bank of Commerce increased their price target on Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the company an "outperformer" rating in a report on Thursday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $108.60.

Canadian Pacific Kansas City Price Performance

Shares of CP stock opened at $93.53 on Friday. Canadian Pacific Kansas City Limited has a 52-week low of $68.42 and a 52-week high of $94.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.59. The firm has a market capitalization of $82.16 billion, a P/E ratio of 30.08, a P/E/G ratio of 1.84 and a beta of 1.10. The stock has a 50 day moving average price of $89.72 and a 200 day moving average price of $85.41.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings data on Wednesday, July 29th. The transportation company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%.Canadian Pacific Kansas City's quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.12 EPS. As a group, sell-side analysts predict that Canadian Pacific Kansas City Limited will post 3.7 earnings per share for the current year.

Canadian Pacific Kansas City Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Friday, September 25th will be paid a dividend of $0.268 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 25th. Canadian Pacific Kansas City's payout ratio is currently 25.08%.

Canadian Pacific Kansas City Profile

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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