WCM Investment Management LLC Cuts Stock Holdings in Canadian Pacific Kansas City Limited $CP

Key Points

• WCM Investment Management LLC reduced its stake in Canadian Pacific Kansas City Limited by 1.3%, bringing its total holdings to approximately 16.73 million shares, valued at about $1.31 billion.
• The company reported Q2 earnings of $0.81 per share, missing analyst estimates of $0.82, despite a year-over-year revenue increase of 2.7% to $2.72 billion.
• Canadian Pacific Kansas City declared a quarterly dividend of $0.1651, raising its annual dividend yield to 0.9%, effective from October 27th.

WCM Investment Management LLC lessened its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 1.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,730,413 shares of the transportation company's stock after selling 224,999 shares during the quarter. Canadian Pacific Kansas City makes up 3.0% of WCM Investment Management LLC's holdings, making the stock its 10th largest holding. WCM Investment Management LLC owned about 1.82% of Canadian Pacific Kansas City worth $1,310,159,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. North Capital Inc. bought a new position in Canadian Pacific Kansas City in the 1st quarter valued at $27,000. Cornerstone Planning Group LLC raised its holdings in shares of Canadian Pacific Kansas City by 209.8% in the first quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company's stock valued at $28,000 after acquiring an additional 256 shares in the last quarter. Cheviot Value Management LLC bought a new stake in shares of Canadian Pacific Kansas City in the first quarter valued at about $30,000. Hexagon Capital Partners LLC lifted its stake in Canadian Pacific Kansas City by 49.5% in the first quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock worth $35,000 after acquiring an additional 164 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Canadian Pacific Kansas City in the 1st quarter valued at about $35,000. Institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Price Performance

NYSE CP opened at $76.84 on Thursday. The firm's fifty day simple moving average is $75.40 and its two-hundred day simple moving average is $76.58. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $83.65. The firm has a market capitalization of $69.68 billion, a P/E ratio of 23.94, a P/E/G ratio of 2.15 and a beta of 1.08.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its quarterly earnings results on Wednesday, July 30th. The transportation company reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The business had revenue of $2.72 billion during the quarter, compared to analysts' expectations of $2.76 billion. During the same quarter last year, the business posted $1.05 earnings per share. The company's quarterly revenue was up 2.7% compared to the same quarter last year. Analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS 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, October 27th. Shareholders of record on Friday, September 26th will be paid a $0.1651 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. The ex-dividend date is Friday, September 26th. Canadian Pacific Kansas City's dividend payout ratio (DPR) is 20.56%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CP. Weiss Ratings reiterated a "hold (c+)" rating on shares of Canadian Pacific Kansas City in a research note on Wednesday, October 8th. Scotiabank restated an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 10th. National Bank Financial raised Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 30th. Susquehanna reduced their price target on Canadian Pacific Kansas City from $91.00 to $88.00 and set a "positive" rating for the company in a research report on Thursday, September 25th. Finally, Wall Street Zen cut Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Canadian Pacific Kansas City has an average rating of "Moderate Buy" and a consensus price target of $91.38.

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.

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