William Blair Investment Management LLC Decreases Stock Position in Canadian Pacific Kansas City Limited $CP

Key Points

• William Blair Investment Management LLC reduced its stake in Canadian Pacific Kansas City Limited by 13.1%, holding 611,365 shares after selling 92,205 shares.
• The company's quarterly earnings report revealed an EPS of $0.81, which fell short of analysts' estimates of $0.82, with revenue reported at $2.72 billion.
• Canadian Pacific Kansas City announced an increased quarterly dividend of $0.1651, up from the previous $0.16, with a dividend yield of 0.9% and a payout ratio of 20.56%.

William Blair Investment Management LLC cut its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 13.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 611,365 shares of the transportation company's stock after selling 92,205 shares during the quarter. William Blair Investment Management LLC owned 0.07% of Canadian Pacific Kansas City worth $48,463,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CP. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Canadian Pacific Kansas City by 8.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 113,117 shares of the transportation company's stock valued at $7,942,000 after purchasing an additional 8,627 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Canadian Pacific Kansas City by 28.8% in the first quarter. Janney Montgomery Scott LLC now owns 101,211 shares of the transportation company's stock valued at $7,106,000 after purchasing an additional 22,606 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Canadian Pacific Kansas City by 19.3% in the first quarter. QRG Capital Management Inc. now owns 15,276 shares of the transportation company's stock valued at $1,072,000 after purchasing an additional 2,476 shares during the period. Intact Investment Management Inc. boosted its stake in Canadian Pacific Kansas City by 189.3% during the 1st quarter. Intact Investment Management Inc. now owns 603,041 shares of the transportation company's stock valued at $42,326,000 after acquiring an additional 394,580 shares during the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in Canadian Pacific Kansas City during the 1st quarter valued at $20,398,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Up 1.5%

Shares of NYSE:CP opened at $76.61 on Friday. The stock has a market capitalization of $69.47 billion, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 2.16 and a beta of 1.08. Canadian Pacific Kansas City Limited has a 1-year low of $66.49 and a 1-year high of $83.65. The company's fifty day moving average is $75.44 and its two-hundred day moving average is $76.68. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 0.93.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released 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). Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%.The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same period last year, the business earned $1.05 EPS. The firm's revenue was up 2.7% on a year-over-year basis. Equities analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

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

Analyst Ratings Changes

A number of research firms have commented on CP. Citigroup reduced their price objective on shares of Canadian Pacific Kansas City from $90.00 to $88.00 and set a "buy" rating on the stock in a research note on Monday, October 13th. Susquehanna reduced their price objective on shares of Canadian Pacific Kansas City from $91.00 to $88.00 and set a "positive" rating on the stock in a research note on Thursday, September 25th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Canadian Pacific Kansas City in a research note on Wednesday, October 8th. Barclays set a $90.00 price objective on shares of Canadian Pacific Kansas City and gave the company an "overweight" rating in a research note on Thursday, October 2nd. Finally, National Bankshares reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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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