Canadian Pacific Kansas City (NYSE:CP) Shares Down 3.9%

Canadian Pacific Kansas City Limited (NYSE:CP - Get Free Report) TSE: CP's share price dropped 3.9% during mid-day trading on Wednesday . The stock traded as low as $83.53 and last traded at $84.34. Approximately 991,825 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 2,036,416 shares. The stock had previously closed at $87.72.

Wall Street Analysts Forecast Growth

CP has been the subject of several recent research reports. StockNews.com raised Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a research note on Wednesday, January 31st. TD Securities downgraded Canadian Pacific Kansas City from a "buy" rating to a "hold" rating in a research note on Monday, January 8th. Susquehanna Bancshares downgraded Canadian Pacific Kansas City from a "positive" rating to a "neutral" rating and lowered their price objective for the company from $90.00 to $87.00 in a research note on Monday, January 8th. Bank of America increased their target price on shares of Canadian Pacific Kansas City from $87.00 to $97.00 and gave the company a "buy" rating in a research report on Wednesday, April 10th. Finally, Scotiabank restated a "sector perform" rating on shares of Canadian Pacific Kansas City in a report on Monday, March 25th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $97.22.

Canadian Pacific Kansas City Trading Down 6.6 %

The firm's 50-day moving average is $87.18 and its 200-day moving average is $79.73. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.46. The firm has a market cap of $76.41 billion, a price-to-earnings ratio of 26.09, a P/E/G ratio of 2.22 and a beta of 0.94.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its quarterly earnings results on Tuesday, January 30th. The transportation company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.04. Canadian Pacific Kansas City had a net margin of 31.29% and a return on equity of 8.52%. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.71 billion. As a group, sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.2 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, April 29th. Investors of record on Thursday, March 28th will be given a $0.1415 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.57 annualized dividend and a yield of 0.69%. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.14. Canadian Pacific Kansas City's dividend payout ratio (DPR) is presently 17.83%.

Hedge Funds Weigh In On Canadian Pacific Kansas City

A number of hedge funds have recently bought and sold shares of the company. Dakota Wealth Management boosted its holdings in Canadian Pacific Kansas City by 11.5% during the 1st quarter. Dakota Wealth Management now owns 19,492 shares of the transportation company's stock worth $1,719,000 after acquiring an additional 2,016 shares during the last quarter. Simplicity Wealth LLC purchased a new position in Canadian Pacific Kansas City during the 1st quarter worth $380,000. Assenagon Asset Management S.A. boosted its holdings in Canadian Pacific Kansas City by 2.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 23,648 shares of the transportation company's stock worth $2,087,000 after acquiring an additional 673 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in Canadian Pacific Kansas City during the 1st quarter worth $450,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of Canadian Pacific Kansas City by 7.9% in the 1st quarter. Global Retirement Partners LLC now owns 3,198 shares of the transportation company's stock worth $282,000 after buying an additional 233 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

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.