Raymond James & Associates Buys 38,575 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Raymond James & Associates grew its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 5.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 767,465 shares of the transportation company's stock after acquiring an additional 38,575 shares during the quarter. Raymond James & Associates owned about 0.08% of Canadian Pacific Kansas City worth $67,667,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CP. Sands Capital Management LLC acquired a new stake in Canadian Pacific Kansas City during the third quarter worth about $31,000. Anchor Investment Management LLC purchased a new position in Canadian Pacific Kansas City in the fourth quarter valued at approximately $40,000. Independence Bank of Kentucky acquired a new position in Canadian Pacific Kansas City during the fourth quarter valued at approximately $43,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Canadian Pacific Kansas City during the fourth quarter worth approximately $45,000. Finally, Partnership Wealth Management LLC acquired a new stake in shares of Canadian Pacific Kansas City in the fourth quarter worth $52,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Evercore lowered their price objective on shares of Canadian Pacific Kansas City from $90.00 to $89.00 and set an "outperform" rating for the company in a research report on Thursday, April 25th. Evercore ISI decreased their price objective on shares of Canadian Pacific Kansas City from $90.00 to $89.00 and set an "outperform" rating for the company in a research report on Thursday, April 25th. Susquehanna dropped their target price on Canadian Pacific Kansas City from $84.00 to $80.00 and set a "neutral" rating on the stock in a research report on Thursday, April 25th. Susquehanna Bancshares downgraded Canadian Pacific Kansas City from a "positive" rating to a "neutral" rating and reduced their price target for the company from $90.00 to $87.00 in a report on Monday, January 8th. Finally, Raymond James lifted their price objective on Canadian Pacific Kansas City from $120.00 to $130.00 and gave the stock an "outperform" rating in a report on Monday, April 22nd. Twelve research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Canadian Pacific Kansas City presently has an average rating of "Moderate Buy" and a consensus target price of $96.42.

Canadian Pacific Kansas City Trading Up 0.2 %

CP stock traded up $0.17 during mid-day trading on Friday, reaching $79.73. 2,008,908 shares of the stock traded hands, compared to its average volume of 2,302,688. The stock's fifty day moving average is $86.39 and its 200-day moving average is $80.03. The company has a market cap of $74.36 billion, a P/E ratio of 25.55, a P/E/G ratio of 2.25 and a beta of 0.96. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 0.43. Canadian Pacific Kansas City Limited has a 52-week low of $68.92 and a 52-week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.69 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.01). The business had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.59 billion. Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.48%. As a group, sell-side analysts expect that Canadian Pacific Kansas City Limited will post 3.15 earnings per share for the current year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be paid a $0.141 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.56 dividend on an annualized basis and a yield of 0.71%. Canadian Pacific Kansas City's dividend payout ratio (DPR) is currently 17.95%.

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.