Delta Investment Management LLC Reduces Stock Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Delta Investment Management LLC lowered its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 14.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,991 shares of the transportation company’s stock after selling 650 shares during the period. Delta Investment Management LLC’s holdings in Canadian Pacific Kansas City were worth $316,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc bought a new position in shares of Canadian Pacific Kansas City in the 3rd quarter worth about $481,016,000. Sustainable Growth Advisers LP increased its stake in shares of Canadian Pacific Kansas City by 151.4% in the 3rd quarter. Sustainable Growth Advisers LP now owns 7,847,292 shares of the transportation company’s stock worth $583,917,000 after acquiring an additional 4,726,098 shares in the last quarter. Causeway Capital Management LLC bought a new position in shares of Canadian Pacific Kansas City in the 3rd quarter worth about $305,505,000. Toronto Dominion Bank increased its stake in shares of Canadian Pacific Kansas City by 1,122.4% in the 3rd quarter. Toronto Dominion Bank now owns 3,398,403 shares of the transportation company’s stock worth $252,875,000 after acquiring an additional 3,120,385 shares in the last quarter. Finally, Rothschild & Co Wealth Management UK Ltd increased its stake in shares of Canadian Pacific Kansas City by 100.5% in the 3rd quarter. Rothschild & Co Wealth Management UK Ltd now owns 4,766,995 shares of the transportation company’s stock worth $354,712,000 after acquiring an additional 2,390,030 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Raymond James raised their price objective on shares of Canadian Pacific Kansas City from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. TD Securities lowered shares of Canadian Pacific Kansas City from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Bank of America dropped their price objective on shares of Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating on the stock in a report on Thursday. Susquehanna Bancshares downgraded shares of Canadian Pacific Kansas City from a “positive” rating to a “neutral” rating and dropped their price objective for the stock from $90.00 to $87.00 in a report on Monday, January 8th. Finally, Stifel Nicolaus dropped their price objective on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Thursday. Twelve analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.42.

Canadian Pacific Kansas City Price Performance

Shares of CP stock traded down $0.41 during mid-day trading on Friday, hitting $81.68. The company had a trading volume of 1,717,833 shares, compared to its average volume of 1,899,530. Canadian Pacific Kansas City Limited has a 52-week low of $68.92 and a 52-week high of $91.58. The stock’s 50 day moving average price is $87.04 and its 200-day moving average price is $79.80. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.49 and a quick ratio of 0.46. The company has a market capitalization of $76.18 billion, a P/E ratio of 26.17, a P/E/G ratio of 2.12 and a beta of 0.94.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, April 24th. The transportation company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.01). Canadian Pacific Kansas City had a return on equity of 8.48% and a net margin of 28.27%. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.18 earnings per share for the current year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, June 28th will be issued a $0.141 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Friday, June 28th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 17.95%.

About Canadian Pacific Kansas City

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.