Foster Victor Wealth Advisors LLC lowered its stake in Canadian Pacific Kansas City Limited (NYSE:CP – Free Report) (TSE:CP) by 15.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,586 shares of the transportation company’s stock after selling 40,642 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Canadian Pacific Kansas City were worth $19,271,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Canadian Pacific Kansas City during the second quarter worth $802,983,000. The Manufacturers Life Insurance Company bought a new position in shares of Canadian Pacific Kansas City in the 2nd quarter valued at $657,672,000. Legal & General Group Plc acquired a new stake in shares of Canadian Pacific Kansas City during the 2nd quarter valued at $604,797,000. Jupiter Topco LLC acquired a new stake in shares of Canadian Pacific Kansas City during the 2nd quarter valued at $576,687,000. Finally, Canada Pension Plan Investment Board bought a new stake in Canadian Pacific Kansas City during the 2nd quarter worth $542,469,000. Institutional investors own 72.20% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on CP shares. Canadian Imperial Bank of Commerce boosted their price objective on Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the stock an “outperformer” rating in a research report on Thursday, June 25th. Wells Fargo & Company increased their target price on Canadian Pacific Kansas City from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Citigroup reiterated a “cautious” rating on shares of Canadian Pacific Kansas City in a research report on Wednesday, October 7th. Scotiabank reissued an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 16th. Finally, Evercore set a $99.00 price target on Canadian Pacific Kansas City in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and an average price target of $111.83.
Check Out Our Latest Report on Canadian Pacific Kansas City
Canadian Pacific Kansas City Trading Up 0.9%
Shares of NYSE CP opened at $88.12 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.59. Canadian Pacific Kansas City Limited has a 52-week low of $68.42 and a 52-week high of $96.90. The firm has a 50 day moving average price of $89.30 and a two-hundred day moving average price of $88.11. The stock has a market cap of $77.11 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 1.84 and a beta of 1.13.
Canadian Pacific Kansas City (NYSE:CP – Get Free Report) (TSE:CP) last released its quarterly earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. Canadian Pacific Kansas City had a net margin of 25.02% and a return on equity of 9.02%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 earnings per share. As a group, equities analysts forecast that Canadian Pacific Kansas City Limited will post 3.68 EPS for the current year.
Canadian Pacific Kansas City Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Friday, September 25th will be issued a C$0.27 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, September 25th. Canadian Pacific Kansas City’s dividend payout ratio is presently 24.76%.
Canadian Pacific Kansas City Profile
Canadian Pacific Kansas City Limited (NYSE: CP) is a North American transportation company that operates Canadian Pacific Kansas City (CPKC), a Class I freight railway. The company was created in 2023 through the combination of Canadian Pacific and Kansas City Southern, forming the first single-line railroad connecting Canada, the United States and Mexico.
CPKC transports a broad range of freight, including grain and fertilizers, coal, forest products, automotive goods, energy and chemicals, industrial and consumer products, and intermodal shipments.
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