Sound View Wealth Advisors Group LLC Reduces Stock Position in Canadian Pacific Kansas City Limited $CP

Sound View Wealth Advisors Group LLC trimmed its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 68.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,011 shares of the transportation company’s stock after selling 22,109 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Canadian Pacific Kansas City were worth $794,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CP. Redmond Asset Management LLC raised its position in shares of Canadian Pacific Kansas City by 0.5% in the first quarter. Redmond Asset Management LLC now owns 31,617 shares of the transportation company’s stock valued at $2,220,000 after buying an additional 148 shares during the last quarter. Accretive Wealth Partners LLC grew its stake in Canadian Pacific Kansas City by 1.3% in the 2nd quarter. Accretive Wealth Partners LLC now owns 11,806 shares of the transportation company’s stock worth $936,000 after acquiring an additional 157 shares during the period. Financial Partners Group Inc grew its stake in Canadian Pacific Kansas City by 0.3% in the 1st quarter. Financial Partners Group Inc now owns 49,334 shares of the transportation company’s stock worth $3,464,000 after acquiring an additional 158 shares during the period. Lindbrook Capital LLC lifted its stake in shares of Canadian Pacific Kansas City by 6.3% during the 1st quarter. Lindbrook Capital LLC now owns 2,708 shares of the transportation company’s stock worth $190,000 after purchasing an additional 161 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Canadian Pacific Kansas City by 9.0% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,153 shares of the transportation company’s stock worth $171,000 after purchasing an additional 177 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Stock Performance

NYSE CP opened at $70.90 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.63 and a quick ratio of 0.54. Canadian Pacific Kansas City Limited has a 1-year low of $66.49 and a 1-year high of $83.65. The firm has a market capitalization of $63.84 billion, a P/E ratio of 21.61, a P/E/G ratio of 2.03 and a beta of 1.08. The business’s 50-day simple moving average is $74.93 and its 200-day simple moving average is $76.87.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Wednesday, October 29th. The transportation company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.01). The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Canadian Pacific Kansas City had a net margin of 28.41% and a return on equity of 8.79%. During the same quarter in the previous year, the business posted $0.99 EPS. Equities analysts predict that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Wednesday, December 31st will be paid a $0.228 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.91 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. Canadian Pacific Kansas City’s payout ratio is 19.51%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CP shares. Evercore ISI dropped their target price on Canadian Pacific Kansas City from $88.00 to $87.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. National Bankshares restated an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Thursday, September 18th. Stephens increased their price objective on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. National Bank Financial raised shares of Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 30th. Finally, Jefferies Financial Group set a $90.00 price target on shares of Canadian Pacific Kansas City in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Canadian Pacific Kansas City has an average rating of “Moderate Buy” and a consensus price target of $91.69.

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.