Goldman Sachs Group Inc. trimmed its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP – Free Report) (TSE:CP) by 49.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,107,605 shares of the transportation company’s stock after selling 5,897,094 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Canadian Pacific Kansas City were worth $449,703,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the stock. Intech Investment Management LLC increased its holdings in shares of Canadian Pacific Kansas City by 16.0% during the first quarter. Intech Investment Management LLC now owns 21,276 shares of the transportation company’s stock worth $1,493,000 after buying an additional 2,940 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Canadian Pacific Kansas City in the 1st quarter worth about $35,000. Sivia Capital Partners LLC bought a new position in Canadian Pacific Kansas City in the second quarter valued at about $206,000. Prudential Financial Inc. raised its position in Canadian Pacific Kansas City by 8.7% in the second quarter. Prudential Financial Inc. now owns 5,183 shares of the transportation company’s stock valued at $411,000 after purchasing an additional 415 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Canadian Pacific Kansas City by 39.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,307 shares of the transportation company’s stock worth $104,000 after purchasing an additional 369 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on CP shares. Royal Bank Of Canada dropped their price objective on shares of Canadian Pacific Kansas City from $128.00 to $127.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Canadian Pacific Kansas City in a report on Friday, May 29th. National Bank Financial raised Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. ATB Cormark Capital Markets downgraded Canadian Pacific Kansas City from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, April 17th. Finally, Scotiabank downgraded Canadian Pacific Kansas City from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $96.50.
Canadian Pacific Kansas City Price Performance
Shares of NYSE:CP opened at $89.44 on Friday. Canadian Pacific Kansas City Limited has a twelve month low of $68.42 and a twelve month high of $91.50. The stock’s 50 day moving average is $84.16 and its 200-day moving average is $79.40. The company has a quick ratio of 0.57, a current ratio of 0.67 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $79.34 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 1.91 and a beta of 1.09.
Canadian Pacific Kansas City (NYSE:CP – Get Free Report) (TSE:CP) last announced its quarterly earnings results on Wednesday, April 29th. The transportation company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.02). Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter last year, the firm posted $1.06 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. Sell-side analysts forecast that Canadian Pacific Kansas City Limited will post 3.76 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, July 27th. Investors of record on Friday, June 26th will be given a $0.268 dividend. This represents a $1.07 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, June 26th. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. Canadian Pacific Kansas City’s payout ratio is 20.68%.
Canadian Pacific Kansas City Company Profile
Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.
CPKC’s core business is freight transportation and related logistics services.
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