Independence Bank of Kentucky Grows Stake in Canadian Pacific Kansas City Limited (NYSE:CP)

Independence Bank of Kentucky lifted its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 70.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 940 shares of the transportation company’s stock after purchasing an additional 390 shares during the period. Independence Bank of Kentucky’s holdings in Canadian Pacific Kansas City were worth $83,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of CP. Sands Capital Management LLC purchased a new stake in shares of Canadian Pacific Kansas City in the 3rd quarter valued at approximately $31,000. Anchor Investment Management LLC purchased a new position in Canadian Pacific Kansas City during the 4th quarter worth $40,000. McGlone Suttner Wealth Management Inc. purchased a new position in Canadian Pacific Kansas City during the 4th quarter worth $45,000. Partnership Wealth Management LLC acquired a new stake in shares of Canadian Pacific Kansas City in the 4th quarter worth $52,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Canadian Pacific Kansas City in the 4th quarter worth $70,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

CP has been the subject of several recent analyst reports. Wells Fargo & Company initiated coverage on shares of Canadian Pacific Kansas City in a research note on Friday, June 7th. They issued an “overweight” rating and a $90.00 price objective for the company. Benchmark reiterated a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, April 25th. Stifel Nicolaus reduced their price objective on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. 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. Finally, Scotiabank reiterated a “sector perform” rating on shares of Canadian Pacific Kansas City in a research note on Monday, March 25th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Canadian Pacific Kansas City currently has an average rating of “Hold” and a consensus target price of $96.32.

Canadian Pacific Kansas City Stock Performance

Shares of Canadian Pacific Kansas City stock traded down $0.10 during trading on Friday, hitting $78.73. 2,330,986 shares of the stock were exchanged, compared to its average volume of 2,237,094. The stock’s fifty day moving average is $79.74 and its 200 day moving average is $82.10. The stock has a market cap of $73.45 billion, a PE ratio of 25.23, a P/E/G ratio of 2.25 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.43 and a current ratio of 0.49. Canadian Pacific Kansas City Limited has a 12 month low of $68.92 and a 12 month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly 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). The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.59 billion. Canadian Pacific Kansas City had a return on equity of 8.48% and a net margin of 28.27%. As a group, sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.14 EPS 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. Investors of record on Friday, June 28th will be given 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 0.72%. Canadian Pacific Kansas City’s dividend payout ratio 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.