Cullen Investment Group LTD. Decreases Stock Holdings in Canadian Pacific Kansas City Limited $CP

Cullen Investment Group LTD. trimmed its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 0.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,426 shares of the transportation company’s stock after selling 250 shares during the quarter. Cullen Investment Group LTD.’s holdings in Canadian Pacific Kansas City were worth $2,491,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CP. Ethic Inc. purchased a new stake in shares of Canadian Pacific Kansas City during the fourth quarter valued at approximately $203,000. Graham Capital Management L.P. bought a new position in Canadian Pacific Kansas City during the fourth quarter valued at $530,000. Gotham Asset Management LLC bought a new position in Canadian Pacific Kansas City during the fourth quarter valued at $1,046,000. Lazard Asset Management LLC grew its holdings in Canadian Pacific Kansas City by 22.8% during the fourth quarter. Lazard Asset Management LLC now owns 1,025 shares of the transportation company’s stock valued at $74,000 after purchasing an additional 190 shares during the period. Finally, Millennium Management LLC grew its holdings in Canadian Pacific Kansas City by 432.8% during the fourth quarter. Millennium Management LLC now owns 411,623 shares of the transportation company’s stock valued at $29,789,000 after purchasing an additional 334,365 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Price Performance

Canadian Pacific Kansas City stock opened at $75.14 on Friday. Canadian Pacific Kansas City Limited has a one year low of $66.49 and a one year high of $87.72. The business has a fifty day moving average price of $76.51 and a 200-day moving average price of $76.41. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.93 and a quick ratio of 0.81. The firm has a market capitalization of $68.14 billion, a P/E ratio of 23.41, a PEG ratio of 2.12 and a beta of 1.06.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Wednesday, July 30th. The transportation company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%.The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the previous year, the business earned $1.05 earnings per share. Canadian Pacific Kansas City’s revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, September 26th will be given a $0.1651 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.16. The ex-dividend date is Friday, September 26th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 20.56%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Bank of America increased their price objective on Canadian Pacific Kansas City from $82.00 to $90.00 and gave the company a “buy” rating in a report on Friday, May 16th. Scotiabank reissued an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 10th. Susquehanna reissued a “positive” rating and set a $94.00 price objective (up from $90.00) on shares of Canadian Pacific Kansas City in a report on Tuesday, June 24th. Citigroup increased their price objective on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Finally, National Bank Financial raised Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.30.

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.