Oppenheimer Asset Management Inc. Sells 28,495 Shares of Canadian Pacific Kansas City Limited $CP

Oppenheimer Asset Management Inc. lowered its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 16.0% during the 2nd quarter, Holdings Channel reports. The firm owned 149,775 shares of the transportation company’s stock after selling 28,495 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Canadian Pacific Kansas City were worth $12,978,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CP. GAMMA Investing LLC boosted its holdings in shares of Canadian Pacific Kansas City by 3.8% during the 2nd quarter. GAMMA Investing LLC now owns 3,511 shares of the transportation company’s stock valued at $304,000 after purchasing an additional 130 shares during the last quarter. Foster Group Inc. increased its holdings in shares of Canadian Pacific Kansas City by 3.3% in the second quarter. Foster Group Inc. now owns 4,279 shares of the transportation company’s stock worth $371,000 after purchasing an additional 137 shares during the last quarter. Modern Wealth Management LLC increased its holdings in shares of Canadian Pacific Kansas City by 1.2% in the first quarter. Modern Wealth Management LLC now owns 12,170 shares of the transportation company’s stock worth $950,000 after purchasing an additional 142 shares during the last quarter. Altshuler Shaham Ltd lifted its position in shares of Canadian Pacific Kansas City by 1.2% in the first quarter. Altshuler Shaham Ltd now owns 11,766 shares of the transportation company’s stock worth $926,000 after buying an additional 144 shares in the last quarter. Finally, Essex Financial Services Inc. lifted its position in shares of Canadian Pacific Kansas City by 3.2% in the first quarter. Essex Financial Services Inc. now owns 4,785 shares of the transportation company’s stock worth $376,000 after buying an additional 149 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CP. Scotiabank reissued an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 16th. Canadian Imperial Bank of Commerce lifted 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 note on Thursday, June 25th. Weiss Ratings raised Canadian Pacific Kansas City from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. Stephens upgraded Canadian Pacific Kansas City to a “hold” rating in a research report on Wednesday, July 8th. Finally, Argus set a $105.00 target price on shares of Canadian Pacific Kansas City in a report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $108.60.

Canadian Pacific Kansas City Stock Down 0.4%

Shares of NYSE:CP opened at $93.53 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. Canadian Pacific Kansas City Limited has a 12 month low of $68.42 and a 12 month high of $94.66. The company has a 50-day moving average price of $89.72 and a 200 day moving average price of $85.41. The company has a market cap of $82.16 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 1.84 and a beta of 1.10.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data on Wednesday, July 29th. The transportation company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%.The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the previous year, the firm posted $1.12 earnings per share. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities research analysts predict that Canadian Pacific Kansas City Limited will post 3.7 earnings per share for the current year.

Canadian Pacific Kansas City Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Friday, September 25th will be issued a $0.268 dividend. The ex-dividend date is Friday, September 25th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.1%. Canadian Pacific Kansas City’s payout ratio is 25.08%.

Canadian Pacific Kansas City 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.