K.J. Harrison & Partners Inc Cuts Position in Canadian Pacific Kansas City Limited $CP

K.J. Harrison & Partners Inc trimmed its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 35.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,607 shares of the transportation company’s stock after selling 32,453 shares during the period. K.J. Harrison & Partners Inc’s holdings in Canadian Pacific Kansas City were worth $4,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CP. Prosperity Bancshares Inc bought a new position in Canadian Pacific Kansas City during the fourth quarter valued at $26,000. Gilpin Wealth Management LLC purchased a new position in shares of Canadian Pacific Kansas City in the 4th quarter worth $29,000. McMillan Office Inc. bought a new stake in shares of Canadian Pacific Kansas City in the 4th quarter worth about $31,000. Acadian Asset Management LLC bought a new stake in shares of Canadian Pacific Kansas City in the 1st quarter worth about $35,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of Canadian Pacific Kansas City during the 3rd quarter valued at about $36,000. 72.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on CP. Canadian Imperial Bank of Commerce lifted their price target on Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the stock an “outperformer” rating in a research report on Thursday, June 25th. Citigroup upped their price objective on Canadian Pacific Kansas City from $93.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Evercore set a $91.00 price objective on Canadian Pacific Kansas City and gave the company an “outperform” rating in a research note on Thursday, June 25th. Susquehanna reiterated a “positive” rating and issued a $104.00 target price on shares of Canadian Pacific Kansas City in a report on Friday, June 5th. Finally, Weiss Ratings raised Canadian Pacific Kansas City from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Canadian Pacific Kansas City presently has a consensus rating of “Moderate Buy” and an average target price of $104.30.

Canadian Pacific Kansas City Stock Performance

Canadian Pacific Kansas City stock opened at $87.91 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.67 and a quick ratio of 0.57. The firm has a market capitalization of $77.80 billion, a P/E ratio of 27.13, a price-to-earnings-growth ratio of 1.72 and a beta of 1.10. Canadian Pacific Kansas City Limited has a 1-year low of $68.42 and a 1-year high of $91.52. The company’s 50-day moving average is $87.29 and its 200 day moving average is $81.62.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, April 29th. The transportation company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.02). The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 EPS. Research analysts forecast that Canadian Pacific Kansas City Limited will post 3.75 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, July 27th. Investors of record on Friday, June 26th will be issued a dividend of $0.268 per share. This represents a $1.07 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, June 26th. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 24.07%.

About Canadian Pacific Kansas City

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.