Sumitomo Mitsui Trust Holdings Inc. Acquires 13,727 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 0.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,229,212 shares of the transportation company’s stock after purchasing an additional 13,727 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.24% of Canadian Pacific Kansas City worth $196,672,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Canadian Pacific Kansas City by 73.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 15,423 shares of the transportation company’s stock worth $1,148,000 after buying an additional 6,521 shares during the period. Glenmede Trust Co. NA acquired a new position in shares of Canadian Pacific Kansas City in the third quarter valued at approximately $3,397,000. Axxcess Wealth Management LLC increased its stake in shares of Canadian Pacific Kansas City by 176.8% during the third quarter. Axxcess Wealth Management LLC now owns 8,099 shares of the transportation company’s stock worth $603,000 after purchasing an additional 5,173 shares during the period. Evergreen Capital Management LLC increased its stake in shares of Canadian Pacific Kansas City by 3.2% during the third quarter. Evergreen Capital Management LLC now owns 6,362 shares of the transportation company’s stock worth $474,000 after purchasing an additional 195 shares during the period. Finally, Element Capital Management LLC acquired a new stake in Canadian Pacific Kansas City during the 3rd quarter worth approximately $7,815,000. 72.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CP shares. Evercore ISI lowered their price objective on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Barclays lifted their price objective on shares of Canadian Pacific Kansas City from $90.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Susquehanna reissued a “neutral” rating and issued a $80.00 price objective on shares of Canadian Pacific Kansas City in a report on Tuesday, June 25th. Bank of America lowered their target price on shares of Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Jefferies Financial Group started coverage on Canadian Pacific Kansas City in a research note on Monday, April 8th. They issued a “buy” rating and a $105.00 price target for the company. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Canadian Pacific Kansas City presently has a consensus rating of “Hold” and a consensus price target of $96.32.

Canadian Pacific Kansas City Stock Performance

NYSE CP opened at $80.74 on Thursday. The firm’s fifty day moving average price is $79.38 and its two-hundred day moving average price is $82.24. The stock has a market cap of $75.32 billion, a PE ratio of 25.88, a PEG ratio of 2.24 and a beta of 0.96. 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 fifty-two week low of $68.92 and a fifty-two week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Wednesday, April 24th. The transportation company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). Canadian Pacific Kansas City had a return on equity of 8.48% and a net margin of 28.27%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. On average, equities analysts expect that Canadian Pacific Kansas City Limited will post 3.14 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.141 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Friday, June 28th. Canadian Pacific Kansas City’s payout ratio is 17.63%.

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.