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

Independence Bank of Kentucky lifted its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 155.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,400 shares of the transportation company’s stock after acquiring an additional 1,460 shares during the quarter. Independence Bank of Kentucky’s holdings in Canadian Pacific Kansas City were worth $189,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First National Bank of Hutchinson bought a new position in Canadian Pacific Kansas City in the second quarter worth $333,000. Pictet North America Advisors SA raised its holdings in Canadian Pacific Kansas City by 22.2% in the second quarter. Pictet North America Advisors SA now owns 306,252 shares of the transportation company’s stock worth $24,482,000 after purchasing an additional 55,731 shares in the last quarter. Capital Insight Partners LLC raised its holdings in Canadian Pacific Kansas City by 0.9% in the second quarter. Capital Insight Partners LLC now owns 36,494 shares of the transportation company’s stock worth $2,873,000 after purchasing an additional 334 shares in the last quarter. &PARTNERS raised its holdings in Canadian Pacific Kansas City by 140.5% in the second quarter. &PARTNERS now owns 8,137 shares of the transportation company’s stock worth $641,000 after purchasing an additional 4,753 shares in the last quarter. Finally, American National Bank raised its holdings in Canadian Pacific Kansas City by 5.0% in the second quarter. American National Bank now owns 3,126 shares of the transportation company’s stock worth $246,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Up 2.1 %

Shares of NYSE:CP opened at $82.02 on Monday. The stock has a market capitalization of $76.53 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 2.27 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.43 and a current ratio of 0.51. The stock’s 50-day simple moving average is $80.16 and its two-hundred day simple moving average is $82.63. Canadian Pacific Kansas City Limited has a 52-week low of $68.92 and a 52-week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.31. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same period in the previous year, the firm earned $0.62 EPS. The business’s quarterly revenue was up 13.5% on a year-over-year basis. Analysts expect that Canadian Pacific Kansas City Limited will post 3.11 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be given a dividend of $0.1373 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 0.67%. Canadian Pacific Kansas City’s payout ratio is currently 17.31%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wells Fargo & Company assumed coverage on Canadian Pacific Kansas City in a report on Friday, June 7th. They issued an “overweight” rating and a $90.00 price objective for the company. Barclays reduced their price target on Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, July 16th. Scotiabank upgraded Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, July 10th. Susquehanna restated a “neutral” rating and set a $80.00 price target on shares of Canadian Pacific Kansas City in a report on Wednesday, July 31st. Finally, Jefferies Financial Group reduced their price target on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $96.56.

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.