Wealth Alliance Has $1.01 Million Stock Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Wealth Alliance lessened its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 12,845 shares of the transportation company’s stock after selling 232 shares during the quarter. Wealth Alliance’s holdings in Canadian Pacific Kansas City were worth $1,011,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new position in Canadian Pacific Kansas City in the first quarter worth about $32,000. Chris Bulman Inc acquired a new stake in shares of Canadian Pacific Kansas City during the second quarter worth approximately $35,000. ORG Partners LLC acquired a new stake in shares of Canadian Pacific Kansas City during the second quarter worth approximately $39,000. Tobam acquired a new stake in shares of Canadian Pacific Kansas City during the first quarter worth approximately $51,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Canadian Pacific Kansas City during the second quarter worth approximately $61,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CP. Scotiabank raised shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, July 10th. Wells Fargo & Company began coverage on shares of Canadian Pacific Kansas City in a report on Friday, June 7th. They set an “overweight” rating and a $90.00 price objective for the company. Susquehanna reaffirmed a “neutral” rating and set a $80.00 price objective on shares of Canadian Pacific Kansas City in a report on Wednesday, July 31st. Sanford C. Bernstein raised their price objective on shares of Canadian Pacific Kansas City from $88.50 to $89.06 and gave the stock a “market perform” rating in a report on Monday, July 8th. Finally, Barclays decreased their price target on shares of Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 16th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.36.

Canadian Pacific Kansas City Price Performance

Shares of CP stock opened at $86.04 on Thursday. The firm’s 50 day moving average price is $82.04 and its two-hundred day moving average price is $82.52. The stock has a market cap of $80.28 billion, a PE ratio of 27.58, a PEG ratio of 2.45 and a beta of 0.96. Canadian Pacific Kansas City Limited has a 52-week low of $68.92 and a 52-week high of $91.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.44 and a current ratio of 0.51.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.31. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. As a group, analysts forecast that Canadian Pacific Kansas City Limited will post 3.1 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently declared 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 is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 0.64%. Canadian Pacific Kansas City’s dividend payout ratio is 17.31%.

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.