Cullen Investment Group LTD. Trims Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Cullen Investment Group LTD. lowered its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 3.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 32,471 shares of the transportation company’s stock after selling 1,062 shares during the period. Cullen Investment Group LTD.’s holdings in Canadian Pacific Kansas City were worth $2,778,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CP. Vanguard Group Inc. raised its holdings in shares of Canadian Pacific Kansas City by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 34,926,548 shares of the transportation company’s stock valued at $3,079,474,000 after buying an additional 588,701 shares during the period. TD Asset Management Inc increased its stake in Canadian Pacific Kansas City by 2.5% during the first quarter. TD Asset Management Inc now owns 21,703,229 shares of the transportation company’s stock worth $1,915,196,000 after purchasing an additional 532,303 shares during the period. Bank of Montreal Can lifted its position in shares of Canadian Pacific Kansas City by 2.8% during the second quarter. Bank of Montreal Can now owns 19,932,768 shares of the transportation company’s stock worth $1,580,556,000 after purchasing an additional 533,792 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Canadian Pacific Kansas City by 5.5% in the second quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock valued at $1,088,155,000 after purchasing an additional 723,188 shares during the period. Finally, Veritas Asset Management LLP grew its holdings in shares of Canadian Pacific Kansas City by 1.8% in the fourth quarter. Veritas Asset Management LLP now owns 13,434,704 shares of the transportation company’s stock valued at $1,062,148,000 after purchasing an additional 243,210 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

CP has been the subject of several recent research reports. Barclays raised their price target on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Sanford C. Bernstein lifted their target price on Canadian Pacific Kansas City from $88.50 to $89.06 and gave the company a “market perform” rating in a report on Monday, July 8th. Jefferies Financial Group lowered their target price on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Susquehanna increased their price target on Canadian Pacific Kansas City from $80.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Stifel Nicolaus boosted their price objective on Canadian Pacific Kansas City from $82.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.42.

Canadian Pacific Kansas City Stock Performance

Shares of Canadian Pacific Kansas City stock traded up $0.54 on Friday, hitting $82.42. The stock had a trading volume of 2,953,730 shares, compared to its average volume of 2,106,094. The company’s 50 day moving average price is $82.50 and its 200 day moving average price is $82.21. The stock has a market cap of $76.90 billion, a price-to-earnings ratio of 26.42, a P/E/G ratio of 2.43 and a beta of 0.96. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.42. 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 the consensus estimate of $0.74 by $0.31. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.58 billion. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The company’s revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 earnings per share. On average, research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.1 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. Shareholders 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 yield of 0.67%. Canadian Pacific Kansas City’s 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.