Waycross Investment Management Co Sells 1,097 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Waycross Investment Management Co decreased its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 11.7% in the third quarter, HoldingsChannel reports. The firm owned 8,242 shares of the transportation company’s stock after selling 1,097 shares during the quarter. Waycross Investment Management Co’s holdings in Canadian Pacific Kansas City were worth $705,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. LRI Investments LLC purchased a new position in shares of Canadian Pacific Kansas City during the first quarter valued at approximately $32,000. Chris Bulman Inc bought a new position in Canadian Pacific Kansas City in the 2nd quarter worth $35,000. ORG Partners LLC purchased a new stake in shares of Canadian Pacific Kansas City in the 2nd quarter worth about $39,000. Tobam bought a new stake in shares of Canadian Pacific Kansas City during the 1st quarter valued at about $51,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Canadian Pacific Kansas City during the second quarter valued at about $61,000. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Performance

Shares of Canadian Pacific Kansas City stock traded up $0.54 during trading on Friday, hitting $82.42. 2,953,730 shares of the company’s stock traded hands, compared to its average volume of 2,106,094. Canadian Pacific Kansas City Limited has a 1 year low of $68.92 and a 1 year high of $91.58. The business has a 50-day simple moving average of $82.50 and a 200-day simple moving average of $82.17. The stock has a market capitalization of $76.90 billion, a P/E ratio of 26.42, a PEG ratio of 2.43 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.51 and a quick ratio of 0.44.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.31. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter last year, the firm posted $0.62 EPS. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. 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 business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be given a $0.1373 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 17.31%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CP. Jefferies Financial Group lowered their price objective on shares of 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. Scotiabank upgraded Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, July 10th. Susquehanna lifted 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. Stifel Nicolaus increased their price objective on Canadian Pacific Kansas City from $82.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Finally, Barclays raised their price objective on 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. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.42.

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.