Raymond James & Associates Boosts Stake in Canadian Pacific Kansas City Limited (NYSE:CP)

Raymond James & Associates grew its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 785,304 shares of the transportation company’s stock after buying an additional 6,423 shares during the period. Raymond James & Associates’ holdings in Canadian Pacific Kansas City were worth $67,175,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CP. Grove Bank & Trust raised its holdings in shares of Canadian Pacific Kansas City by 56.0% during the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock worth $31,000 after purchasing an additional 130 shares during the last quarter. LRI Investments LLC purchased a new position in shares of Canadian Pacific Kansas City during the first quarter worth $32,000. Chris Bulman Inc purchased a new position in shares of Canadian Pacific Kansas City during the second quarter worth $35,000. Asset Dedication LLC purchased a new position in shares of Canadian Pacific Kansas City during the third quarter worth $38,000. Finally, ORG Partners LLC purchased a new position in shares of Canadian Pacific Kansas City during the second quarter worth $39,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Performance

CP opened at $78.77 on Tuesday. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average price is $82.86 and its 200 day moving average price is $81.58. Canadian Pacific Kansas City Limited has a twelve month low of $68.92 and a twelve month high of $91.58. The firm has a market capitalization of $73.50 billion, a PE ratio of 25.25, a PEG ratio of 2.21 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, topping 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 company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. Canadian Pacific Kansas City’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, sell-side analysts expect that Canadian Pacific Kansas City Limited will post 3.2 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.1373 per share. This represents a $0.55 dividend on an annualized basis and a yield of 0.70%. 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 Analyst Weigh In

Several research analysts recently issued reports on CP shares. Barclays raised their target price on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Susquehanna raised their target price on shares of Canadian Pacific Kansas City from $80.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Evercore ISI raised their price target on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Scotiabank upgraded shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, July 10th. Finally, Sanford C. Bernstein dropped their price target on shares of Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating on the stock in a research report on Wednesday, October 9th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Canadian Pacific Kansas City currently has an average rating of “Moderate Buy” and a consensus price target of $97.90.

Canadian Pacific Kansas City Company 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.