Canadian Pacific Kansas City Limited (NYSE:CP) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 2.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 164,096 shares of the transportation company’s stock after selling 4,133 shares during the quarter. New York State Common Retirement Fund’s holdings in Canadian Pacific Kansas City were worth $11,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Cornerstone Planning Group LLC grew its position in Canadian Pacific Kansas City by 209.8% during the first quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company’s stock worth $28,000 after buying an additional 256 shares during the period. North Capital Inc. purchased a new stake in shares of Canadian Pacific Kansas City during the 1st quarter worth approximately $27,000. Bernard Wealth Management Corp. acquired a new stake in shares of Canadian Pacific Kansas City in the 4th quarter worth approximately $31,000. Hexagon Capital Partners LLC increased its stake in Canadian Pacific Kansas City by 49.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 164 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new position in Canadian Pacific Kansas City during the fourth quarter worth $36,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Trading Down 3.4%

Shares of NYSE CP opened at $77.56 on Friday. Canadian Pacific Kansas City Limited has a 1-year low of $66.49 and a 1-year high of $87.72. The company has a 50-day moving average of $80.63 and a two-hundred day moving average of $76.84. The company has a market cap of $71.46 billion, a PE ratio of 26.20, a P/E/G ratio of 2.24 and a beta of 1.07. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, April 30th. The transportation company reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates of $0.74. The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.56 billion. Canadian Pacific Kansas City had a net margin of 25.99% and a return on equity of 8.68%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 EPS. As a group, equities analysts expect that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be paid a dividend of $0.1644 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.85%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, June 27th. Canadian Pacific Kansas City’s dividend payout ratio is presently 22.30%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CP. The Goldman Sachs Group restated a “neutral” rating and set a $91.00 price objective on shares of Canadian Pacific Kansas City in a research report on Monday, June 2nd. Jefferies Financial Group dropped their price target on Canadian Pacific Kansas City from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Evercore ISI reduced their price objective on Canadian Pacific Kansas City from $89.00 to $88.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Argus set a $90.00 price objective on Canadian Pacific Kansas City in a research report on Wednesday, March 26th. Finally, Royal Bank Of Canada cut their target price on shares of Canadian Pacific Kansas City from $122.00 to $121.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.95.

Canadian Pacific Kansas City 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.