Raymond James Financial Services Advisors Inc. Raises Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Raymond James Financial Services Advisors Inc. lifted its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,185 shares of the transportation company’s stock after buying an additional 2,075 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Canadian Pacific Kansas City were worth $12,769,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CP. LRI Investments LLC acquired a new stake in shares of Canadian Pacific Kansas City in the 1st quarter worth approximately $32,000. ORG Partners LLC purchased a new position in shares of Canadian Pacific Kansas City in the second quarter valued at $39,000. Tobam acquired a new position in shares of Canadian Pacific Kansas City during the 1st quarter worth $51,000. Rational Advisors LLC purchased a new stake in shares of Canadian Pacific Kansas City in the 1st quarter worth about $52,000. Finally, Partnership Wealth Management LLC acquired a new stake in Canadian Pacific Kansas City in the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CP shares. Evercore ISI dropped their price objective on shares of Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Susquehanna reiterated a “neutral” rating and set a $80.00 target price on shares of Canadian Pacific Kansas City in a report on Wednesday, July 31st. Stifel Nicolaus boosted their price target 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. Wells Fargo & Company initiated coverage on Canadian Pacific Kansas City in a research note on Friday, June 7th. They set an “overweight” rating and a $90.00 price objective on the stock. Finally, Evercore dropped their price objective on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.56.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock opened at $80.42 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 0.42. The company has a market cap of $75.04 billion, a PE ratio of 25.78, a P/E/G ratio of 2.27 and a beta of 0.96. The company’s fifty day simple moving average is $80.06 and its 200-day simple moving average is $82.67. 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 released its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.74 by $0.31. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period last year, the company posted $0.62 earnings per share. The firm’s revenue was up 13.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.11 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently announced 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 of this dividend is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 0.68%. Canadian Pacific Kansas City’s payout ratio is currently 17.31%.

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.