Estabrook Capital Management Lowers Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Estabrook Capital Management trimmed its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,825 shares of the transportation company’s stock after selling 1,485 shares during the quarter. Canadian Pacific Kansas City accounts for approximately 1.2% of Estabrook Capital Management’s portfolio, making the stock its 26th largest holding. Estabrook Capital Management’s holdings in Canadian Pacific Kansas City were worth $7,623,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new stake in Canadian Pacific Kansas City in the first quarter valued at $32,000. Chris Bulman Inc purchased a new stake in Canadian Pacific Kansas City during the second quarter worth about $35,000. ORG Partners LLC acquired a new position in Canadian Pacific Kansas City during the second quarter worth about $39,000. Tobam purchased a new position in Canadian Pacific Kansas City in the first quarter valued at about $51,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Canadian Pacific Kansas City during the 2nd quarter valued at approximately $61,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CP shares. Barclays lowered their price target on Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, July 16th. Sanford C. Bernstein raised their price target on Canadian Pacific Kansas City from $88.50 to $89.06 and gave the company a “market perform” rating in a research report on Monday, July 8th. Jefferies Financial Group decreased their price objective on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Susquehanna restated a “neutral” rating and set a $80.00 target price on shares of Canadian Pacific Kansas City in a report on Wednesday, July 31st. Finally, Scotiabank raised shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, July 10th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.36.

Canadian Pacific Kansas City Stock Performance

NYSE CP opened at $85.86 on Friday. The business’s 50-day moving average price is $82.16 and its 200 day moving average price is $82.53. 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 twelve month low of $68.92 and a twelve month high of $91.58. The company has a market capitalization of $80.11 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 2.45 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.05 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period in the prior year, the firm posted $0.62 EPS. The company’s revenue was up 13.5% on a year-over-year basis. On average, research analysts predict that Canadian Pacific Kansas City Limited will post 3.1 earnings per share 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. Stockholders of record on Friday, September 27th will be paid a dividend of $0.1373 per share. The ex-dividend date is Friday, September 27th. This represents a $0.55 annualized dividend and a dividend yield of 0.64%. Canadian Pacific Kansas City’s dividend payout ratio is presently 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.