M&T Bank Corp Sells 102,525 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

M&T Bank Corp decreased its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 50.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,485 shares of the transportation company’s stock after selling 102,525 shares during the period. M&T Bank Corp’s holdings in Canadian Pacific Kansas City were worth $8,510,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Grove Bank & Trust increased its position 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 valued at $31,000 after buying an additional 130 shares during the period. Addison Advisors LLC grew its holdings in shares of Canadian Pacific Kansas City by 246.9% in the third quarter. Addison Advisors LLC now owns 392 shares of the transportation company’s stock worth $34,000 after purchasing an additional 279 shares during the last quarter. FSA Wealth Management LLC purchased a new position in Canadian Pacific Kansas City during the 3rd quarter valued at about $34,000. Chris Bulman Inc purchased a new position in Canadian Pacific Kansas City during the 2nd quarter valued at $35,000. Finally, Asset Dedication LLC purchased a new position in shares of Canadian Pacific Kansas City in the 3rd quarter valued at approximately $38,000. 72.20% of the stock is currently owned by institutional investors.

Canadian Pacific Kansas City Stock Up 1.6 %

Shares of NYSE:CP opened at $72.26 on Monday. The company has a market cap of $67.45 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 2.26 and a beta of 0.96. Canadian Pacific Kansas City Limited has a fifty-two week low of $70.89 and a fifty-two week high of $91.58. The firm’s 50-day simple moving average is $76.65 and its 200-day simple moving average is $79.72. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.02). Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the prior year, the firm earned $0.69 earnings per share. Canadian Pacific Kansas City’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts predict that Canadian Pacific Kansas City Limited will post 3.05 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, December 27th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.77%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s payout ratio is presently 20.00%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Benchmark reaffirmed a “hold” rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 24th. Stephens decreased their price target on Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Susquehanna raised Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and dropped their price target for the company from $94.00 to $92.00 in a research note on Thursday, October 24th. Barclays increased their target price on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, StockNews.com upgraded shares of Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research note on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $93.25.

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.