Morey & Quinn Wealth Partners LLC Buys New Shares in Canadian Pacific Kansas City Limited (NYSE:CP)

Morey & Quinn Wealth Partners LLC bought a new position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,843 shares of the transportation company’s stock, valued at approximately $423,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new position in shares of Canadian Pacific Kansas City during the 4th quarter worth about $33,000. FSA Wealth Management LLC purchased a new position in Canadian Pacific Kansas City during the third quarter worth approximately $34,000. Stonebridge Financial Group LLC acquired a new position in shares of Canadian Pacific Kansas City in the 4th quarter valued at $34,000. YANKCOM Partnership purchased a new stake in shares of Canadian Pacific Kansas City during the 4th quarter valued at $36,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of Canadian Pacific Kansas City during the 4th quarter worth $36,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Price Performance

CP opened at $72.38 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average price is $76.64 and its 200 day moving average price is $77.71. Canadian Pacific Kansas City Limited has a fifty-two week low of $70.89 and a fifty-two week high of $89.26. The firm has a market cap of $67.58 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 2.00 and a beta of 0.98.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings results on Wednesday, January 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.26. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 25.51%. As a group, sell-side analysts expect that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be given a $0.1318 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.53 annualized dividend and a yield of 0.73%. Canadian Pacific Kansas City’s dividend payout ratio is presently 17.93%.

Wall Street Analyst Weigh In

Several research analysts recently commented on CP shares. Loop Capital lowered shares of Canadian Pacific Kansas City from a “buy” rating to a “sell” rating in a report on Monday, February 3rd. Royal Bank of Canada lifted their target price on shares of Canadian Pacific Kansas City from $124.00 to $128.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Stifel Nicolaus decreased their price target on shares of Canadian Pacific Kansas City from $82.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, January 16th. Susquehanna reduced their price objective on Canadian Pacific Kansas City from $92.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Finally, Stephens increased their target price on Canadian Pacific Kansas City from $88.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and a consensus price target of $95.45.

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.