Raymond James & Associates Purchases 38,575 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Raymond James & Associates grew its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 5.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 767,465 shares of the transportation company’s stock after acquiring an additional 38,575 shares during the period. Raymond James & Associates’ holdings in Canadian Pacific Kansas City were worth $67,667,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CP. Sands Capital Management LLC acquired a new position in shares of Canadian Pacific Kansas City during the third quarter worth about $31,000. Anchor Investment Management LLC acquired a new position in Canadian Pacific Kansas City during the 4th quarter worth approximately $40,000. Independence Bank of Kentucky bought a new position in shares of Canadian Pacific Kansas City during the 4th quarter worth approximately $43,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at approximately $45,000. Finally, Partnership Wealth Management LLC bought a new stake in shares of Canadian Pacific Kansas City in the fourth quarter worth $52,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Stock Performance

Shares of CP traded up $0.17 during midday trading on Friday, reaching $79.73. 2,008,908 shares of the stock were exchanged, compared to its average volume of 2,302,688. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 0.43. The stock’s 50 day simple moving average is $86.39 and its 200 day simple moving average is $80.03. 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 cap of $74.36 billion, a P/E ratio of 25.55, a PEG ratio of 2.25 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.48%. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.59 billion. On average, sell-side analysts expect that Canadian Pacific Kansas City Limited will post 3.15 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, July 29th. Shareholders of record on Friday, June 28th will be issued a $0.141 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.56 annualized dividend and a yield of 0.71%. Canadian Pacific Kansas City’s dividend payout ratio is presently 17.95%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CP shares. Scotiabank reiterated a “sector perform” rating on shares of Canadian Pacific Kansas City in a research note on Monday, March 25th. StockNews.com raised Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. TD Securities cut Canadian Pacific Kansas City from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Evercore ISI decreased their target price 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. Finally, Bank of America dropped their price target on shares of Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Twelve analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.42.

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.