JPMorgan Chase & Co. Has $6.91 Million Position in Kansas City Southern (KSU)
JPMorgan Chase & Co. trimmed its position in shares of Kansas City Southern (NYSE:KSU) by 89.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 66,000 shares of the transportation company’s stock after selling 556,044 shares during the quarter. JPMorgan Chase & Co. owned about 0.06% of Kansas City Southern worth $6,908,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. V Wealth Management LLC bought a new stake in Kansas City Southern during the 2nd quarter valued at about $169,000. Pacer Advisors Inc. raised its holdings in Kansas City Southern by 3.1% in the first quarter. Pacer Advisors Inc. now owns 2,202 shares of the transportation company’s stock worth $189,000 after buying an additional 66 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Kansas City Southern by 2.4% in the first quarter. Envestnet Asset Management Inc. now owns 2,250 shares of the transportation company’s stock worth $194,000 after buying an additional 52 shares during the last quarter. Advisor Partners LLC purchased a new position in Kansas City Southern in the second quarter worth about $202,000. Finally, Winslow Evans & Crocker Inc. purchased a new position in Kansas City Southern in the second quarter worth about $209,000. 84.59% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on KSU. BidaskClub cut shares of Kansas City Southern from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Credit Suisse Group upgraded shares of Kansas City Southern from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $90.00 to $116.00 in a report on Friday, June 16th. Zacks Investment Research upgraded shares of Kansas City Southern from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a report on Thursday, August 24th. Cowen and Company reaffirmed a “hold” rating on shares of Kansas City Southern in a research report on Friday, August 25th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $108.00 price objective on shares of Kansas City Southern in a research report on Friday, June 30th. Ten investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Kansas City Southern has a consensus rating of “Buy” and an average price target of $106.00.
In other Kansas City Southern news, Director Henry J. Maier acquired 3,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were purchased at an average price of $106.19 per share, for a total transaction of $318,570.00. Following the completion of the purchase, the director now directly owns 4,159 shares of the company’s stock, valued at $441,644.21. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Delano Jose Guillermo Zozaya sold 6,000 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $102.93, for a total transaction of $617,580.00. Following the completion of the sale, the insider now owns 42,087 shares in the company, valued at approximately $4,332,014.91. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,469 shares of company stock valued at $1,522,510. Company insiders own 0.95% of the company’s stock.
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Shares of Kansas City Southern (KSU) opened at 107.04 on Tuesday. The stock’s 50 day moving average is $105.91 and its 200 day moving average is $98.16. The stock has a market cap of $11.28 billion, a price-to-earnings ratio of 21.54 and a beta of 0.81. Kansas City Southern has a 52-week low of $79.05 and a 52-week high of $109.13.
Kansas City Southern (NYSE:KSU) last issued its quarterly earnings results on Friday, July 21st. The transportation company reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.07. Kansas City Southern had a net margin of 21.52% and a return on equity of 11.40%. The company had revenue of $656.40 million for the quarter, compared to the consensus estimate of $627.81 million. During the same quarter in the prior year, the company earned $1.22 EPS. Kansas City Southern’s quarterly revenue was up 15.5% on a year-over-year basis. On average, equities analysts predict that Kansas City Southern will post $5.21 EPS for the current fiscal year.
Kansas City Southern announced that its board has approved a stock repurchase plan on Tuesday, August 15th that allows the company to repurchase $800.00 million in outstanding shares. This repurchase authorization allows the transportation company to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Monday, September 11th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.35%. This is a boost from Kansas City Southern’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, September 8th. Kansas City Southern’s payout ratio is presently 28.92%.
Kansas City Southern Company Profile
Kansas City Southern (KCS) is a holding company. The Company has domestic and international rail operations in North America that are focused on the north/south freight corridor connecting commercial and industrial markets in the central United States with industrial cities in Mexico. The Company’s subsidiaries include The Kansas City Southern Railway Company (KCSR) and Kansas City Southern de Mexico, SA de C.V.
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