CenterBook Partners LP Lowers Holdings in Canadian Pacific Kansas City Limited $CP

CenterBook Partners LP cut its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 53.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,723 shares of the transportation company’s stock after selling 13,375 shares during the period. CenterBook Partners LP’s holdings in Canadian Pacific Kansas City were worth $863,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wealth Watch Advisors INC purchased a new stake in shares of Canadian Pacific Kansas City during the 3rd quarter worth approximately $36,000. Acadian Asset Management LLC bought a new position in shares of Canadian Pacific Kansas City during the 1st quarter valued at approximately $35,000. Aventura Private Wealth LLC bought a new position in Canadian Pacific Kansas City in the 4th quarter valued at $37,000. McIlrath & Eck LLC grew its position in Canadian Pacific Kansas City by 475.3% in the 4th quarter. McIlrath & Eck LLC now owns 512 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 423 shares during the last quarter. Finally, Albion Financial Group UT grew its position in Canadian Pacific Kansas City by 451.7% in the 4th quarter. Albion Financial Group UT now owns 640 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 524 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CP has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Canadian Pacific Kansas City in a research note on Friday, May 29th. National Bank Financial upgraded Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. ATB Cormark Capital Markets cut Canadian Pacific Kansas City from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, April 17th. Barclays set a $99.00 price target on Canadian Pacific Kansas City and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Wall Street Zen upgraded Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Canadian Pacific Kansas City currently has an average rating of “Moderate Buy” and a consensus price target of $103.22.

Canadian Pacific Kansas City Stock Down 0.6%

Shares of CP stock opened at $89.63 on Thursday. The stock has a 50 day moving average of $85.07 and a 200 day moving average of $79.98. The company has a current ratio of 0.67, a quick ratio of 0.57 and a debt-to-equity ratio of 0.46. The stock has a market cap of $79.51 billion, a P/E ratio of 27.66, a P/E/G ratio of 1.93 and a beta of 1.09. Canadian Pacific Kansas City Limited has a twelve month low of $68.42 and a twelve month high of $91.50.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data on Wednesday, April 29th. The transportation company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.02). Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. The business had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period in the previous year, the business posted $1.06 earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, sell-side analysts expect that Canadian Pacific Kansas City Limited will post 3.76 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Friday, June 26th will be paid a dividend of $0.268 per share. This represents a $1.07 dividend on an annualized basis and a yield of 1.2%. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, June 26th. Canadian Pacific Kansas City’s dividend payout ratio is presently 20.68%.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.