Oppenheimer Asset Management Inc. Reduces Position in Canadian Pacific Kansas City Limited $CP

Oppenheimer Asset Management Inc. decreased its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 16.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,775 shares of the transportation company’s stock after selling 28,495 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Canadian Pacific Kansas City were worth $12,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Rothschild & Co Wealth Management UK Ltd raised its stake in shares of Canadian Pacific Kansas City by 0.9% in the fourth quarter. Rothschild & Co Wealth Management UK Ltd now owns 5,353,188 shares of the transportation company’s stock worth $394,156,000 after buying an additional 48,258 shares during the period. HighTower Advisors LLC lifted its position in shares of Canadian Pacific Kansas City by 6.2% during the 4th quarter. HighTower Advisors LLC now owns 630,624 shares of the transportation company’s stock valued at $46,434,000 after buying an additional 37,044 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Canadian Pacific Kansas City during the 4th quarter valued at approximately $1,983,000. Saranac Partners Ltd bought a new position in shares of Canadian Pacific Kansas City during the 4th quarter valued at approximately $5,973,000. Finally, TD Waterhouse Canada Inc. increased its holdings in Canadian Pacific Kansas City by 2.6% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,708,432 shares of the transportation company’s stock worth $125,733,000 after acquiring an additional 44,021 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Performance

NYSE:CP opened at $93.53 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. Canadian Pacific Kansas City Limited has a 12-month low of $68.42 and a 12-month high of $94.66. The stock has a 50-day moving average price of $89.72 and a 200 day moving average price of $85.41. The stock has a market capitalization of $82.16 billion, a P/E ratio of 30.08, a P/E/G ratio of 1.84 and a beta of 1.10.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%.The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the company earned $1.12 EPS. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. Equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.7 EPS for the current fiscal year.

Canadian Pacific Kansas City Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Friday, September 25th will be issued a dividend of $0.268 per share. This represents a $1.07 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 25th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 25.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. ATB Cormark Capital Markets cut shares of Canadian Pacific Kansas City from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, April 17th. Canadian Imperial Bank of Commerce upped their price target on shares of Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the stock an “outperformer” rating in a research report on Thursday, June 25th. Evercore set a $99.00 price objective on shares of Canadian Pacific Kansas City in a research note on Thursday, July 30th. Stephens upgraded shares of Canadian Pacific Kansas City to a “hold” rating in a research report on Wednesday, July 8th. Finally, Susquehanna lifted their target price on shares of Canadian Pacific Kansas City from $104.00 to $106.00 and gave the company a “positive” rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Canadian Pacific Kansas City presently has a consensus rating of “Moderate Buy” and an average price target of $108.60.

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.