Janney Montgomery Scott LLC Trims Position in Canadian Pacific Kansas City Limited $CP

Janney Montgomery Scott LLC trimmed its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 8.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 79,303 shares of the transportation company’s stock after selling 7,502 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Canadian Pacific Kansas City were worth $6,238,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Prosperity Bancshares Inc acquired a new position in Canadian Pacific Kansas City during the fourth quarter valued at $26,000. Gilpin Wealth Management LLC acquired a new stake in Canadian Pacific Kansas City during the 4th quarter worth about $29,000. McMillan Office Inc. acquired a new stake in Canadian Pacific Kansas City during the 4th quarter worth about $31,000. Acadian Asset Management LLC purchased a new position in shares of Canadian Pacific Kansas City during the 1st quarter valued at about $35,000. Finally, Wealth Watch Advisors INC purchased a new position in shares of Canadian Pacific Kansas City during the 3rd quarter valued at about $36,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Up 0.1%

Shares of CP opened at $87.91 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.57 and a debt-to-equity ratio of 0.46. Canadian Pacific Kansas City Limited has a 12 month low of $68.42 and a 12 month high of $91.52. The stock’s 50 day moving average is $87.29 and its two-hundred day moving average is $81.62. The firm has a market cap of $77.80 billion, a P/E ratio of 27.13, a PEG ratio of 1.72 and a beta of 1.10.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, April 29th. The transportation company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.02). Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 27.20%.The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period in the previous year, the company earned $1.06 earnings per share. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. Analysts predict that Canadian Pacific Kansas City Limited will post 3.75 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Friday, June 26th will be issued a $0.268 dividend. This represents a $1.07 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, June 26th. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. Canadian Pacific Kansas City’s payout ratio is presently 24.07%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CP shares. Sanford C. Bernstein upped their target price on Canadian Pacific Kansas City from $85.41 to $90.00 and gave the stock a “market perform” rating in a research note on Tuesday, March 31st. Scotiabank lowered Canadian Pacific Kansas City from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 9th. Argus set a $105.00 price objective on shares of Canadian Pacific Kansas City in a research note on Tuesday, June 16th. Citigroup lifted their target price on shares of Canadian Pacific Kansas City from $93.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Barclays set a $102.00 target price on shares of Canadian Pacific Kansas City and gave the company an “overweight” rating in a research note on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.30.

Canadian Pacific Kansas City Company Profile

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.