Ballast Advisors LLC Lowers Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Ballast Advisors LLC cut its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 8.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,189 shares of the transportation company’s stock after selling 846 shares during the period. Ballast Advisors LLC’s holdings in Canadian Pacific Kansas City were worth $786,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Grove Bank & Trust increased its position in shares of Canadian Pacific Kansas City by 56.0% during the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 130 shares in the last quarter. LRI Investments LLC bought a new position in shares of Canadian Pacific Kansas City during the 1st quarter valued at about $32,000. Chris Bulman Inc purchased a new stake in shares of Canadian Pacific Kansas City during the 2nd quarter valued at about $35,000. Asset Dedication LLC purchased a new stake in Canadian Pacific Kansas City in the 3rd quarter worth about $38,000. Finally, ORG Partners LLC bought a new position in Canadian Pacific Kansas City in the 2nd quarter worth about $39,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CP has been the subject of a number of research analyst reports. Stephens decreased their price target on shares of Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Sanford C. Bernstein dropped their target price on shares of Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating on the stock in a research report on Wednesday, October 9th. Bank of America reduced their price target on shares of Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Barclays upped their target price on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Finally, Jefferies Financial Group cut their price target on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.15.

Canadian Pacific Kansas City Stock Down 2.9 %

Shares of CP traded down $2.34 during mid-day trading on Wednesday, hitting $76.99. 998,083 shares of the company’s stock were exchanged, compared to its average volume of 2,106,624. The company has a market cap of $71.86 billion, a PE ratio of 28.34, a P/E/G ratio of 2.29 and a beta of 0.98. Canadian Pacific Kansas City Limited has a 52 week low of $69.08 and a 52 week high of $91.58. The company has a 50-day simple moving average of $82.44 and a 200 day simple moving average of $80.95. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.53 and a quick ratio of 0.46.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the previous year, the firm posted $0.69 earnings per share. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. On average, research analysts forecast that Canadian Pacific Kansas City Limited will post 3.05 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.73%. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, December 27th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 19.64%.

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.