D.A. Davidson & CO. Sells 1,100 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

D.A. Davidson & CO. reduced its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 3.0% in the third quarter, Holdings Channel.com reports. The fund owned 35,931 shares of the transportation company’s stock after selling 1,100 shares during the quarter. D.A. Davidson & CO.’s holdings in Canadian Pacific Kansas City were worth $3,074,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CP. B. Riley Wealth Advisors Inc. raised its stake in Canadian Pacific Kansas City by 19.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 18,076 shares of the transportation company’s stock valued at $1,594,000 after purchasing an additional 2,976 shares in the last quarter. LRI Investments LLC purchased a new stake in Canadian Pacific Kansas City in the first quarter valued at approximately $35,000. Atria Investments Inc raised its stake in Canadian Pacific Kansas City by 13.9% in the first quarter. Atria Investments Inc now owns 40,175 shares of the transportation company’s stock valued at $3,542,000 after purchasing an additional 4,896 shares in the last quarter. Cetera Investment Advisers raised its stake in Canadian Pacific Kansas City by 272.0% in the first quarter. Cetera Investment Advisers now owns 55,226 shares of the transportation company’s stock valued at $4,874,000 after purchasing an additional 40,380 shares in the last quarter. Finally, Cetera Advisors LLC raised its stake in Canadian Pacific Kansas City by 44.7% in the first quarter. Cetera Advisors LLC now owns 30,715 shares of the transportation company’s stock valued at $2,711,000 after purchasing an additional 9,490 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on CP. Susquehanna raised shares of Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and decreased their price target for the stock from $94.00 to $92.00 in a research note on Thursday, October 24th. Barclays lifted their price target on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Sanford C. Bernstein decreased their price target 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 note on Wednesday, October 9th. Benchmark reissued a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, October 24th. Finally, Citigroup decreased their price target on shares of Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $94.88.

Canadian Pacific Kansas City Stock Performance

NYSE:CP opened at $75.35 on Friday. The stock has a market cap of $70.33 billion, a P/E ratio of 26.91, a price-to-earnings-growth ratio of 2.28 and a beta of 0.98. The firm’s fifty day simple moving average is $79.45 and its 200 day simple moving average is $80.28. Canadian Pacific Kansas City Limited has a twelve month low of $69.66 and a twelve month high of $91.58. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42.

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 the consensus estimate of $1.01 by ($0.02). The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.59 billion. Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. As a group, research analysts predict that Canadian Pacific Kansas City Limited will post 3.06 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.56 annualized dividend and a yield of 0.74%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s payout ratio is 20.00%.

About Canadian Pacific Kansas City

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.