Dakota Wealth Management lowered its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP – Get Rating) (TSE:CP) by 6.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 16,891 shares of the transportation company’s stock after selling 1,229 shares during the period. Dakota Wealth Management’s holdings in Canadian Pacific Kansas City were worth $1,300,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of CP. Cetera Investment Advisers grew its position in shares of Canadian Pacific Kansas City by 3.4% during the first quarter. Cetera Investment Advisers now owns 16,828 shares of the transportation company’s stock worth $1,389,000 after acquiring an additional 559 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Canadian Pacific Kansas City by 69.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,539 shares of the transportation company’s stock valued at $457,000 after buying an additional 2,263 shares in the last quarter. Vanguard Group Inc. grew its position in Canadian Pacific Kansas City by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 30,249,662 shares of the transportation company’s stock valued at $2,496,807,000 after buying an additional 695,215 shares in the last quarter. Baird Financial Group Inc. grew its position in Canadian Pacific Kansas City by 5.1% in the 1st quarter. Baird Financial Group Inc. now owns 49,524 shares of the transportation company’s stock valued at $4,087,000 after buying an additional 2,417 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in Canadian Pacific Kansas City by 116.4% in the 1st quarter. Brown Brothers Harriman & Co. now owns 14,274 shares of the transportation company’s stock valued at $1,178,000 after buying an additional 7,678 shares in the last quarter. Institutional investors own 65.84% of the company’s stock.
Analyst Upgrades and Downgrades
CP has been the subject of a number of recent analyst reports. Argus upgraded shares of Canadian Pacific Kansas City from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research report on Tuesday, May 16th. BMO Capital Markets initiated coverage on shares of Canadian Pacific Kansas City in a research report on Tuesday, April 18th. They issued an “outperform” rating for the company. StockNews.com initiated coverage on shares of Canadian Pacific Kansas City in a research report on Thursday, May 18th. They issued a “hold” rating for the company. The Goldman Sachs Group initiated coverage on shares of Canadian Pacific Kansas City in a report on Tuesday, June 6th. They issued a “buy” rating for the company. Finally, Stifel Nicolaus cut their price target on shares of Canadian Pacific Kansas City from $78.00 to $75.00 in a report on Tuesday, April 18th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.40.
Canadian Pacific Kansas City Price Performance
Canadian Pacific Kansas City (NYSE:CP – Get Rating) (TSE:CP) last posted its quarterly earnings results on Wednesday, April 26th. The transportation company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.07). Canadian Pacific Kansas City had a return on equity of 9.53% and a net margin of 40.22%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.78 billion. On average, analysts forecast that Canadian Pacific Kansas City Limited will post 3.28 earnings per share for the current year.
Canadian Pacific Kansas City Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, June 30th will be issued a $0.141 dividend. The ex-dividend date is Thursday, June 29th. This represents a $0.56 dividend on an annualized basis and a yield of 0.70%. Canadian Pacific Kansas City’s dividend payout ratio is currently 18.21%.
Canadian Pacific Kansas City Company Profile
Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; and merchandise freight, such as energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products.
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