Canadian Pacific Kansas City Limited (NYSE:CP) Holdings Raised by Pictet North America Advisors SA

by · The Markets Daily

Pictet North America Advisors SA boosted its stake in Canadian Pacific Kansas City Limited (NYSE:CP – Free Report) (TSE:CP) by 2.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 313,041 shares of the transportation company’s stock after buying an additional 6,789 shares during the quarter. Canadian Pacific Kansas City makes up about 2.7% of Pictet North America Advisors SA’s holdings, making the stock its 8th biggest position. Pictet North America Advisors SA’s holdings in Canadian Pacific Kansas City were worth $26,867,000 as of its most recent filing with the SEC.

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

Canadian Pacific Kansas City Stock Performance

Shares of CP stock opened at $79.64 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.44 and a current ratio of 0.51. Canadian Pacific Kansas City Limited has a one year low of $68.92 and a one year high of $91.58. The company’s 50-day simple moving average is $82.91 and its 200-day simple moving average is $81.52. The stock has a market capitalization of $74.31 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 2.21 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP – Get Free Report) (TSE:CP) last issued its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.74 by $0.31. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same quarter last year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. Equities analysts anticipate that Canadian Pacific Kansas City Limited will post 3.2 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be given a dividend of $0.1373 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.55 annualized dividend and a dividend yield of 0.69%. Canadian Pacific Kansas City’s payout ratio is 17.31%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CP shares. Sanford C. Bernstein reduced their price target on 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. Stifel Nicolaus dropped their price objective on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a report on Friday, October 11th. Susquehanna upped their price objective on Canadian Pacific Kansas City from $80.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Jefferies Financial Group dropped their price objective on 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. Finally, Scotiabank upgraded Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, July 10th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.90.

Check Out Our Latest Analysis on CP

Canadian Pacific Kansas City Profile

(Free Report)

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.

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