Canadian Pacific Kansas City Limited $CP Shares Sold by TD Asset Management Inc

TD Asset Management Inc reduced its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 22.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,588,459 shares of the transportation company’s stock after selling 4,241,354 shares during the period. Canadian Pacific Kansas City makes up about 1.1% of TD Asset Management Inc’s holdings, making the stock its 14th largest position. TD Asset Management Inc’s holdings in Canadian Pacific Kansas City were worth $1,264,350,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CP. Boomfish Wealth Group LLC purchased a new position in shares of Canadian Pacific Kansas City in the 2nd quarter valued at about $219,000. Chilton Capital Management LLC boosted its holdings in Canadian Pacific Kansas City by 192.3% during the second quarter. Chilton Capital Management LLC now owns 684 shares of the transportation company’s stock worth $59,000 after buying an additional 450 shares in the last quarter. Ascent Group LLC purchased a new stake in Canadian Pacific Kansas City during the second quarter worth about $228,000. Everett Harris & Co. CA grew its position in Canadian Pacific Kansas City by 0.5% during the second quarter. Everett Harris & Co. CA now owns 77,484 shares of the transportation company’s stock worth $6,714,000 after buying an additional 359 shares during the period. Finally, Meixler Investment Management Ltd. grew its position in Canadian Pacific Kansas City by 6.7% during the second quarter. Meixler Investment Management Ltd. now owns 32,952 shares of the transportation company’s stock worth $2,855,000 after buying an additional 2,055 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Stock Performance

NYSE:CP opened at $93.53 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $82.16 billion, a P/E ratio of 30.08, a price-to-earnings-growth ratio of 1.84 and a beta of 1.10. The firm has a 50-day moving average price of $89.72 and a two-hundred day moving average price of $85.41. Canadian Pacific Kansas City Limited has a twelve month low of $68.42 and a twelve month high of $94.66.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. Canadian Pacific Kansas City had a net margin of 25.02% and a return on equity of 9.02%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.12 earnings per share. As a group, research analysts expect that Canadian Pacific Kansas City Limited will post 3.7 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Friday, September 25th will be given a dividend of $0.268 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $1.07 annualized dividend and a yield of 1.1%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 25.08%.

Analyst Ratings Changes

A number of research firms have recently issued reports on CP. ATB Cormark Capital Markets downgraded shares of Canadian Pacific Kansas City from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, April 17th. Stephens upgraded Canadian Pacific Kansas City to a “hold” rating in a report on Wednesday, July 8th. Canadian Imperial Bank of Commerce raised their price objective on Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the company an “outperformer” rating in a research note on Thursday, June 25th. Argus set a $105.00 price objective on Canadian Pacific Kansas City in a report on Tuesday, June 16th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $145.00 target price (up from $139.00) on shares of Canadian Pacific Kansas City in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Canadian Pacific Kansas City has an average rating of “Moderate Buy” and an average target price of $108.60.

About Canadian Pacific Kansas City

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.