Bartlett & CO. Wealth Management LLC Cuts Stake in Canadian Pacific Kansas City Limited $CP

Bartlett & CO. Wealth Management LLC lessened its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 242,658 shares of the transportation company’s stock after selling 7,215 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Canadian Pacific Kansas City were worth $20,172,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Prosperity Bancshares Inc acquired a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at about $26,000. Gilpin Wealth Management LLC acquired a new position in Canadian Pacific Kansas City during the 4th quarter worth approximately $29,000. McMillan Office Inc. acquired a new position in Canadian Pacific Kansas City during the 4th quarter worth approximately $31,000. Wealth Watch Advisors INC purchased a new position in Canadian Pacific Kansas City in the 3rd quarter worth approximately $36,000. Finally, Acadian Asset Management LLC purchased a new position in Canadian Pacific Kansas City in the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

Shares of NYSE CP opened at $93.70 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.67 and a debt-to-equity ratio of 0.46. Canadian Pacific Kansas City Limited has a fifty-two week low of $68.42 and a fifty-two week high of $93.95. The business has a 50 day moving average price of $88.24 and a two-hundred day moving average price of $82.77. The firm has a market cap of $82.93 billion, a PE ratio of 28.92, a price-to-earnings-growth ratio of 1.86 and a beta of 1.10.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, April 29th. The transportation company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.02). The business had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.70 billion. Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.06 earnings per share. Sell-side analysts expect that Canadian Pacific Kansas City Limited will post 3.68 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Friday, June 26th will be paid a $0.268 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, June 26th. Canadian Pacific Kansas City’s payout ratio is presently 24.07%.

Analysts Set New Price Targets

CP has been the subject of several recent research reports. National Bank Financial raised shares of Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Canadian Imperial Bank of Commerce boosted their target price on shares of Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the stock an “outperformer” rating in a research report on Thursday, June 25th. Wells Fargo & Company upped their target price on shares of Canadian Pacific Kansas City from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Evercore set a $91.00 price target on shares of Canadian Pacific Kansas City and gave the company an “outperform” rating in a report on Thursday, June 25th. Finally, Barclays set a $102.00 price target on shares of Canadian Pacific Kansas City and gave the stock an “overweight” rating in a research note on Thursday, June 25th. One 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 stock. Based on data from MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and an average target price of $104.91.

Canadian Pacific Kansas City Company Profile

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.