Cohen Klingenstein LLC Cuts Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Cohen Klingenstein LLC lowered its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 41.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,813 shares of the transportation company’s stock after selling 80,175 shares during the period. Cohen Klingenstein LLC’s holdings in Canadian Pacific Kansas City were worth $8,164,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Citizens Financial Group Inc. RI acquired a new stake in shares of Canadian Pacific Kansas City during the second quarter valued at $229,000. Bradley Foster & Sargent Inc. CT lifted its position in Canadian Pacific Kansas City by 3.0% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 4,504 shares of the transportation company’s stock worth $355,000 after buying an additional 131 shares during the period. Argent Trust Co grew its holdings in Canadian Pacific Kansas City by 3.0% in the 2nd quarter. Argent Trust Co now owns 11,431 shares of the transportation company’s stock valued at $900,000 after buying an additional 328 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in Canadian Pacific Kansas City by 18.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 23,532 shares of the transportation company’s stock worth $1,869,000 after buying an additional 3,612 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Canadian Pacific Kansas City by 8.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,017 shares of the transportation company’s stock valued at $2,285,000 after acquiring an additional 2,366 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Up 0.3 %

CP stock opened at $74.80 on Friday. The stock has a market cap of $69.83 billion, a P/E ratio of 26.71, a PEG ratio of 1.89 and a beta of 0.96. Canadian Pacific Kansas City Limited has a twelve month low of $70.89 and a twelve month high of $91.58. The business’s 50-day moving average price is $74.75 and its 200-day moving average price is $79.19. 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 announced 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 business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.59 billion. Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. During the same quarter in the prior year, the firm posted $0.69 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.02 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.75%. The ex-dividend date is Friday, December 27th. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 19.29%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CP. Stephens upgraded Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $81.00 to $88.00 in a research report on Monday, January 6th. Susquehanna cut their price target on shares of Canadian Pacific Kansas City from $92.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Evercore ISI raised their price objective on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Wolfe Research upgraded shares of Canadian Pacific Kansas City from a “peer perform” rating to an “outperform” rating and set a $86.00 price objective on the stock in a research note on Wednesday, January 8th. Finally, Citigroup decreased their price objective on Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $92.63.

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.