Canadian Pacific Kansas City Limited (NYSE:CP) Shares Sold by Bowie Capital Management LLC

Bowie Capital Management LLC trimmed its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 10.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 436,916 shares of the transportation company’s stock after selling 51,211 shares during the quarter. Canadian Pacific Kansas City comprises 1.9% of Bowie Capital Management LLC’s investment portfolio, making the stock its 20th biggest position. Bowie Capital Management LLC’s holdings in Canadian Pacific Kansas City were worth $37,374,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Grove Bank & Trust raised its holdings in Canadian Pacific Kansas City by 56.0% in the 3rd quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock valued at $31,000 after buying an additional 130 shares during the period. Tower View Wealth Management LLC raised its stake in shares of Canadian Pacific Kansas City by 0.3% in the 3rd quarter. Tower View Wealth Management LLC now owns 51,550 shares of the transportation company’s stock valued at $4,410,000 after acquiring an additional 130 shares during the period. Bradley Foster & Sargent Inc. CT lifted its holdings in shares of Canadian Pacific Kansas City by 3.0% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 4,504 shares of the transportation company’s stock worth $355,000 after acquiring an additional 131 shares during the last quarter. Trust Co. of Vermont boosted its position in shares of Canadian Pacific Kansas City by 4.7% during the 3rd quarter. Trust Co. of Vermont now owns 3,037 shares of the transportation company’s stock worth $260,000 after purchasing an additional 135 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its position in Canadian Pacific Kansas City by 12.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,252 shares of the transportation company’s stock valued at $107,000 after purchasing an additional 141 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CP. 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 research note on Friday, October 11th. Barclays increased their price target on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Benchmark reissued a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, October 24th. Sanford C. Bernstein cut their target price on shares of 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. Finally, Bank of America decreased their price target on shares of Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and an average price target of $93.68.

Canadian Pacific Kansas City Stock Performance

NYSE:CP traded up $1.55 during mid-day trading on Monday, reaching $78.24. 336,588 shares of the stock were exchanged, compared to its average volume of 2,225,981. 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 Limited has a 1 year low of $69.27 and a 1 year high of $91.58. The company has a 50 day simple moving average of $80.34 and a 200-day simple moving average of $80.45. The stock has a market capitalization of $73.02 billion, a P/E ratio of 27.39, a P/E/G ratio of 2.27 and a beta of 0.98.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.59 billion. Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 earnings per share. Analysts anticipate that Canadian Pacific Kansas City Limited will post 3.06 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, January 27th. Investors of record on Friday, December 27th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.72%. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 19.64%.

Canadian Pacific Kansas City Company Profile

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.