Cullen Frost Bankers Inc. Cuts Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Cullen Frost Bankers Inc. trimmed its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 8.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 344,202 shares of the transportation company’s stock after selling 31,631 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Canadian Pacific Kansas City were worth $27,099,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CP. LRI Investments LLC acquired a new stake in Canadian Pacific Kansas City during the 1st quarter valued at approximately $32,000. ORG Partners LLC acquired a new stake in Canadian Pacific Kansas City during the 2nd quarter valued at approximately $39,000. Tobam acquired a new stake in Canadian Pacific Kansas City during the 1st quarter valued at approximately $51,000. Partnership Wealth Management LLC acquired a new stake in Canadian Pacific Kansas City during the 4th quarter valued at approximately $52,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Canadian Pacific Kansas City during the 1st quarter valued at approximately $76,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CP. Wells Fargo & Company began coverage on Canadian Pacific Kansas City in a research note on Friday, June 7th. They set an “overweight” rating and a $90.00 price objective for the company. Barclays reduced their target price on Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, July 16th. Susquehanna reaffirmed a “neutral” rating and set a $80.00 target price on shares of Canadian Pacific Kansas City in a report on Wednesday, July 31st. Jefferies Financial Group reduced their target price on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, Scotiabank raised 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 given a buy rating to the stock. Based on data from MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and an average price target of $96.36.

Canadian Pacific Kansas City Stock Down 0.8 %

Shares of CP stock traded down $0.65 on Friday, reaching $82.85. 1,406,859 shares of the company’s stock traded hands, compared to its average volume of 2,093,586. Canadian Pacific Kansas City Limited has a 12-month low of $68.92 and a 12-month high of $91.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.44 and a current ratio of 0.51. The company has a market capitalization of $77.30 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 2.36 and a beta of 0.96. The business’s 50 day moving average price is $81.03 and its two-hundred day moving average price is $82.54.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.31. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. Canadian Pacific Kansas City’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, equities analysts forecast that Canadian Pacific Kansas City Limited will post 3.09 earnings per share for the current year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors 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 dividend on an annualized basis and a yield of 0.66%. Canadian Pacific Kansas City’s payout ratio is 17.31%.

Canadian Pacific Kansas City 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.