Morey & Quinn Wealth Partners LLC Makes New $423,000 Investment in Canadian Pacific Kansas City Limited (NYSE:CP)

Morey & Quinn Wealth Partners LLC purchased a new stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,843 shares of the transportation company’s stock, valued at approximately $423,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CP. Vanguard Group Inc. increased its stake in Canadian Pacific Kansas City by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 36,778,473 shares of the transportation company’s stock valued at $2,662,978,000 after buying an additional 491,966 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Canadian Pacific Kansas City by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 8,768,362 shares of the transportation company’s stock valued at $750,046,000 after acquiring an additional 381,594 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Canadian Pacific Kansas City by 9.7% during the third quarter. Franklin Resources Inc. now owns 6,096,341 shares of the transportation company’s stock valued at $501,219,000 after acquiring an additional 537,418 shares during the period. Rothschild & Co Wealth Management UK Ltd raised its holdings in Canadian Pacific Kansas City by 1.7% during the fourth quarter. Rothschild & Co Wealth Management UK Ltd now owns 5,094,113 shares of the transportation company’s stock worth $368,661,000 after purchasing an additional 85,542 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Canadian Pacific Kansas City by 7.8% in the third quarter. Geode Capital Management LLC now owns 4,332,357 shares of the transportation company’s stock worth $373,540,000 after purchasing an additional 313,298 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays dropped their price objective on Canadian Pacific Kansas City from $97.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Citigroup upped their price target on shares of Canadian Pacific Kansas City from $88.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Stephens raised their price objective on shares of Canadian Pacific Kansas City from $88.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Wolfe Research upgraded shares of Canadian Pacific Kansas City from a “peer perform” rating to an “outperform” rating and set a $86.00 target price on the stock in a report on Wednesday, January 8th. Finally, Benchmark restated a “hold” rating on shares of Canadian Pacific Kansas City in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Canadian Pacific Kansas City presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.45.

Canadian Pacific Kansas City Price Performance

Shares of CP opened at $72.38 on Wednesday. The business’s 50-day moving average is $76.64 and its 200-day moving average is $77.71. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.53 and a quick ratio of 0.46. The company has a market capitalization of $67.58 billion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 2.00 and a beta of 0.98. Canadian Pacific Kansas City Limited has a fifty-two week low of $70.89 and a fifty-two week high of $89.26.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, January 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.26. Canadian Pacific Kansas City had a net margin of 25.51% and a return on equity of 8.86%. Equities research analysts expect that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be given a $0.1318 dividend. This represents a $0.53 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Pacific Kansas City’s payout ratio is currently 17.93%.

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.