Scharf Investments LLC Sells 1,084,771 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Scharf Investments LLC lessened its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 92.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 94,202 shares of the transportation company’s stock after selling 1,084,771 shares during the quarter. Canadian Pacific Kansas City makes up 0.2% of Scharf Investments LLC’s holdings, making the stock its 27th biggest holding. Scharf Investments LLC’s holdings in Canadian Pacific Kansas City were worth $8,306,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of CP. Sands Capital Management LLC acquired a new stake in Canadian Pacific Kansas City during the 3rd quarter worth approximately $31,000. Anchor Investment Management LLC acquired a new position in shares of Canadian Pacific Kansas City during the fourth quarter worth $40,000. Independence Bank of Kentucky bought a new stake in shares of Canadian Pacific Kansas City in the fourth quarter worth $43,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Canadian Pacific Kansas City in the fourth quarter valued at $45,000. Finally, Partnership Wealth Management LLC acquired a new stake in Canadian Pacific Kansas City in the fourth quarter valued at $52,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Benchmark reiterated a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, April 25th. Stifel Nicolaus reduced their target price on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. Barclays raised their price target on shares of Canadian Pacific Kansas City from $90.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Evercore ISI dropped their price target on shares of Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Finally, Wells Fargo & Company initiated coverage on shares of Canadian Pacific Kansas City in a research report on Friday, June 7th. They set an “overweight” rating and a $90.00 price objective for the company. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Canadian Pacific Kansas City currently has an average rating of “Hold” and an average target price of $96.32.

Canadian Pacific Kansas City Stock Down 0.9 %

NYSE:CP traded down $0.71 on Thursday, hitting $78.98. The stock had a trading volume of 2,383,393 shares, compared to its average volume of 2,208,015. The company has a market cap of $73.68 billion, a PE ratio of 25.61, a P/E/G ratio of 2.25 and a beta of 0.97. Canadian Pacific Kansas City Limited has a 52 week low of $68.92 and a 52 week high of $91.58. The business’s fifty day moving average is $79.96 and its 200 day moving average is $82.09. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 0.43.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.48%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. On average, equities research analysts expect that Canadian Pacific Kansas City Limited will post 3.14 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, June 28th will be given a dividend of $0.141 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, June 28th. Canadian Pacific Kansas City’s payout ratio is presently 17.95%.

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.