Hemenway Trust Co LLC Sells 215 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Hemenway Trust Co LLC lessened its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 2.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,645 shares of the transportation company’s stock after selling 215 shares during the period. Hemenway Trust Co LLC’s holdings in Canadian Pacific Kansas City were worth $838,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CP. Blue Barn Wealth LLC boosted its stake in Canadian Pacific Kansas City by 9.4% during the 2nd quarter. Blue Barn Wealth LLC now owns 3,280 shares of the transportation company’s stock valued at $258,000 after purchasing an additional 281 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in Canadian Pacific Kansas City by 0.7% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 90,187 shares of the transportation company’s stock worth $7,100,000 after buying an additional 658 shares in the last quarter. National Bank of Canada FI increased its holdings in Canadian Pacific Kansas City by 6.6% in the 2nd quarter. National Bank of Canada FI now owns 1,596,909 shares of the transportation company’s stock worth $123,332,000 after buying an additional 98,602 shares in the last quarter. Mayflower Financial Advisors LLC lifted its stake in Canadian Pacific Kansas City by 1.1% during the 2nd quarter. Mayflower Financial Advisors LLC now owns 13,843 shares of the transportation company’s stock valued at $1,090,000 after acquiring an additional 147 shares during the period. Finally, GPM Growth Investors Inc. bought a new stake in shares of Canadian Pacific Kansas City in the second quarter worth approximately $4,822,000. Institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

CP has been the topic of several research analyst reports. Susquehanna reissued a “neutral” rating and set a $80.00 price target on shares of Canadian Pacific Kansas City in a report on Wednesday, July 31st. Barclays dropped their target price on Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 16th. Scotiabank raised shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, July 10th. Wells Fargo & Company initiated coverage on shares of Canadian Pacific Kansas City in a report on Friday, June 7th. They issued an “overweight” rating and a $90.00 price objective on the stock. Finally, Jefferies Financial Group reduced their target price on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.36.

Canadian Pacific Kansas City Price Performance

Shares of CP stock traded down $0.14 during mid-day trading on Friday, hitting $83.36. The company had a trading volume of 108,526 shares, compared to its average volume of 2,086,038. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.51 and a quick ratio of 0.44. The stock’s 50 day moving average price is $80.95 and its 200-day moving average price is $82.55. Canadian Pacific Kansas City Limited has a 52-week low of $68.92 and a 52-week high of $91.58. The company has a market capitalization of $77.78 billion, a P/E ratio of 26.95, a P/E/G ratio of 2.36 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.74 by $0.31. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 EPS. Equities research 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 declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.1373 per share. This represents a $0.55 annualized dividend and a yield of 0.66%. The ex-dividend date is Friday, September 27th. Canadian Pacific Kansas City’s dividend payout ratio is presently 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.