Raymond James Financial Inc. Buys New Stake in Canadian Pacific Kansas City Limited (NYSE:CP)

Raymond James Financial Inc. bought a new stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the 4th quarter, Holdings Channel.com reports. The fund bought 1,024,852 shares of the transportation company’s stock, valued at approximately $74,168,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its holdings in Canadian Pacific Kansas City by 18.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 839 shares of the transportation company’s stock valued at $60,000 after purchasing an additional 133 shares during the last quarter. Pinnacle Bancorp Inc. grew its stake in shares of Canadian Pacific Kansas City by 13.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 1,250 shares of the transportation company’s stock worth $90,000 after acquiring an additional 150 shares in the last quarter. Wiser Advisor Group LLC grew its stake in shares of Canadian Pacific Kansas City by 9.5% in the fourth quarter. Wiser Advisor Group LLC now owns 1,732 shares of the transportation company’s stock worth $125,000 after acquiring an additional 150 shares in the last quarter. BKM Wealth Management LLC grew its stake in shares of Canadian Pacific Kansas City by 2.2% in the fourth quarter. BKM Wealth Management LLC now owns 7,267 shares of the transportation company’s stock worth $526,000 after acquiring an additional 158 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Canadian Pacific Kansas City by 12.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,632 shares of the transportation company’s stock worth $118,000 after acquiring an additional 175 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

Shares of CP opened at $77.69 on Monday. Canadian Pacific Kansas City Limited has a 1-year low of $70.89 and a 1-year high of $91.58. The stock has a market cap of $72.54 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 2.00 and a beta of 0.98. 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 firm has a fifty day moving average price of $76.81 and a 200 day moving average price of $78.48.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings results on Wednesday, January 29th. The transportation company reported $0.92 earnings per share for the quarter, beating 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%. As a group, sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be given a $0.1318 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.53 dividend on an annualized basis and a yield of 0.68%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 17.93%.

Wall Street Analysts Forecast Growth

CP has been the subject of several research reports. Loop Capital downgraded shares of Canadian Pacific Kansas City from a “buy” rating to a “sell” rating in a research note on Monday, February 3rd. Stifel Nicolaus dropped their price target on shares of Canadian Pacific Kansas City from $82.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, January 16th. Royal Bank of Canada boosted their price target on shares of Canadian Pacific Kansas City from $124.00 to $128.00 and gave the stock an “outperform” rating in a research note 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 price target for the company in a research note on Wednesday, January 8th. Finally, Citigroup boosted their price target on shares of Canadian Pacific Kansas City from $88.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $95.45.

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.