Bowie Capital Management LLC Lowers Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Bowie Capital Management LLC reduced its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 10.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 436,916 shares of the transportation company’s stock after selling 51,211 shares during the period. Canadian Pacific Kansas City comprises approximately 1.9% of Bowie Capital Management LLC’s holdings, making the stock its 20th largest position. Bowie Capital Management LLC’s holdings in Canadian Pacific Kansas City were worth $37,374,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. S&CO Inc. lifted its holdings in Canadian Pacific Kansas City by 183.3% in the third quarter. S&CO Inc. now owns 17,000 shares of the transportation company’s stock valued at $1,454,000 after acquiring an additional 11,000 shares during the period. Swiss National Bank lifted its stake in shares of Canadian Pacific Kansas City by 0.8% in the third quarter. Swiss National Bank now owns 2,820,893 shares of the transportation company’s stock valued at $241,645,000 after purchasing an additional 23,000 shares during the period. Encompass Capital Advisors LLC purchased a new stake in Canadian Pacific Kansas City during the second quarter worth about $11,810,000. Cetera Investment Advisers grew its position in Canadian Pacific Kansas City by 272.0% during the first quarter. Cetera Investment Advisers now owns 55,226 shares of the transportation company’s stock worth $4,874,000 after buying an additional 40,380 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Canadian Pacific Kansas City in the third quarter valued at about $696,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Up 2.0 %

CP stock traded up $1.55 during midday trading on Monday, hitting $78.24. The stock had a trading volume of 336,588 shares, compared to its average volume of 2,225,981. The company’s 50-day moving average price is $80.34 and its 200 day moving average price is $80.45. 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 market cap of $73.02 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 2.27 and a beta of 0.98. Canadian Pacific Kansas City Limited has a 12-month low of $69.27 and a 12-month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.02). The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 earnings per share. On average, equities research analysts predict that Canadian Pacific Kansas City Limited will post 3.06 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be given a $0.14 dividend. The ex-dividend date is Friday, December 27th. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a dividend yield of 0.72%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 19.64%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CP shares. Susquehanna upgraded Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and lowered their price target for the stock from $94.00 to $92.00 in a report on Thursday, October 24th. Citigroup lowered their target price on Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Stifel Nicolaus cut their price target on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Friday, October 11th. Barclays boosted their price objective on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Bank of America dropped their target price on shares of Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $93.68.

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.