Franklin Resources Inc. Sells 810,784 Shares of Canadian Pacific Kansas City Limited $CP

Franklin Resources Inc. reduced its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 8.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,318,781 shares of the transportation company’s stock after selling 810,784 shares during the period. Franklin Resources Inc.’s holdings in Canadian Pacific Kansas City were worth $612,484,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of CP. Wealth Watch Advisors INC acquired a new stake in shares of Canadian Pacific Kansas City in the third quarter worth $36,000. Acadian Asset Management LLC acquired a new position in Canadian Pacific Kansas City during the 1st quarter valued at $35,000. Aventura Private Wealth LLC bought a new stake in Canadian Pacific Kansas City in the 4th quarter valued at $37,000. McIlrath & Eck LLC boosted its holdings in Canadian Pacific Kansas City by 475.3% in the 4th quarter. McIlrath & Eck LLC now owns 512 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 423 shares during the period. Finally, Albion Financial Group UT grew its position in Canadian Pacific Kansas City by 451.7% in the 4th quarter. Albion Financial Group UT now owns 640 shares of the transportation company’s stock worth $47,000 after purchasing an additional 524 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Price Performance

Shares of Canadian Pacific Kansas City stock opened at $90.16 on Tuesday. The firm has a market cap of $79.98 billion, a P/E ratio of 27.83, a price-to-earnings-growth ratio of 1.92 and a beta of 1.09. The firm’s 50-day simple moving average is $84.58 and its 200-day simple moving average is $79.68. Canadian Pacific Kansas City Limited has a twelve month low of $68.42 and a twelve month high of $91.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.57 and a current ratio of 0.67.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Wednesday, April 29th. The transportation company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.02). The business had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.70 billion. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 27.20%.The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the company earned $1.06 EPS. As a group, research analysts expect that Canadian Pacific Kansas City Limited will post 3.76 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Friday, June 26th will be paid a $0.268 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.07 annualized dividend and a yield of 1.2%. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. Canadian Pacific Kansas City’s payout ratio is presently 20.68%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CP shares. Barclays set a $99.00 price objective on shares of Canadian Pacific Kansas City and gave the company an “overweight” rating in a research report on Thursday, April 30th. Royal Bank Of Canada lowered their price target on Canadian Pacific Kansas City from $128.00 to $127.00 and set an “outperform” rating on the stock in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Canadian Pacific Kansas City in a report on Friday, May 29th. Sanford C. Bernstein lifted their price objective on Canadian Pacific Kansas City from $85.41 to $90.00 and gave the stock a “market perform” rating in a report on Tuesday, March 31st. Finally, ATB Cormark Capital Markets cut Canadian Pacific Kansas City from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Canadian Pacific Kansas City currently has an average rating of “Moderate Buy” and a consensus price target of $98.63.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.