Canadian Pacific Kansas City Limited $CP Stock: Meridian Investment Counsel Inc. Trims Holdings

Meridian Investment Counsel Inc. cut its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 20.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,235 shares of the transportation company’s stock after selling 7,090 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Canadian Pacific Kansas City were worth $2,403,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fiduciary Financial Advisors purchased a new stake in Canadian Pacific Kansas City during the 2nd quarter worth approximately $25,000. Jones Financial Companies Lllp acquired a new position in shares of Canadian Pacific Kansas City during the second quarter valued at approximately $44,000. Western Wealth Management LLC acquired a new position in shares of Canadian Pacific Kansas City during the first quarter valued at approximately $50,000. Knuff & Co LLC purchased a new position in shares of Canadian Pacific Kansas City in the second quarter valued at approximately $50,000. Finally, Chilton Capital Management LLC lifted its position in shares of Canadian Pacific Kansas City by 192.3% in the second quarter. Chilton Capital Management LLC now owns 684 shares of the transportation company’s stock valued at $59,000 after acquiring an additional 450 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CP. Scotiabank reaffirmed an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 16th. Barclays set a $102.00 price target on Canadian Pacific Kansas City and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Stephens raised Canadian Pacific Kansas City to a “hold” rating in a research note on Wednesday, July 8th. Weiss Ratings upgraded Canadian Pacific Kansas City from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 8th. Finally, Zacks Research upgraded Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $111.83.

Canadian Pacific Kansas City Trading Up 0.5%

CP opened at $86.13 on Thursday. The stock has a market capitalization of $75.37 billion, a PE ratio of 24.99, a P/E/G ratio of 1.80 and a beta of 1.13. Canadian Pacific Kansas City Limited has a one year low of $68.42 and a one year high of $96.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.59. The business’s 50 day moving average price is $89.72 and its 200 day moving average price is $87.79.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter last year, the firm earned $1.12 earnings per share. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. As a group, equities research analysts expect that Canadian Pacific Kansas City Limited will post 3.70 EPS for the current year.

Canadian Pacific Kansas City Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Friday, September 25th will be given a dividend of C$0.27 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 25th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 24.76%.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City Limited (NYSE:CP) is a North American transportation company that operates a single-line railway linking Canada, the United States and Mexico. Headquartered in Calgary, Alberta, the company provides freight transportation and supply-chain services for customers across its extensive rail network.

CPKC transports a diverse range of products, including grain and fertilizers, coal, forest and industrial products, energy-related materials, automotive shipments, merchandise and intermodal freight.